Prabhu Bank on road to recovery; earns Rs 103 crore in Q4, NPA dips considerably
Sun, Aug 9, 2015 12:00 AM on Financial Analysis,
ShareSansar, August 9:
Prabhu Bank Limited (PRVU) net profit rises to Rs 1.03 arba in the fourth quarter (Q4) of the last fiscal year 2071/72.
In the unaudited financial report for the fourth quarter published today, the bank has stated that its net profit in Q4 of 2071/72 rose to Rs 1.03 arba up from the net loss of Rs 24.06 crore reported in the corresponding quarter of the fiscal year 2070/71.
The bank has mobilized deposits of Rs 42.14 arba in the Q4 of FY 2071/72 as against Rs 19.83 arba in the corresponding quarter of FY 2070/71. Likewise, it extended loans of Rs 29.70 arba, up from Rs 13.73 arba.
Prabhu Bank’s net interest income has increased from Rs 72.91 crore in the corresponding quarter last year to Rs 1.54 arba in the fourth quarter of 2071/72 which signals sound increment of its core business activities.
The bank’s non-performing loan (NPL) has gone down from 24.18 % in the corresponding quarter of previous fiscal year to 7.39 % in Q4 of last fiscal year. Its CD ratio stands at Rs 66.09%.
It’s EPS (annualized) stands at Rs 32.28, net worth per share is Rs 114.86 and P/E ratio stands at 10.78 times.
Prabhu Bank Limited (PRVU) is in the process to acquire Grand Bank Limited (GRAND) which will be the first ever acquisition of a commercial bank by another in Nepal.
The bank is due to get final approval for the same from NRB, the bank expect to start integrated business after acquiring Grand Bank and ailing Nepal Development Bank by the end of Bhadra, 2072.
The current paid up capital of PRVU stands Rs 320 crores, which will rise to Rs 592 crore after the acquisition of Grand and Nepal Development Bank and after issuing already approved 20% right shares in the near future.
Prabhu Bank Limited (PRVU) |
Rs. In "000" | ||||||
| 4th Qtr. FY 2071/72 | 4th Qtr. FY 2070/71 | Growth (%) | |||||
| Paid-up Capital (Rs.) | 3,208,885.00 | 2,000,000.00 | 60.44% | ||||
| Reserve (Rs.) | 476,926.00 | -815,833.00 | -158.46% | ||||
| Deposits (Rs.) | 42,145,236.00 | 19,835,166.00 | 112.48% | ||||
| Loans and Adv. (Rs.) | 29,704,723.00 | 13,732,575.00 | 116.31% | ||||
| Net Interest Income (Rs.) | 1,542,472.00 | 729,135.00 | 111.55% | ||||
| Provision for Possible Losses (Rs.) | 677,398.00 | 926,200.00 | - | ||||
| Operating Profit (Rs.) | 183,938.00 | -599,328.00 | -130.69% | ||||
| Write Back (Rs.) | 1,821,005.00 | 222,718.00 | - | ||||
| Net Profit (Rs.) | 1,035,965.00 | -240,612.00 | - | ||||
| Capital Adequacy Ratio (%) | 11.20% | 8.73% | - | ||||
| Cost of Funds (as per NRB) (%) | 4.14% | 4.57% | -9.41% | ||||
| Earning Per Share | 32.28 | - | - | ||||
| P/E Ratio (Times) | 10.78 | - | - | ||||
| Net Worth per Share (Rs.) | 114.86 | - | - | ||||
