NIC Asia Bank reports huge growth in business volume in Q2; How did the bank perform in terms of profitability?
Thu, Jan 28, 2021 8:18 AM on Company Analysis, Latest,
NIC Asia Bank Limited (NICA) has published its second-quarter report for the FY 2077/2078 with an increase in Net Profit by a meagre 2.20%. The bank's net profit has increased from Rs. 2.01 Arba in the second quarter of FY 2076/2077 to Rs. 2.06 arba in the second quarter of FY 2077/2078.
The bank reported Rs. 72.81 crores as distributable profit after P/L appropriation and regulatory requirements in this quarter.
The bank’s deposit from customers increased by 32.97% to Rs. 2.68 kharba (compared to immediate previous year ending) whereas loans and advances to customers increased by 38.11% to Rs. 2.21 kharba (compared to the immediate previous year ending) till the second quarter. The Net Interest Income (core business income) of the bank has increased by 8.21% to Rs. 3.94 arba compared to the corresponding quarter of the previous year.
The bank’s paid-up capital stands at Rs. 11.56 Arba with Rs. 7.66 Arba in Reserve and surplus. The Non-performing loan (NPL) remained at 0.43%.
The annualized earnings per share (EPS) of the Bank stood at Rs. 35.64 and Net worth per share stood at Rs. 166.32. The company traded at a P/B multiple of 5.48 times.
Major Highlights:
* FY 2076/77 figure is of immediate fiscal year ending
|
Particulars |
NIC Asia Bank Limited |
||
|---|---|---|---|
|
Q2, 2077/2078 |
Q2, 2076/2077 |
Difference |
|
|
Share Capital* |
11,564,005.37 |
9,717,651.57 |
19.00% |
|
Reserve & Surplus* |
7,669,460.21 |
7,524,519.05 |
1.93% |
|
Loans and Advances* |
221,237,465.14 |
160,184,306.88 |
38.11% |
|
Deposit from Customers* |
268,105,375.54 |
201,630,384.46 |
32.97% |
|
Net Interest Income |
3,946,806.48 |
3,647,459.64 |
8.21% |
|
Impairment charge/(Reversal) for loans |
-71,927.90 |
192,683.25 |
- |
|
Operating Profit |
3,038,108.88 |
2,903,135.53 |
4.65% |
|
Net Profit |
2,060,537.51 |
2,016,225.62 |
2.20% |
|
Capital Adequacy Ratio (CAR) |
12.16% |
12.75% |
- |
|
Non-performing Loan (%) |
0.43% |
0.46% |
- |
|
Cost of Funds (%) |
5.22% |
6.93% |
- |
|
Base Rate (%) |
6.65% |
9.62% |
- |
|
CCD Ratio (as per NRB Directives) |
76.01% |
78.18% |
- |
|
Annualized EPS (Rs.) |
35.64 |
41.50 |
- |
|
Net Worth per share (Rs.) |
166.32 |
177.43 |
- |
|
Price to Earnings (Times) |
25.59 |
- |
- |
|
Price to Book (Times) |
5.48 |
- |
- |
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