Prime Bank profit rises by 31.36% in Q3; earns Rs 1.54 arba with EPS of Rs 25.69 and 16% bonus shares yet to be endorse by AGM

Prime Commercial Bank Limited (PCBL) has reported a 31.36% growth in net profit in the third quarter of FY 2075/76.

The bank’s profit has increased from Rs 1.17 arba in the third quarter of the fiscal year 2074/75 to Rs 1.54 arba in the third quarter of the fiscal year 2075/76.

In the same quarter, the bank has Rs 1 arba as distributable profit after Regulatory Adjustments and PL appropriations which can be utilized in distributing dividends to its shareholders. If the profit growth of this quarter continues in fourth quarter then the company will have Rs 1.33 arba (approx.) as distributable profit. The bank’s yet to conduct AGM for last fiscal years and the proposed 16% bonus shares of FY 2074/75 yet to be endorse.

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The bank’s deposit decline by 5.48% to Rs 68.65 arba whereas loans and advances have increased by 4.06% to Rs 69.86 arba till the third quarter. The net interest income (core business income) of the bank has increased by a good margin of 42.15% to Rs 2.60 arba from Rs 1.83 arba of the corresponding quarter.

The bank’s paid up capital stands at Rs 8.03 arba with Rs 4.69 arba as its reserve. The Non-Performing Loan (NPL) stands at 1.58%.

In the third quarter, the annualized EPS of the bank stands at Rs 25.69. The net worth per share stands at Rs 158.48 and qtr end PE ratio stands at 12.84 times.

Major Highlights:

 * Figure are of Immediate Previous Year Ending (Audited)

 * Published EPS, Networth and PE may differ. As per NFRS standard, Weighted average number of shares is taken while calculating EPS, Networth and PE but we have taken number of shares as per Q3 end paid up capital.