Prime Commercial becomes 14th bank to enter in billionaire club; earns Rs 1.06 arba in Q2
Sun, Feb 10, 2019 8:46 AM on Financial Analysis, Stock Market, Featured,
Prime Commercial Bank Limited (PCBL) has reported an outstanding rise in its net profit for the second quarter of the fiscal year 2075/76. As per the quarterly report published today, the net profit has increased by 33.91% in Q2 of the current fiscal year.
The bank’s profit has increased from Rs 79.22 crore in the second quarter of the fiscal year 2074/75 to Rs 1.06 arba in the second quarter of the fiscal year 2075/76. In the second quarter of the FY 2075/76, the bank had Rs 93.42 crore as Free Profit after Regulatory Adjustments which can be utilized in distributing dividends to its shareholders maintaining mandatory reserve as per NRB directives.
The bank’s deposit rises by 7.97% to Rs 76.72 arba and loans and advances have also increased by 15.20% to Rs 72.60 arba in the second quarter.
The net interest income of the bank has increased to Rs 1.77 arba from Rs 1.16 arba of the corresponding quarter.
The bank’s paid up capital stands at Rs 8.033 arba with Rs 4.22 arba as its reserve as of the end of Q2 of FY 2075/76.
The Non-Performing Loan (NPL) has increased to 1.58% from 1.43%.
The bank’s CCD ratio stands at 78.55% and base rate declines to 10.17% from 10.76%.
In the second quarter, the EPS of the bank stands at Rs 26.41. The net worth per share stands at Rs 152.55 and PE stands at 12.42 times.
PCBL has offered 16% bonus shares to its shareholders for FY 2074/75. The AGM for FY 2074/75 yet to be announced. The company is in process to acquire National Level OM Development Bank.
Major Highlights:
|
Particulars (In Rs '000) |
Prime Commercial Bank |
||
|---|---|---|---|
|
Q2 2075/76 |
Q2 2074/75 |
Difference |
|
|
Paid Up Capital |
8,033,299 |
6,325,432 |
27.00% |
|
Reserve & Surplus |
4,221,208 |
3,999,486 |
5.54% |
|
Deposits |
76,727,057 |
71,060,891 |
7.97% |
|
Borrowings |
1,466,751 |
2,016,891 |
-27.28% |
|
Loans & Advances |
72,604,017 |
63,025,621 |
15.20% |
|
Net Interest Income |
1,772,203 |
1,164,060 |
52.24% |
|
Impairment Charge/(Reversal) |
-321,568 |
-137,400 |
- |
|
Operating Profit |
1,511,912 |
1,083,651 |
39.52% |
|
Profit/(Loss) for the Year |
1,060,897 |
792,250 |
33.91% |
|
Total Comprehensive Income |
1,047,427 |
758,480 |
38.10% |
|
Add/ Less: Regulatory adjustment as per NRB |
-126,629 |
-77,122 |
- |
|
Free Profit/ (Loss) after Regulatory Adjustments |
934,268 |
715,128 |
30.64% |
|
Capital Adequacy Ratio (CAR) |
12.68 |
12.76 |
-0.63% |
|
NPL |
1.58 |
1.43 |
10.49% |
|
CCD (as per NRB Directives) |
78.55 |
77.5 |
1.35% |
|
Base Rate (%) |
10.17 |
10.76 |
-5.48% |
|
Annualized EPS (In Rs.) |
26.41 |
25.05 |
5.44% |
|
Net Worth per Share (In Rs.) |
152.55 |
163.23 |
-6.54% |
|
PE Ratio |
12.42 |
- |
- |
