Prime Commercial Bank Limited (PCBL) has posted a net profit surge of 24.45% in the third quarter of the ongoing fiscal year 2073/74.
As per the unaudited financial statement published by the commercial bank today, its net profit has increased to Rs 88.29 crore—up from Rs 70.95 crore in the same period last year. Its operating profit has also increased by 45% to Rs 1.25 arba in this period.
Its ability to keep its non-performing loans (NPL) low with the increase in cost of deposits can be taken as its positive aspects. As of the end of Q3, its deposit base has reached Rs 56.10 arba and loans of Rs 48.61 arba. In the same period last year, the figures stood at only Rs 46.27 arba and Rs 37.07 arba respectively.
PCBL recently started joint operation by acquiring Biratlaxmi Development Bank and Country Development Bank. Their joint financial statements will be released from the 4
th quarter report.
As of the end of Q3, PCBL’s paid up capital stands at Rs 5.79 arba, reserve at Rs 1.91 arba with EPS at Rs 20.32. Its net worth per share stands at Rs 132.98. PCBL had issued 3:1 right shares and 17.25% bonus shares for the FY 2072/73.
Major Highlights:
| Indicators (Rs in "000") |
FY 2073/74 Q3 |
FY 2072/73 Q3 |
Difference (%) |
| Paid Up Capital |
5,792,560 |
3,705,262 |
56.33% |
| Reserve and Surplus |
1,910,439 |
1,337,036 |
42.89% |
| Deposits |
56,107,653 |
46,278,909 |
21.24% |
| Loans and Advances |
48,611,483 |
37,071,070 |
31.13% |
| Net Interest Income |
1,315,546 |
1,115,468 |
17.94% |
| Provision |
244,677 |
283,942 |
-13.83% |
| Write Back |
133,817 |
250,267 |
-46.53% |
| Operating Profit |
1,253,693 |
864,683 |
44.99% |
| Net Profit |
882,961 |
709,514 |
24.45% |
| Capital Adequacy Ratio |
12.82% |
12.19% |
- |
| NPL |
1.37% |
1.59% |
-13.84% |
| Cost of Fund |
4.98% |
4.23% |
|
| CD Ratio (as per NRB) |
72.67% |
74.04% |
- |
| EPS (Annualized) |
20.32 |
25.53 |
-20.40% |
| PE Ratio |
23.57 |
|
|
| Networth Per Share |
132.98 |
|
|
