Western Development Bank Limited (WDBL) has made a remarkable progress in the third quarter of the ongoing fiscal year 2073/74.
As per its third quarter financial statement published today, its net profit has reached Rs 4.83 crore—up 126.33% from Rs 2.13 crore in the same period last year. Its operating profit has also increased with the same proportion to Rs 7.59 crore in this period.
This rise in its profit perfectly complements its increase in paid up capital that had increased by 100% after issuance of 1:1 right shares. Its ability to increase its EPS in accordance with the increase in paid up capital can be taken as a positive leap. Its CD ratio also stands at a relaxed 67.17%, so it has much more room for growth.
With Rs 2.29 arba in deposits and Rs 1.83 arba in floated loans till third quarter this year, its net interest income has increased to Rs 17.02 crore.
As of the end of Q3 this year, its paid up capital stands at Rs 31.39 crore with reserve of almost Rs 13 crore. This has increased its net worth to Rs 141.40 per share.
WDBL is undergoing merger with Namaste Bittiya Sanstha Limited, due to which its trading is in halt in NEPSE.
Major Highlights:
| Indicators (Rs in "000") |
FY 2073/74 Q3 |
FY 2072/73 Q3 |
Difference (%) |
| Paid Up Capital |
313,920 |
156,960 |
100.00% |
| Reserve and Surplus |
129,967 |
24,440 |
431.78% |
| Deposits |
2,293,981 |
2,042,593 |
12.31% |
| Loans and Advances |
1,838,898 |
1,301,503 |
41.29% |
| Net Interest Income |
170,282 |
120,060 |
41.83% |
| Provision |
11,884 |
5,383 |
120.76% |
| Write Back |
- |
- |
- |
| Operating Profit |
75,972 |
33,566 |
126.33% |
| Net Profit |
48,346 |
21,360 |
126.33% |
| Capital Adequacy Ratio |
26.46% |
13.83% |
- |
| NPL |
0.56% |
0.56% |
0.00% |
| Cost of Fund |
6.46% |
5.98% |
|
| CD Ratio (as per NRB) |
67.17% |
58.52% |
- |
| EPS (Annualized) |
20.53 |
18.15 |
13.17% |
| PE Ratio |
22.73 |
|
|
| Networth Per Share |
141.40 |
|
|
