NIC Asia reports fair growth in profitability in Q3; EPS at Rs. 34.38, NPL at 0.47%
Wed, Apr 28, 2021 7:52 AM on Latest, Company Analysis,
NIC Asia Bank Limited (NICA) has published its third-quarter report for the FY 2077/2078 with an increment in Net Profit by 20.07%. The bank's net profit has increased from Rs. 2.50 Arba in the third quarter of FY 2076/2077 to Rs. 3.00 Arba in the third quarter of FY 2077/2078.
The bank reported Rs. 1.22 Arba as distributable profit after P/L appropriation and regulatory requirements in this quarter.
The bank’s deposit from customers increased by 36.55% to Rs. 2.75 kharba (compared to immediate previous year ending) whereas loans and advances to customers increased by 54.60% to Rs. 2.47 kharba (compared to the immediate previous year ending) till the third quarter. The bank's Net Interest Income (core business income) has increased by 19.23% to Rs. 6.58 Arba compared to the corresponding quarter of the previous year.
The bank’s paid-up capital stands at Rs. 11.65 Arba with Rs. 8.66 Arba in Reserve and surplus. The Non-performing loan (NPL) remained at 0.47%.
The annualized earnings per share (EPS) of the Bank stood at Rs. 34.38 and Net worth per share stood at Rs. 174.38. The company traded at a P/B multiple of 2.51 times.
Major Highlights:
|
Particulars |
NIC Asia Bank Limited |
||
|---|---|---|---|
|
Q3, 2077/2078 |
Q3, 2076/2077 |
Difference |
|
|
Share Capital |
11,654,005.37 |
9,717,651.57 |
19.93% |
|
Reserve & Surplus |
8,667,872.39 |
7,524,519.05 |
15.20% |
|
Loans and Advances |
247,643,478.00 |
160,184,306.88 |
54.60% |
|
Deposit from Customers |
275,318,035.56 |
201,630,384.46 |
36.55% |
|
Net Interest Income |
6,584,392.35 |
5,522,593.99 |
19.23% |
|
Impairment charge/(Reversal) for loans |
252,584.10 |
992,042.59 |
- |
|
Operating Profit |
4,395,654.15 |
3,604,006.81 |
21.97% |
|
Net Profit |
3,004,815.64 |
2,502,498.29 |
20.07% |
|
Capital Adequacy Ratio (CAR) |
11.44% |
12.11% |
- |
|
Non-performing Loan (%) |
0.47% |
0.75% |
- |
|
Cost of Funds (%) |
5.03% |
7.02% |
- |
|
Base Rate (%) |
6.77% |
9.61% |
- |
|
CCD Ratio (as per NRB Directives) |
84.21% |
78.18% |
- |
|
Annualized EPS (Rs.) |
34.38 |
34.34 |
- |
|
Net Worth per share (Rs.) |
174.38 |
177.43 |
- |
|
Price to Earnings (Times) |
12.71 |
- |
- |
|
Price to Book (Times) |
2.51 |
- |
- |
