Rise in net interest income leads to 54.24% growth in net profit of Prime Bank in Q1; CCD ratio stands at 80.03%
Thu, Nov 5, 2020 7:07 AM on Company Analysis, Latest,
Prime Commercial Bank Limited (PCBL) has published its first-quarter report for the FY 2077/78 with rise in net profit by 54.24%.
The bank’s profit has increased from Rs 65.97 crore in the first quarter of the fiscal year 2076/77 to Rs 1.01 arba in the first quarter of the fiscal year 2077/78. In the same quarter, the bank has Rs 33.84 crore as distributable profit after PL Appropriation and Regulatory Adjustments.
The bank’s deposit from customers has increased by 4.24% (compared to the immediate previous year ending) to Rs 1.24 kharba and loans and advances to customers have increased by 2.71% (compared to the immediate previous year ending) to Rs 1.13 kharba in the first quarter. The net interest income of the bank has increased by 46.24% to Rs 1.55 arba from Rs 1.06 arba of the corresponding quarter.
The bank’s paid-up capital stands at Rs 13.98 arba with Rs 7.58 arba as its reserve and surplus.
The Non-Performing Loan (NPL) has increased to 1.37% from 0.14%. The bank credit to deposit ratio stands (CCD) at 80.03%.
In the first quarter, the annualized EPS of the bank stands at Rs 29.11. The net worth per share stands at Rs 154.26 and the qtr end PE ratio stands at 9.86 times.
Major Highlights:
* Figure is of Immediate Previous Year Ending
|
Particulars (In Rs '000) |
Prime Bank |
||
|---|---|---|---|
|
Q1 2077/78 |
Q1 2076/77 |
Difference |
|
|
Share Capital* |
13,985,250 |
13,985,250 |
0.00% |
|
Share Premium* |
645 |
645 |
|
|
Retained Earnings* |
2,120,777 |
1,764,348 |
20.20% |
|
Reserves* |
5,466,544 |
4,795,694 |
13.99% |
|
Deposits from Customers* |
124,508,449 |
119,441,614 |
4.24% |
|
Loans & Advances to customers* |
113,447,296 |
110,454,296 |
2.71% |
|
Net Interest Income |
1,550,837 |
1,060,505 |
46.24% |
|
Fee and Commission Income |
601,077 |
447,426 |
34.34% |
|
Impairment Charge/(Reversal) |
257,127 |
251,618 |
- |
|
Personnel Expenses |
359,899 |
256,686 |
40.21% |
|
Operating Profit |
1,447,652 |
944,498 |
53.27% |
|
Profit/(Loss) for the Year |
1,017,635 |
659,768 |
54.24% |
|
Total Comprehensive Income |
1,032,310 |
641,710 |
60.87% |
|
Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments |
338,447 |
|
|
|
Capital Adequacy Ratio (CAR) |
14.08 |
12.75 |
10.43% |
|
NPL |
1.37 |
1.14 |
20.18% |
|
CCD (as per NRB Directives) |
80.03 |
77.86 |
2.79% |
|
Cost of Fund (%) |
6.26 |
7.67 |
-18.38% |
|
Base Rate (%) |
8.12 |
9.67 |
-16.03% |
|
Annualized EPS (In Rs.) |
29.11 |
18.87 |
54.24% |
|
Net Worth per Share (In Rs.) |
154.26 |
146.91 |
5.00% |
|
Qtr End PE Ratio (times) |
9.86 |
- |
- |
|
Qtr End Market Price |
287 |
- |
- |
