Prime Bank after successful acquisition of Kailash Bikas Bank earns Rs 2.03 arba till Q3; distributable profit decline to Rs 64.12 crore
Wed, Apr 29, 2020 7:58 AM on Financial Analysis, Stock Market, Latest,
Prime Commercial Bank Limited (PCBL) has published its third quarter report for the FY 2076/77 today after successful acquisition of Kailash Bank Limited with 31.19% rise in net profit. The rise in profit is mainly due to consolidation of both company balance sheets this quarter.
The bank’s profit has increased from Rs 1.47 arba in the third quarter of the fiscal year 2075/76 to Rs 2.03 arba in the third quarter of the fiscal year 2076/77. In the same quarter, the bank has Rs 64.12 crore as distributable profit after PL Appropriation and Regulatory Adjustments whereas distributable profit stood at Rs 1 arba in corresponding quarter last FY.
The bank’s deposit from customers has increased by 48.93% (compared to immediate previous year ending) to Rs 1.14 kharba and loans and advances to customers increased by 53.01% (compared to immediate previous year ending) to Rs 1.11 kharba till the third quarter. The growth in deposits and loan is mainly due to consolidation of both company balance sheets this quarter.
The net interest income (core business income) of the bank has increased by 28.42% to Rs 3.34 arba from Rs 2.60 arba of the corresponding quarter.
The bank’s paid up capital stands at Rs 13.98 arba with Rs 6.23 arba as its reserve and surplus. The Non-Performing Loan (NPL) has decreased to 0.97% from 1.58%.
In the third quarter, the annualized EPS of the bank stands at Rs 19.36. The net worth per share stands at Rs 144.62 and qtr end PE ratio stands at 13.02 times.
Major Highlights:
* 2075/76 figure are of Immediate Previous Year Ending.
|
Particulars (In Rs '000) |
Prime Bank |
||
|---|---|---|---|
|
Q3 2076/77 |
Q3 2075/76 |
Difference |
|
|
Share Capital* |
13,985,250 |
9,318,627 |
50.08% |
|
Share Premium* |
645 |
0 |
|
|
Retained Earnings* |
788,449 |
1,575,646 |
-49.96% |
|
Reserves* |
5,450,805 |
2,509,717 |
117.19% |
|
Deposits from Customers* |
114,733,185 |
77,040,074 |
48.93% |
|
Loans & Advances to customers* |
111,004,605 |
72,545,402 |
53.01% |
|
Net Interest Income |
3,340,858 |
2,601,530 |
28.42% |
|
Fee and Commission Income |
717,943 |
615,826 |
16.58% |
|
Impairment Charge/(Reversal) |
203,290 |
342,361 |
- |
|
Personnel Expenses |
779,604 |
578,196 |
34.83% |
|
Operating Profit |
2,896,336 |
2,199,285 |
- |
|
Profit/(Loss) for the Year |
2,030,675 |
1,547,905 |
31.19% |
|
Total Comprehensive Income |
2,091,794 |
1,527,958 |
36.90% |
|
Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments |
641,214 |
1,007,988 |
-36.39% |
|
Capital Adequacy Ratio (CAR) |
12.98 |
12.13 |
7.01% |
|
NPL |
0.97 |
1.58 |
-38.61% |
|
CCD (as per NRB Directives) |
76.55 |
78.43 |
-2.40% |
|
Cost of Fund (%) |
8.03 |
8.29 |
-3.14% |
|
Base Rate (%) |
9.85 |
10.2 |
-3.43% |
|
Annualized EPS (In Rs.) |
19.36 |
22.15 |
-12.59% |
|
Net Worth per Share (In Rs.) |
144.62 |
143.84 |
0.54% |
|
Qtr End PE Ratio (times) |
13.02 |
- |
- |
|
Qtr End Market Price |
252 |
- |
- |
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