Western Development Bank reports significant increase of 28.12% in net profit; EPS stands at Rs 19.24
Thu, May 3, 2018 2:32 AM on Financial Analysis, Latest, Stock Market,
Western Development Bank Limited (WDBL) has published unaudited financial report for the third quarter today. It has stated that net profit has significantly increased to Rs 6.19 crore in third quarter of fiscal year 2074/75 from Rs 4.83 crore reported in the corresponding quarter of the previous fiscal year 2073/74.
Likewise, it extended loans of Rs 2.55 arba from Rs 1.83 arba. It has collected deposits of Rs 2.99 arba in the third quarter of the current fiscal year. It has paid up capital of Rs 42.93 crore with reserve of Rs 8.13 crore in Q3.
Net Interest income is the primary source of income for finance. Its net interest income has sizably increased from Rs 7.81 crore in the corresponding quarter last year to Rs 11.47 crore in the third quarter of fiscal year 2074/75. Its operating profit has inclined to Rs 9.71crore in Q3, from Rs 7.60 crore in corresponding quarter.
Earnings per Share (EPS) stands at Rs 19.24. The development bank’s non-performing loan (NPL) has increased to 1.67 percent in the current quarter. Currently, Net worth per share stands at Rs 119.05.
|
Particulars (In Rs '000) |
WDBL |
||
|---|---|---|---|
|
Q3 2074/75 |
Q3 2073/74 |
Difference |
|
|
Paid Up Capital |
429,312 |
313,920 |
36.76% |
|
Reserve & Surplus |
81,265 |
129,966 |
-37.47% |
|
Deposits |
2,998,977 |
2,293,980 |
30.73% |
|
Loans & Advances |
2,559,129 |
1,838,898 |
39.17% |
|
Net Interest Income |
114,719 |
78,085 |
46.92% |
|
Provision for possible losses |
11,477 |
11,884 |
-3.42% |
|
Operating Profit |
97,331 |
75,972 |
28.11% |
|
Net Profit |
61,938 |
48,345 |
28.12% |
|
NPL (%) |
1.67 |
0.56 |
198.21% |
|
Annualized EPS (In Rs.) |
19.24 |
20.53 |
-6.32% |
|
Net Worth per Share (In Rs.) |
119.05 |
|
- |
The development bank has merged with Namaste Bittiya Sanstha Limited in a swap ratio of 1:1. The AGM for the fiscal year 2073/74 is yet to be conducted by the bank.
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