Rise in core business income of Global IME Bank results 33.02% profit growth; has 23% dividend distribution capacity

Global IME Bank Limited (GBIME) has published a satisfactory fourth quarter report for FY 2075/76 with 33.02% growth in net profit.

The bank’s profit has increased from Rs 2.10 arba in the fourth quarter of the fiscal year 2074/75 to Rs 2.79 arba in the fourth quarter of the fiscal year 2075/76.

The bank’s deposit from customers increased by 14.53% to Rs 1.20 kharba and also loans and advances to customers stands rises by 22.62% to Rs 1.08 kharba till the fourth quarter. The net interest income (core business income) of the bank has increased by an outstanding 33.32% to Rs 5.16 arba from Rs 3.87 arba of the corresponding quarter.

In the same quarter, the bank has Rs 2.42 arba as distributable profit after Regulatory Adjustments and PL appropriations which can be utilized in distributing dividends to its shareholders. This means Global IME Bank can distribute maximum 23% (approx.) dividend if other regulatory requirements are not required. 

The bank’s paid up capital stands at Rs 10.31 arba with Rs 6.04 arba as its reserve and surplus. The Non-Performing Loan (NPL) has also slightly decreased to 0.55% from 0.77%.

In the fourth quarter, the EPS of the bank stands at Rs 27.11. The net worth per share stands at Rs 158.32 and PE ratio stands at 10.88 times.

Global IME Bank Limited share trading in NEPSE is kept on halt due to ongoing merger with Janata Bank Limited and also the bank is in final stage to acquire Hathaway Finance Limited.

Major Highlights:

 * Figure are of Immediate Previous Year Ending (Audited)

* Published EPS, Networth and PE may differ. As per NFRS standard, Weighted average number of shares is taken while calculating EPS, Networth and PE but we have taken number of shares as per Q4 end paid up capital.