Nepal Investment Bank Q4 earning surges by 31.82% to Rs 2.59 arba; Reserve rises to Rs 10.62 arba; to acquire Ace Dev Bank
Sun, Aug 7, 2016 11:55 AM on Latest, Financial Analysis, Featured, Stock Market,
Nepal Investment Bank Limited (NIB) has posted a net profit rise of 31.82 percent in the fourth quarter (Q4) of last fiscal year 2072/73.
As per the unaudited quarterly report for the fourth quarter today, the commercial bank has registered a net profit of Rs. 2.59 arba in the fourth quarter of last fiscal year 2072/73, up from Rs. 1.97 arba in the corresponding quarter of fiscal year 2071/72.
The profit is attributable to its core business as its net interest income surged from Rs. 2.98 arba in the previous year to Rs.3.95 arba in previous year report.
Nepal Investment Bank has a paid up capital of Rs. 7.25 arba and a reserve of Rs.10.62 arba at present.
NIB has collected Rs.1.08 kharba in deposits and has extended Rs.87 arba in loans in the fourth quarter of 2072/73 as compared to Rs. 90.63 arba in deposit and Rs.67.69 arba in loans in the corresponding quarter of fiscal year 2071/72.
The bank’s non-performing loan decline to 0.68 percent in Q4 from 1.25 percent in corresponding quarter Its CD ratio stands at 75.74 percent.
Nepal Investment Bank’s annualized EPS has risen to Rs. 35.82 in Q4 from Rs. 31.07 in the corresponding quarter. Likewise, its net worth per share now stands at Rs.246.38, up from Rs.154.81. Its price earning ratio (P/E) stands at 29.03.
Nepal Invest Bank Five year Financial Highlights:
Meanwhile, Nepal Investment Bank has signed memorandum of understanding (MoU) to acquire Ace Development Bank Limited (ACEDBL) on Friday (Shrawan 21, 2073).
After the completion of acquisition process, NIBL and ACEDBL will start its service under the name of Nepal Investment Bank Ltd. The acquisition process is aimed to complete by January 2017. The share swap ratio of NIB and ACEDBL has been set at 1:042.
Nepal Investment Bank had issued 90,69,388 unit shares worth Rs 5.45 arba as a part of Further Public Offering (FPO) from Falgun 11 to Falgun 14, 2072. The FPO was issued at Rs 601/unit.
Meanwhile, Nepal Investment Bank has signed memorandum of understanding (MoU) to acquire Ace Development Bank Limited (ACEDBL) on Friday (Shrawan 21, 2073).
After the completion of acquisition process, NIBL and ACEDBL will start its service under the name of Nepal Investment Bank Ltd. The acquisition process is aimed to complete by January 2017. The share swap ratio of NIB and ACEDBL has been set at 1:042.
Nepal Investment Bank had issued 90,69,388 unit shares worth Rs 5.45 arba as a part of Further Public Offering (FPO) from Falgun 11 to Falgun 14, 2072. The FPO was issued at Rs 601/unit.
