Prabhu Bank net profit slides by 24.91%, Grand Bank makes Rs 14.91 crore in Q2; Joint Operation from Friday
Wed, Feb 10, 2016 11:52 AM on Latest, Financial Analysis, Featured,
Prabhu Bank Limited (PRVU) has posted net profit decline by 24.91% in the second quarter of the fiscal year 2072/73.
Publishing the unaudited quarterly report for the second quarter today, the commercial bank has stated that it earned a net profit of Rs. 40. 56 crore in the second quarter of fiscal year 2072/73, down from net profit Rs. 54.02 crore in the corresponding quarter of fiscal year 2071/72.
Its net interest income surged to Rs 70.73 crore in Q2 from Rs. 69.13 crore of the previous fiscal year. The commercial bank has a paid up capital of Rs. 3.20 arba and a Reserve of Rs. 90.90 crore at present.
Prabhu Bank collect Rs. 47.98 arba in deposits and mobilized Rs. 31.79 arba in loans in the second quarter of FY 2072/73 as compared to Rs. 33.16 arba in deposit and Rs. 27.20 arba in loans in the corresponding quarter of fiscal year 2071/72.
The bank’s non-performing loan has drop by half to 5.53 percent in Q2 from 10.86 percent in the previous year report.
It’s Credit to Deposit ratio (CD ratio) remains at 62.33 percent.
Grand Bank Nepal Limited (GRAND) has reported profit of Rs 14.91 crore in the second quarter for the fiscal year 2072/73. The commercial bank was in loss of Rs 13.86 crore in the corresponding quarter of the previous fiscal year.
As per the unaudited financial report published by the bank today, the commercial bank’s net interest income dropped to Rs.8 crore from Rs 13.71 crore in the Q2.
The bank also collected amount of deposits equal to Rs. 6.43 arba in Q2, decreasing from Rs. 12.74 arba in the corresponding period last year. It has extended loans and advances of Rs.8.34 arba in Q2 whereas in the same period last year the figure stood at Rs.11.85 arba.
Its NPL increased to 34.53 percent from 26.61 percent in Q2.
Its non-performing loan peaked to 38.03percent in Q1 from 25.49 percent in the corresponding quarter of the previous fiscal year.
Grand Bank’s annualized earning per share (EPS) stands at Rs.3.33, annualized net worth per share at Rs.25.99, and P/E ratio at 55.26 times.
Prabhu and Grand Bank are starting joint operation as Prabhu Bank Ltd. from Friday, February 12, 2016, after completing merger process. The banking operations of both banks have been halted from 1 pm on February 10 (yesterday) to February 11 (tomorrow) for system integration.
Its net interest income surged to Rs 70.73 crore in Q2 from Rs. 69.13 crore of the previous fiscal year. The commercial bank has a paid up capital of Rs. 3.20 arba and a Reserve of Rs. 90.90 crore at present.
Prabhu Bank collect Rs. 47.98 arba in deposits and mobilized Rs. 31.79 arba in loans in the second quarter of FY 2072/73 as compared to Rs. 33.16 arba in deposit and Rs. 27.20 arba in loans in the corresponding quarter of fiscal year 2071/72.
The bank’s non-performing loan has drop by half to 5.53 percent in Q2 from 10.86 percent in the previous year report.
It’s Credit to Deposit ratio (CD ratio) remains at 62.33 percent.
Grand Bank Nepal Limited (GRAND) has reported profit of Rs 14.91 crore in the second quarter for the fiscal year 2072/73. The commercial bank was in loss of Rs 13.86 crore in the corresponding quarter of the previous fiscal year.
As per the unaudited financial report published by the bank today, the commercial bank’s net interest income dropped to Rs.8 crore from Rs 13.71 crore in the Q2.
The bank also collected amount of deposits equal to Rs. 6.43 arba in Q2, decreasing from Rs. 12.74 arba in the corresponding period last year. It has extended loans and advances of Rs.8.34 arba in Q2 whereas in the same period last year the figure stood at Rs.11.85 arba.
Its NPL increased to 34.53 percent from 26.61 percent in Q2.
Its non-performing loan peaked to 38.03percent in Q1 from 25.49 percent in the corresponding quarter of the previous fiscal year.
Grand Bank’s annualized earning per share (EPS) stands at Rs.3.33, annualized net worth per share at Rs.25.99, and P/E ratio at 55.26 times.
Prabhu and Grand Bank are starting joint operation as Prabhu Bank Ltd. from Friday, February 12, 2016, after completing merger process. The banking operations of both banks have been halted from 1 pm on February 10 (yesterday) to February 11 (tomorrow) for system integration.
