NIC Asia reports the first ever NFRS based quarterly report; marginal increase in profit despite of huge rise in the business; deposits amount Rs 1.51 kharba & loans amount Rs 1.21 kharba
Tue, Jul 31, 2018 4:43 AM on Financial Analysis, Stock Market,
NIC Asia Bank Limited (NICA) has become the first among the commercial banks to present its fourth quarter report based on the Nepal Financial Reporting Standards (NFRS). The bank has reported a rise in the net profit by 5.67% in the fourth quarter of the fiscal year 2074/75.
The bank’s profit has increased from 1.43 arba in the fourth quarter of the fiscal year 2073/74 to Rs 1.52 arba in the fourth quarter of the fiscal year 2074/75. In the last quarter, the bank has Rs 82.46 crore as Free Profit after Regulatory Adjustments which can be utilized in distributing dividends to its shareholders.
Due to its aggressive policy, the bank’s deposit has skyrocketed by 74.40% to Rs 1.51 kharba and loans and advances have also increased by 66.52% to Rs 1.21 kharba in the last quarter. Due to the increased business of the bank, the net interest income of the bank has also increased to Rs 3.96 arba from Rs 2.53 arba of the corresponding quarter.
The bank’s paid up capital stands at Rs 8.02 arba with Rs 4.19 arba as its reserve.
The bank's deposits and lendings amount to huge figures which have been achieved through its agressive marketing. NIC Asia stands among one of the top commercial banks based on its deposits as well as lending.
The Non-Performing Loan (NPL) has also decreased to 0.06% from 0.36%.
In the fourth quarter, the EPS of the bank stands at Rs 18.94. The net worth per share stands at Rs 152.24 and P/E ratio at 16.68 times.
Major Highlights:
|
Particulars (In Rs '000) |
NICA |
||
|---|---|---|---|
|
Q4 2074/75 |
Q4 2073/74 |
Difference |
|
|
Paid Up Capital |
8,026,813 |
6,692,597 |
19.94% |
|
Reserve & Surplus |
4,192,832 |
4,176,764 |
0.38% |
|
Deposits |
151,200,984 |
86,697,140 |
74.40% |
|
Borrowings |
- |
- |
- |
|
Loans & Advances |
121,355,917 |
72,876,178 |
66.52% |
|
Net Interest Income |
3,961,077 |
2,539,073 |
56.00% |
|
Operating Profit |
2,256,783 |
1,949,446 |
15.77% |
|
Net Profit |
1,520,560 |
1,439,027 |
5.67% |
|
Total Comprehensive Income |
1,496,672 |
1,439,027 |
4.01% |
|
Add/ Less: Regulatory adjustment as per NRB |
(672,014) |
(196,188) |
242.54% |
|
Free Profit/ (Loss) after Regulatory Adjustments |
824,658 |
1,242,839 |
-33.65% |
|
NPL |
0.06 |
0.36 |
-83.33% |
|
Annualized EPS (In Rs.) |
18.94 |
21.50 |
-11.90% |
|
Net Worth per Share (In Rs.) |
152.24 |
162.41 |
-6.26% |
|
P/E Ratio (In times) |
16.68 |
- |
- |
