NIC Asia's Q4 Highlights: Net Profit Rises by 38.86%; Net Interest Income at Rs 11.77 Arba; NPL Below 0.5% and EPS at Rs 39.13
Thu, Jul 21, 2022 9:43 AM on Financial Analysis, Latest,
NIC Asia Bank Limited (NICA) has published its fourth-quarter report for the FY 2078/2079 with an impressive increment in Net Profit by 38.86%. The bank's net profit has increased from Rs. 3.25 Arba in the fourth quarter of FY 2077/2078 to Rs. 4.52 Arba in the fourth quarter of FY 2078/2079.
In the same quarter, the bank has Rs 2.24 arba as distributable profit after PL Appropriation and Regulatory Adjustments. This amount can be used for distributing dividends.
The bank’s deposits from customers increased by just 1% to Rs. 2.89 kharba whereas loans and advances to customers increased by 1.48% to Rs. 2.52 kharba by the fourth quarter. The bank's Net Interest Income (core business income) has increased by 27.58% to Rs. 11.77 Arba compared to the corresponding quarter of the previous year.
The bank’s paid-up capital stands at Rs. 11.56 Arba with Rs. 13.58 Arba in Reserve and surplus. The Non-performing loan (NPL) remained at 0.49%.
The earnings per share (EPS) of the Bank stood at Rs. 39.13 and Net worth per share stood at Rs. 217.52. The company traded at a P/E multiple of 17.79 times.
The Capital Adequacy Ratio (CAR) of the bank stands at 13.51%, whereas, Tier 1 Capital Adequacy Ratio (including Capital Conversation Buffer) stands at 8.93% which is above than minimum 8.5% mandated by the NRB to distribute any dividend.
The bank added 12 lakh more customers last year alone to provide banking services to more than 40 lakh customers in total from 359 branches, 473 ATM, 102 Extension counters and 81 branchless banking units.
As per the bank statement, it has mobilised more than 86% of its lending to SME’s and retail customers which is the highest in the industry. The bank has completed its 25th anniversary today and has given many reasons to its shareholders as well as to its stakeholders to cherish the journey so far.
Major Highlights:
25 Years Highlights:
