Tinau Mission Dev. Bank published satisfactory Q4 report; net profit rises to Rs 19.68 crore; EPS stands at Rs 10.85

Sun, Jul 26, 2020 6:36 AM on Financial Analysis, Latest,
Tinau Miss...

Tinau Mission Development Bank Limited (TMDBL) has published a satisfactory fourth-quarter report for FY 2076/77 with massive 382.89% growth in net profit. The bank stated that despite of lockdown due to COVID-19, banks able to maintain healthy growth in major financial indicators.

TMDBL’s profit has increased from Rs 4.07 crore in the fourth quarter of the fiscal year 2075/76 to Rs 19.68 crore in the third quarter of the fiscal year 2076/77.

The development bank’s deposit from customers increased by 51.44% to Rs 16.05 Arba whereas loans and advances to customers rise by 39.91% to Rs 12.33 Arba till the fourth quarter. The net interest income (core business income) of the bank has increased by 199.67% to Rs 65.30 crore from Rs 21.79 crore of the corresponding quarter. The massive growth seen in the major indicators this year of TMDBL’s is mainly due to consolidated financial reports of Tinau Mission Development Bank and Nepal Community Development Bank which merged with each other.

The development banks have a distributable profit of Rs 11.29 crore.

TMDBL’s paid-up capital stands at Rs 1.81 Arba with Rs 41.45 crore as its reserve and surplus. The Non-Performing Loan (NPL) has increased to 1.53% from 0.34%.

In the fourth quarter, the EPS of the bank stands at Rs 10.85. The net worth per share stands at Rs 122.86 and PE ratio stands at 16.12 times.

Click here for Q4 report:

Major highlights

Particulars (In Rs '000)

Tinau Mission Dev. Bank

Q4 2076/77

Q4 2075/76

Difference

Paid Up Capital

1,813,127

1,144,168

58.47%

Share Premium

0

0

 

Retained Earnings

120,352

137,513

-12.48%

Reserves

294,218

177,674

65.59%

Deposits from Customers

16,055,742

10,602,264

51.44%

Loans & Advances to Customers

12,332,390

8,814,308

39.91%

Net Interest Income

653,030

217,919

199.67%

Fee and Commission Income

108,712

49,674

118.85%

Impairment Charge/(Reversal)

20,572

-3,435

-

Personnel Expenses

275,700

82,087

235.86%

Operating Profit

280,011

124,578

124.77%

Profit/(Loss) for the Year

196,810

40,757

382.89%

Total Comprehensive Income

201,479

43,405

364.19%

Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments

112,951

-

-

Capital Adequacy Ratio (CAR)

14.54

14.38

1.11%

NPL

1.53

0.34

350.00%

CCD (as per NRB Directives)

68.76

74.39

-7.57%

Cost of Fund (%)

7.25

9.07

-20.07%

Base Rate (%)

9.75

12.19

-20.02%

EPS (In Rs.)

10.85

3.56

204.72%

Net Worth per Share (In Rs.)

122.86

127.55

-3.67%

Qtr End PE Ratio (times)

16.12

-

-

Qtr End Market Price*

175

-

-

Price to Book (PB Ratio)

1.42

-

-