Rise in net interest and fee based income leads to 22.61% rise in net profit of Prime Bank in Q2; EPS stands at Rs 26.86
Sun, Feb 2, 2020 7:22 AM on Financial Analysis,
Prime Bank Limited (PCBL) has published its second quarter report for the FY 2076/77 today with a satisfactory 22.61% rise in net profit. The bank’s profit has increased from Rs 1.06 arba in the second quarter of the fiscal year 2075/76 to Rs 1.30 arba in the second quarter of the fiscal year 2076/77. The rise in net profit is mainly due to rise in net interest income and fee based income.
In the same quarter, the bank has Rs 86.59 crore as distributable profit after PL Appropriation and Regulatory Adjustments.
The bank’s deposit from customers has increased by 4.30% (compared to immediate previous year ending) to Rs 80.35 arba and loans and advances to customers increased by 11.54% (compared to immediate previous year ending) to Rs 80.91 arba till the second quarter. The net interest income (core business income) of the bank has increased by 22.14% to Rs 2.16 arba from Rs 1.77 arba of the corresponding quarter.
The bank’s paid up capital stands at Rs 9.68 arba with Rs 5.65 arba as its reserve and surplus. The Non-performing loan stands at 1.45%.
In the second quarter, the annualized EPS of the bank stands at Rs 26.86. The net worth per share stands at Rs 158.41 and qtr end PE ratio stands at 9.68 times.
Prime Bank has proposed 16% bonus for last fiscal year and its AGM has already approved this agendas. The approved bonus shares is yet to be adjusted in Q2 report.
The bank is in process to acquire Kailash Bikas Bank Limited and Lalitpur Finance Limited.
Major Highlights:
* 2075/76 figure are of Immediate Previous Year Ending.
|
Particulars (In Rs '000) |
Prime Bank |
||
|---|---|---|---|
|
Q2 2076/77 |
Q2 2075/76 |
Difference |
|
|
Share Capital* |
9,686,852 |
9,318,627 |
3.95% |
|
Share Premium* |
645 |
|
|
|
Retained Earnings* |
2,461,117 |
1,575,646 |
56.20% |
|
Reserves* |
3,196,731 |
2,509,717 |
27.37% |
|
Deposits from Customers* |
80,353,535 |
77,040,074 |
4.30% |
|
Loans & Advances to customers* |
80,915,443 |
72,545,402 |
11.54% |
|
Net Interest Income |
2,164,610 |
1,772,203 |
22.14% |
|
Fee and Commission Income |
608,725 |
480,198 |
26.77% |
|
Impairment Charge/(Reversal) |
-311,986 |
-321,568 |
- |
|
Personnel Expenses |
489,641 |
355,245 |
37.83% |
|
Operating Profit |
1,853,756 |
1,514,468 |
22.40% |
|
Profit/(Loss) for the Year |
1,300,787 |
1,060,897 |
22.61% |
|
Total Comprehensive Income |
1,348,168 |
1,047,427 |
28.71% |
|
Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments |
865,959 |
- |
- |
|
Capital Adequacy Ratio (CAR) |
13.23 |
12.68 |
4.34% |
|
NPL |
1.45 |
1.58 |
-8.23% |
|
CCD (as per NRB Directives) |
76.54 |
78.55 |
-2.56% |
|
Cost of Fund (%) |
7.65 |
8.29 |
-7.72% |
|
Base Rate (%) |
9.45 |
10.17 |
-7.08% |
|
Annualized EPS (In Rs.) |
26.86 |
22.77 |
17.95% |
|
Net Worth per Share (In Rs.) |
158.41 |
143.84 |
10.13% |
|
Qtr End PE Ratio (times) |
9.68 |
- |
- |
|
Qtr End Market Price |
260 |
- |
- |
