Prime reports a net profit growth of 37.02%; Bank has the capacity of Rs 1.60 arba of distributable profit
Thu, Aug 15, 2019 1:41 PM on Stock Market, Financial Analysis, Latest,
Prime Commercial Bank Limited (PCBL) has reported a 37.02% growth in net profit in the fourth quarter of FY 2075/76.
The bank’s profit has increased from Rs 1.72 arba in the fourth quarter of the fiscal year 2074/75 to Rs 2.36 arba in the fourth quarter of the fiscal year 2075/76.
In the same quarter, the bank has Rs 1.60 arba as distributable profit after Regulatory Adjustments and PL appropriations which can be utilized in distributing dividends to its shareholders.
The bank’s deposit increased by 6.06% to Rs 77.04 arba whereas loans and advances have increased by 8.01% to Rs 72.51 arba till the fourth quarter. The net interest income (core business income) of the bank has increased by a good margin of 34.95% to Rs 3.59 arba from Rs 2.66 arba of the corresponding quarter.
The bank’s paid up capital stands at Rs 9.31 arba with Rs 2.60 arba as its reserve. The Non-Performing Loan (NPL) stands at 0.92%.
In the fourth quarter, the annualized EPS of the bank stands at Rs 25.38. The net worth per share stands at Rs 145.72 and quarter end PE ratio stands at 10.83 times.
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