Prime Bank Q1 financials: earning rises by 13.38% with EPS of Rs 27.24; bank is in process to acquire Kailash Bikas Bank

Prime Commercial Bank Limited (PCBL) has published its first quarter report for the FY 2076/77 today with 13.38% growth in the net profit.

The bank’s profit has increased from Rs 58.19 crore in the first quarter of the fiscal year 2075/76 to Rs 65.97 crore in the first quarter of the fiscal year 2076/77. In the same quarter, the bank has Rs 22.88 crore as distributable profit after PL Appropriation and Regulatory Adjustments.

The bank’s deposit from customers has increased by 2.02% (compared to immediate previous year ending) to Rs 78.59 arba and loans and advances to customers increased by 9.13% (compared to immediate previous year ending) to Rs 79.13 arba in the first quarter. The net interest income (core business income) of the bank has increased by 9.30% to Rs 1.06 arba from Rs 97 crore of the corresponding quarter.

The bank’s paid up capital stands at Rs 9.68 arba with Rs 5.14 arba as its reserve and surplus.

The Non-Performing Loan (NPL) has decreased to 1.14% from 1.41%.

In the first quarter, the annualized EPS of the bank stands at Rs 27.24. The net worth per share stands at Rs 153.08 and qtr end PE ratio stands at 9.62 times.

Prime Bank had already acquired Kankai Bikas Bank Limited and its 3,682,250 units shares is listed on NEPSE for trading and also Prime Bank is in process to acquired Kailash Bikas Bank and Lalitpur Finance.

Prime Bank yet to announce dividend for FY 2075/76.

Click Here for Q1 report:

Major Highlights:

 * 2075/76 figure are of Immediate Previous Year Ending.

* 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 Q1 end paid up capital.