NIC Asia Bank reports impressive results; earns Rs 72.14 crore; EPS remains at Rs 24.79 in Q2

NIC Asia Bank Limited (NICA) has posted impressive profit growth of 43.69 percent for the second quarter of the fiscal year 2073/74. According to the unaudited financial report published by the commercial bank today, its net profit has increased to Rs 72.14 crore in the second quarter up from Rs 50.20 crore in the corresponding quarter of the previous fiscal year 2072/73. NIC Asia Bank’s net interest income increased to Rs. 1.15 arba in Q2, up from Rs. 84.11 crore in the corresponding quarter of the previous fiscal year. Its paid up capital remains at Rs 5.81 arba and has reserve of Rs 2.64 arba. The bank amassed huge amount of deposits in the Q2 of the ongoing fiscal year. Deposits collection reached Rs 79.07 arba in Q2 from Rs 58.31 arba in the corresponding period last year. Likewise, it has extended loans and advances of Rs 66.42 arba in 21 whereas in the same period last year the figure stood at Rs 46.27 arba. Its non-performing loan has decreased to 0.72 percent in Q2 from 1.40 percent in the second quarter. NICA’s annualized earning per share (EPS) stand at Rs 24.79, net worth per share at Rs 145.50, and the P/E ratio at 20.37 times. Major Highlights:

Indicators (Rs in "000")	FY 2073/74 Q2	FY 2072/73 Q2	Difference (%)
Paid Up Capital	5819650	3695016	57.50%
Reserve and Surplus	2647956	2305830	14.84%
Deposits	79071616	58318343	35.59%
Loans and Advances	66422745	46271552	43.55%
Net Interest Income	1153847	841129	37.18%
Provision	133786	53272	-
Write Back	328336	174761	-
Operating Profit	763750	615997	23.99%
Net Profit	721404	502061	43.69%
Capital Adequacy Ratio	0.1245	0.1244	-
NPL	0.0072	0.014	-
Base Rate	0.0739	0.0669	-
CD Ratio (as per NRB)	0.784	0.7813	-
EPS (Annualized)	24.79200639	27.17503794	-8.77%
PE Ratio	20.37
Networth Per Share	145.5