Rise in core business income leads to excellent 45.16% rise in net profit of Mega Bank in Q4; has Rs 1.51 arba as distributable profit
Fri, Aug 13, 2021 4:13 AM on Financial Analysis, Latest,
Mega Bank Nepal Limited (MEGA) has published its fourth-quarter report for the FY 2077/78 with a rise in net profit by 45.16%.
The bank’s profit has increased from Rs 1.58 arba in the fourth quarter of the fiscal year 2076/77 to Rs 2.30 arba in the fourth quarter of the fiscal year 2077/78.
In the same quarter, the bank has Rs 1.51 arba as the distributable profit after PL Appropriation and Regulatory Adjustments.
The bank’s deposit from customers has increased by 7.04% to Rs 1.36 kharba and loans and advances to customers increased by 24.28% to Rs 1.37 kharba. The CCD ratio of the banks reaches 82.69%.
The net interest income (core business income) of the bank has increased by 38.95% to Rs 5.80 arba.
The bank’s paid-up capital stands at Rs 14.65 Arba with Rs 5.64 Arba as its reserve and surplus. The Non-performing loan has slightly risen to 1.26% from 1.20%.
In the fourth quarter, the EPS of the bank stands at Rs 15.71. The net worth per share stands at Rs 138.55 and the qtr end PE ratio stands at 23.29 times.
Major Highlights:
| Particulars (In Rs '000") | Mega Bank Limited | ||
|---|---|---|---|
| Q4 2077/78 | Q4 2076/77 | Difference | |
| Share Capital | 14,654,965 | 13,138,621 | 11.54% |
| Share Premium | 306,371 | 235,747 | 29.96% |
| Retained Earnings | 1,516,073 | 1,710,943 | -11.39% |
| Reserves | 3,826,344 | 2,926,265 | 30.76% |
| Deposits from Customers | 136,893,588 | 127,894,615 | 7.04% |
| Loans & Advances to customers | 137,318,905 | 110,493,341 | 24.28% |
| Net Interest Income | 5,804,668 | 4,177,408 | 38.95% |
| Impairment Charge/(Reversal) | 848,119 | 806,439 | 5.17% |
| Personnel Expenses | 1,854,388 | 1,260,156 | 47.16% |
| Operating Profit | 3,270,319 | 2,235,283 | 46.30% |
| Non Operating Income | 31,254 | 17,529 | 78.30% |
| Profit/(Loss) for the Year | 2,302,586 | 1,586,215 | 45.16% |
| Total Comprehensive Income | 2,434,652 | 1,776,990 | 37.01% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | 1,515,845 | ||
| Capital Adequacy Ratio (CAR) | 12.98 | 12.88 | 0.78% |
| NPL | 1.26 | 1.2 | 5.00% |
| CCD (as per NRB Directives) | 82.69 | 75.35 | 9.74% |
| Cost of Fund (%) | 5.27 | 6.93 | -23.95% |
| Interest Rate Spread (%) | 4.16 | 4.39 | -5.24% |
| Base Rate (%) | 7.61 | 8.32 | -8.53% |
| EPS (In Rs.) | 15.71 | 12.07 | 30.14% |
| Net Worth per Share (In Rs.) | 138.55 | 137.09 | 1.06% |
| Qtr End PE Ratio (times) | 23.29 | - | - |
| Qtr End Market Price | 366 | - | - |
