Prabhu Bank earns Rs 1.08 arba till Q2 with satisfactory rise in loans, net interest and fee based income; has Rs 1.03 arba as distributable profit

Tue, Feb 4, 2020 7:08 AM on Financial Analysis, Stock Market,
Prabhu Ban...

Prabhu Bank Limited (PRVU) has published its second quarter report for the FY 2076/77 today with a meager 4.22% rise in net profit. The bank’s profit has increased from Rs 1.04 arba in the second quarter of the fiscal year 2075/76 to Rs 1.08 arba in the second quarter of the fiscal year 2076/77.

In the same quarter, the bank has Rs 1.03 arba as distributable profit after PL Appropriation and Regulatory Adjustments.

The bank’s deposit from customers has increased by 9.49% (compared to immediate previous year ending) to Rs 1.15 kharba and loans and advances to customers increased by 10.36% (compared to immediate previous year ending) to Rs 94.71 arba till the second quarter. The net interest income (core business income) of the bank has increased by 14.12% to Rs 2.45 arba from Rs 2.15 arba of the corresponding quarter.

The bank’s paid up capital stands at Rs 10.31 arba with Rs 4.91 arba as its reserve and surplus. The Non-performing loan stands at 3.12%.

In the second quarter, the annualized EPS of the bank stands at Rs 21.05. The net worth per share stands at Rs 147.61 and qtr end PE ratio stands at 11.35 times.

Click here for Q2 report:

Major Highlights:

* 2075/76 figure are of Immediate Previous Year Ending.

* Published EPS, Networth and PE may differ. As per NFRS standard, Weighted average number of shares is taken while calculating EPS, Networth and PE but we have taken number of shares as per Q2 end paid up capital.

Particulars (In Rs '000)

Prabhu Bank

Q2 2076/77

Q2 2075/76

Difference

Share Capital*

10,315,507

8,892,675

16.00%

Share Premium*

 

 

 

Retained Earnings*

1,056,288

1,520,915

-30.55%

Reserves*

3,854,931

3,907,078

-1.33%

Deposits from Customers*

115,500,356

105,488,506

9.49%

Loans & Advances to customers*

94,716,414

85,821,176

10.36%

Net Interest Income

2,457,163

2,153,061

14.12%

Fee and Commission Income

484,499

248,014

95.35%

Impairment Charge/(Reversal)

-159,439

-42,975

-

Personnel Expenses

1,001,471

800,493

25.11%

Operating Profit

1,504,217

1,331,848

12.94%

Profit/(Loss) for the Year

1,085,774

1,041,815

4.22%

Total Comprehensive Income

983,624

1,041,815

-5.59%

Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments

1,033,087

-

-

Capital Adequacy Ratio (CAR)

11.90

11.92

-0.17%

NPL

3.12

2.47

26.32%

CCD (as per NRB Directives)

74.7

76.59

-2.47%

Cost of Fund (%)

6.29

6.19

1.62%

Base Rate (%)

9.45

9.37

0.85%

Annualized EPS (In Rs.)

21.05

23.43

-10.16%

Net Worth per Share (In Rs.)

147.61

161.04

-8.34%

Qtr End PE Ratio (times)

11.35

-

-

Qtr End Market Price

239

-

-