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Prime Commercial Bank reported a 31.36% rise in net profit in the third quarter of FY 2075/76

Gyanmandu:
Prime Commercial Bank has published third quarter report of FY 2075/76 based on Nepal financial reporting standard (NFRS). It has reported increase in net profit by 31.36% in the comparing period. It has reported net profit of Rs.1.54 arba in Q3 which was Rs.1.17 arba in the same period of last fiscal year.

The bank has collected deposit Rs. 68.65 arba in Q3 of FY 2075/76 from Rs.72.63 arba in Q3 of last Fiscal year. The bank’s deposit decline by 5.48%. Whereas, loans and advances have increased by 4.06%. It had extended Rs.69.86 arba in loan and advances which was Rs.67.13 arba in same period of last fiscal year. It has made net interest income of Rs. 2.60 arba in Q3 from Rs.1.83 arba in Q3 of last fiscal year 2074/75.  The net interest income (core business income) of the bank has increased by a good margin of 42.15%.


The bank has made expanses of Rs.57.81 crore for staff salary which was Rs. 45.17 crore in Q3 of last year. It has posted operating profit of Rs.2.19 arba from Rs.1.70 arba in the corresponding quarter of last year. The bank’s paid up capital stands at Rs 8.03 arba with Rs 4.69 arba as its reserve.It is to approve 16% bonus shares from AGM. The Non-Performing Loan (NPL) stands at 1.58% from 1.06% in the last yearIn the third quarter, the annualized EPS of the bank stands at Rs 25.69. The net worth per share stands at Rs 158.48 and qtr end PE ratio stands at 12.84 times.


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