NIC ASIA Bank Limited (NICA) has registered 25% increment in its operating profit before provision in the 2nd quarter of current FY 2074-75 which stands at Rs 1.12 arba. The commercial bank has amassed a huge deposit collection of Rs 120 arba which is a massive increment of 56.62%
The bank has however reported a decline in its net profit by 20.74% in this quarter due to the allocation of massive Rs 36.08 crore into the provision for possible losses.
As per the unaudited report published today, the commercial bank has stated that its net profit declined to Rs 57.17 crore in Q2 of the fiscal year 2074/75 from Rs 72.14 crore in the corresponding quarter of the previous fiscal year 2073/74.
Owing to its growth in deposit collection, the bank has floated loans of Rs 102 arba which is an increment of 51.42% in comparison to the corresponding quarter of FY 2073-74.
The commercial bank has a paid up capital of Rs 8.03 arba with Rs 2.65 arba in reserve which are the increments by 38% and meager 0.29% respectively when compared to the corresponding quarter of previous FY.
Its NPL stands at 0.26% which is a slight decline from last year’s 0.72% in the same quarter.
Its Earning per Share (EPS) stands at Rs 14.24 where net worth per share stands at Rs 133.07, both of which have declined by 42.56% and 8.54% respectively. It has P/E ratio of 24.23 times.
Major Highlights:
| Particulars (In Rs '000) |
NICA |
| Q2 2074/75 |
Q2 2073/74 |
Difference |
| Paid Up Capital |
8,031,117 |
5,819,650 |
38.00% |
| Reserve & Surplus |
2,655,758 |
2,647,956 |
0.29% |
| Deposits |
120,466,632 |
76,914,599 |
56.62% |
| Borrowings |
2,159,263 |
1,550,000 |
39.31% |
| Loans & Advances |
102,200,745 |
67,495,578 |
51.42% |
| Net Interest Income |
1,645,023 |
1,163,847 |
41.34% |
| Provision for possible losses |
360,893 |
133,788 |
169.75% |
| Operating Profit |
763,473 |
763,750 |
-0.04% |
| Net Profit |
571,794 |
721,404 |
-20.74% |
| NPL (%) |
0.26 |
0.72 |
-63.89% |
| Annualized EPS (In Rs.) |
14.24 |
24.79 |
-42.56% |
| Net Worth per Share (In Rs.) |
133.07 |
145.50 |
-8.54% |
| P/E Ratio (In times) |
24.23 |
- |
- |
