NIC Asia Bank Limited (NICA) has registered insignificant profit growth of 6.76% percent in the first quarter (Q1) of the current FY 2074/75.
As per the unaudited financial report published by the commercial bank, its net profit of the bank has surged to Rs 27.86 crore in the first quarter up from Rs 26.10 crore in the corresponding quarter of the previous fiscal year.
NIC Asia Bank’s net interest income has risen to Rs 59.69 crore in Q1 as compared to Rs 56.00 crore in the corresponding quarter.
It has a paid up capital of Rs 8.03 arba (including 20% bonus shares from the net profit of the FY 2073/74) with Rs 2.36 arba in reserve.
The bank has collected deposits of Rs 1.03 kharba in Q1, up from Rs 72.47 arba in the corresponding period last year. Likewise, it has extended loans and advances of Rs 86.74 arba in Q1 whereas in the same period last year the figure stood at Rs. 61.01 arba.
Its non-performing loan (NPL) declined to 0.29 percent in the current quarter from 0.90 percent in the previous year report.
NIC Asia Bank’s Earnings per Share (EPS) stands at Rs 13.88, net worth per share at Rs. 129.42, and P/E ratio at 27.75 times.
Major Highlights:
| Particulars (In Rs '000) |
NIC Asia Bank (NICA) |
| Q1 2074/75 |
Q1 2073/74 |
Difference |
| Paid Up Capital |
8,031,117 |
5,819,650 |
38.00% |
| Reserve & Surplus |
2,362,616 |
2,187,598 |
8.00% |
| Deposits |
103,653,534 |
72,478,708 |
43.01% |
| Borrowings |
4,416,130 |
2,400,000 |
84.01% |
| Loans & Advances |
86,741,927 |
61,014,317 |
42.17% |
| Net Interest Income |
596,921 |
560,074 |
6.58% |
| Provision for possible losses |
181,441 |
90,300 |
100.93% |
| Operating Profit |
357,198 |
326,155 |
9.52% |
| Net Profit |
278,688 |
261,046 |
6.76% |
| NPL (%) |
0.29 |
0.9 |
-67.78% |
| Annualized EPS (In Rs.) |
13.88 |
17.94 |
-22.64% |
| Net Worth per Share (In Rs.) |
129.42 |
137.59 |
-5.94% |
| P/E Ratio (In times) |
27.75 |
- |
- |
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