NIC Asia reports outstanding performance in the fourth quarter; dividend distribution capacity of 24%

NIC Asia Bank Limited (NICA) has published its fourth quarter report for the FY 2075/76 with an outstanding rise in net profit by 129.32%.

The bank’s profit has increased from Rs 1.33 arba in the fourth quarter of the fiscal year 2074/75 to Rs 3.05 arba in the fourth quarter of the fiscal year 2075/76.

The bank’s deposit (from customers) rises by 26.62% to Rs 1.76 kharba whereas loans and advances (to customers) have also increased by 23.48% to Rs 1.42 kharba in the fourth quarter. The net interest income (core business income) of the bank has also increased by massive 65.75% to Rs 6.96 arba from Rs 4.20 arba of the corresponding quarter.

The banks has an amount of Rs 59.01 crore as provision for possible losses (impairment charges).

The bank’s paid up capital stands at Rs 8.83 arba with Rs 6.13 arba as its reserve. The Non-Performing Loan (NPL) rises to 0.46%.

In the same quarter, the bank has Rs 2.15 arba as distributable profit after Regulatory Adjustments and PL appropriations which can be utilized in distributing dividends to its shareholders. The bank has dividend distribution capacity of approximately 24%.

In the fourth quarter, the annualized EPS of the bank stands at Rs 34.56. The net worth per share stands at Rs 169.41 and PE ratio stands at 12.96 times.