Prabhu Bank Limited (PRVU) has maintained its progress shown in the second quarter into the third quarter of the fiscal year 2073/74 as well. It has written back bad loans worth Rs 1.40 arba up to the end of third quarter this year.
According to the unaudited financial report published by the commercial bank today, its net profit has now surged to Rs 1.44 arba in third quarter, up from Rs 75.78 crore in the corresponding quarter of the last fiscal year 2072/73. The operating profit has increased 122% to Rs 1.17 arba from only Rs 52.63 crore as compared to the corresponding quarter of last fiscal year.
This increase in profit has propelled its Earnings Per Share (EPS) by 70% to Rs 32.78 per share at the end of Q3. With 31.28% increase in its deposit base to Rs 71.60 arba and 34.35% increase in floated loans to almost Rs 60 arba, it has been able to earn net interest income of a massive Rs 1.95 arba – an almost 60% increase this year.
After merger with Grand Bank Nepal Limited, PRVU has continued to make progress with its non-performing loan decreased to 4.32% in this year from 10.04% last year.
Its paid up capital now stands at Rs 5.88 arba with net worth of Rs 132.18 per share. Its reserve last year at this time stood at a negative Rs 17.77 crore, which has been increased to Rs 1.89 arba this year.
Prabhu Bank Limited will be issuing 40% right shares to its shareholders, after which its paid up capital will reach over Rs 8.22 arba.
Major Highlights:
| Indicators (Rs in "000") |
FY 2073/74 Q3 |
FY 2072/73 Q3 |
Difference (%) |
| Paid Up Capital |
5,881,402 |
5,239,625 |
12.25% |
| Reserve and Surplus |
1,892,548 |
(177,743) |
1164.77% |
| Deposits |
71,602,950 |
54,542,498 |
31.28% |
| Loans and Advances |
59,594,614 |
44,357,408 |
34.35% |
| Net Interest Income |
1,951,678 |
1,222,244 |
59.68% |
| Provision |
291,470 |
(189,034) |
- |
| Write Back |
1,400,459 |
595,936 |
- |
| Operating Profit |
1,172,608 |
526,368 |
122.77% |
| Net Profit |
1,445,860 |
757,830 |
90.79% |
| Capital Adequacy Ratio |
11.06% |
10.79% |
- |
| NPL |
4.32% |
10.04% |
-56.97% |
| Base Rate |
8.26% |
6.04% |
- |
| Cost of Fund |
3.65% |
3.57% |
|
| CD Ratio (as per NRB) |
71.81% |
76.39% |
- |
| EPS (Annualized) |
32.78 |
19.28 |
69.97% |
| PE Ratio |
17.45 |
|
|
| Networth Per Share |
132.18 |
|
|
