Prime Commercial Bank publishes balanced report in the fourth quarter; EPS reaches Rs 24.18 after profit increases by 42.33%

Tue, Aug 14, 2018 1:59 AM on Financial Analysis, Latest, Stock Market,

Prime Commercial Bank Limited (PCBL) has also published its fourth quarter report based on the Nepal Financial Reporting Standards (NFRS). The bank has reported a massive rise in the net profit by 42.33% in the fourth quarter of the fiscal year 2074/75.

The bank’s profit has increased from 1.36 arba in the fourth quarter of the fiscal year 2073/74 to Rs 1.94 arba in the fourth quarter of the fiscal year 2074/75. In the last quarter of the FY 2074/75, the bank has Rs 1.89 arba as Free Profit after Regulatory Adjustments which can be utilized in distributing dividends to its shareholders.

The bank’s deposit has increased by 23.19% to Rs 81.31 arba and loans and advances have also increased by 20.87% to Rs 70.92 arba in the last quarter. The borrowings of the bank have decreased to Rs 1.26 arba from Rs 1.49 arba. The net interest income of the bank has also increased to Rs 2.67 arba from Rs 1.92 arba of the corresponding quarter.

The bank’s paid up capital stands at Rs 8.03 arba with Rs 3.71 arba as its reserve.

The Non-Performing Loan (NPL) has also decreased to 0.66% from 0.88%.

In the fourth quarter, the EPS of the bank stands at Rs 24.18. The net worth per share stands at Rs 146.20.

Major Highlights: 

Particulars (In Rs '000)

PCBL

Q4 2074/75

Q4 2073/74

Difference

Paid Up Capital

8,033,299

8,033,299

0.00%

Reserve & Surplus

3,711,714

1,883,968

97.02%

Deposits

81,313,340

66,005,991

23.19%

Borrowings

1,269,890

1,494,861

-15.05%

Loans & Advances

70,927,683

58,682,070

20.87%

Net Interest Income

2,666,284

1,921,904

38.73%

Operating Profit

2,661,376

2,023,179

31.54%

Net Profit

1,942,309

1,364,668

42.33%

Total Comprehensive Income after Share of NCI

1,838,559

1,416,416

29.80%

Add/ Less: Regulatory adjustment as per NRB

(50,270)

103,275

-148.68%

Free Profit/ (Loss) after Regulatory Adjustments

1,892,039

1,467,943

28.89%

NPL

0.66

0.88

-25.00%

Annualized EPS (In Rs.)

24.18

16.99

42.33%

Net Worth per Share (In Rs.)

146.20

123.45

18.43%