Prime Commercial Bank Limited (PCBL) has registered a profit rise of 32.90 percent in the fourth quarter of the last fiscal year 2073/74.
According to the unaudited financial report published by the commercial bank today, its net profit has surged to Rs 1.48 arba in the fourth quarter from 1.11 arba in the corresponding quarter of the last fiscal year 2072/73. Likewise, the operating profit has increased to Rs 2.01 arba from Rs 1.43 arba as compared to the corresponding quarter of last fiscal year.
Prime Commercial Bank’s net interest income has risen to Rs 1.94 arba in the fourth quarter as compared to Rs 1.58 arba in the corresponding quarter.
Recently, PCBL had acquired Biratlaxmi Bikas Bank and Country Development Bank in share swap ratio of 100:75:40 respectively. The bank has published consolidated financial statements in Q4 and its paid up capital stood at Rs 6.32 arba in the FY 2073/74. As per NRB’s directive for all commercial banks to increase their paid up capital to a minimum of Rs 8 arba by the end of FY 2073/74, PCBL will need to increase its capital by further 26.60%.
PCBL reserves and surplus increased by massive 269.41 % to Rs 3.12 arba. Previously in the Q4 of the FY 072/73, the reserve and surplus stood at Rs 84.62 crores
The bank also amassed huge amount of deposits. Deposits collection has reached Rs 65.86 arba in Q4 from Rs 48.34 arba in the corresponding period last year--rises by 36.25 percent.
Likewise, it has extended loans and advances of Rs 57.71 arba in Q4 whereas in the same period last year the figure stood at Rs 40.27 arba. Its CD ratio stands at 76.80%.
Its non-performing loan has declined to 0.78 percent in Q4 from 1.23 percent in the previous year report.
PCBL’s Earnings per share (EPS) has slightly declined to Rs 23.44 in Q4 from Rs 24.48 in the corresponding quarter. Its net worth per share is at Rs 149.42, and P/E ratio at 17.96 times.
Major Highlights:
| Indicators (Rs in "000") |
FY 2073/74 Q4 |
FY 2072/73 Q4 |
Growth (%) |
| Paid Up Capital |
6,325,432 |
4,557,473 |
38.79 |
| Reserve and Surplus |
3,126,015 |
846,223 |
269.41 |
| Deposits |
65,865,251 |
48,342,121 |
36.25 |
| Loans and Advances |
57,710,190 |
40,272,094 |
43.30 |
| Net Interest Income |
1,904,382 |
1,588,461 |
19.89 |
| Provision |
220,290 |
273,967 |
(19.59) |
| Write Back |
185,677 |
309,677 |
(40.04) |
| Operating Profit |
2,012,464 |
1,435,009 |
40.24 |
| Net Profit |
1,482,859 |
1,115,760 |
32.90 |
| Capital Adequacy Ratio (%) |
13.36 |
11.60 |
15.17 |
| NPL (%) |
0.78 |
1.23 |
(36.59) |
| Base Rate (%) |
10.64 |
6.97 |
52.65 |
| Cost of Fund (%) |
8.15 |
4.33 |
88.22 |
| CD Ratio (as per NRB) )%) |
76.80 |
77.13 |
(0.43) |
| EPS (Annualized) |
23.44 |
24.48 |
(4.24) |
| Networth Per Share |
149.42 |
118.57 |
26.02 |
| P/E Ratio |
17.96 |
- |
|
