Prime Bank posts 44.78% growth in net profit, earned Rs 80.12 crore in Q4; NPL reduced to 1.75%
Tue, Aug 11, 2015 12:00 AM on Others,
ShareSansar August 11:
Prime Commercial Bank Ltd. (PCBL) earned an impressive profit of Rs 80.12 crore in the fourth quarter of the last fiscal year 2071/72.
Publishing the unaudited financial results today, the bank stated that its net profit rose by 44.78 percent in the fiscal year 2071/72 from Rs 55.34 crore in the corresponding period of the previous fiscal year 2070/71.
The profit was fuelled by its core business as it net interest income surged to Rs 1.39 arba by the fourth quarter end of last fiscal year as compared to Rs 1.05 arba at the end of the corresponding quarter of the previous fiscal year.
The Bank’s operating profit went up to Rs 1.09 arba in the fourth quarter which is a rise of Rs 36 crore from the corresponding quarter of previous fiscal year.
The bank managed to write back Rs 21.56 crore from the amount that it had earlier set aside for the provision of possible loss.
The bank mobilized a total of Rs 41.04 arba in deposit and extended Rs 32.70 arba in loan where as in corresponding quarter of previous fiscal year it was Rs 34.04 arba toward deposit and Rs 27.10 arba in loan.
The bank also reduced its non-performing loan (NPL) ratio to 1.75 percent from 2.43 percent in the previous year.
The EPS stands at Rs 25.52, P/E ratio 17.83 times and net worth per share Rs 140.70.
The bank had distributed 19 percent bonus share in last fiscal year to increase its paid up capital to Rs 314crores.
| Rs. In "000" | |||
| 4th Qtr. FY 2071/72 | 4th Qtr. FY 2070/71 | Growth (%) | |
| Paid-up Capital (Rs.) | 3,140,052.77 | 3,140,052.77 | 0.00% |
| Reserve (Rs.) | 1,278,153.00 | 476,895.00 | 168.02% |
| Deposits (Rs.) | 41,014,582.91 | 34,045,262.66 | 20.47% |
| Loans and Adv. (Rs.) | 32,701,293.87 | 27,104,417.44 | 20.65% |
| Net Interest Income (Rs.) | 1,397,021.22 | 1,059,965.81 | 31.80% |
| Provision for Possible Losses (Rs.) | 311,192.50 | 309,755.45 | - |
| Operating Profit (Rs.) | 1,099,244.48 | 733,763.56 | 49.81% |
| Write Back (Rs.) | 215,681.58 | 131,309.92 | - |
| Net Profit (Rs.) | 801,258.00 | 553,447.11 | 44.78% |
| Capital Adequacy Ratio (%) | 12.35 | 12.40 | -0.40% |
| Non-Performing Loan (%) | 1.75 | 2.43 | - |
| Cost of Funds (as per NRB) (%) | 4.68 | 5.89 | - |
| Base Rate (%) | 7.62 | 8.91 | - |
| Interest Spread (%) | 3.43 | 2.94 | - |
| Earning Per Share (Rs.) | 25.52 | - | - |
| P/E Ratio (Times) | 17.83 | - | - |
| Net Worth per Share (Rs.) | 140.70 | - | - |
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