Prabhu Bank registers meager profit rise by 7.93% to Rs 28.24 crore in Q1; NPL at 7.54%

Prabhu Bank Limited (PRVU) has posted meager net profit rise of 7.93 percent in the first quarter (Q1) of last fiscal year 2073/74. As per the unaudited quarterly report for the first quarter today, the commercial bank has registered a net profit of Rs. 28.24 crore in the first quarter of the current fiscal year 2073/74, up from Rs. 26.17 crore in the corresponding quarter of fiscal year 2072/73. Its net interest income surged from Rs.46.82 crore in the previous year to Rs. 34.48 crore in previous year report. Prabhu Bank has a paid up capital of Rs 5.88 arba and a reserve of Rs 55.47 crore at present. Prabhu Bank has collected Rs.65.29 arba in deposits and has extended Rs.51.74 arba in loans in the first quarter of 2073/74 as compared to Rs. 45.66 arba in deposit and Rs.30.03 arba in loans in the corresponding quarter of fiscal year 2072/73. The bank’s non-performing loan (NPL) increased to 7.54 percent in Q1 from 5.71 percent in the corresponding quarter. PRVU annualized earning per share (EPS) stand at Rs 19.24, net worth per share is at Rs 109.43, PE ratio at 91.28 times.