Citizens Bank International Limited Records 6.96% Net Profit Decline in Q2 2080/81; Distributable Profit Is In Negative
Sun, Jan 21, 2024 8:32 AM on Financial Analysis, Company Analysis, Latest,
Citizens Bank International Limited (CZBIL) has unveiled its second-quarter fiscal report for 2080/81, depicting a 6.96% dip in net profit to Rs 78.27 Crores.
The bank has a total paid-up capital of Rs. 14.20 Arba and reserves amounting to Rs. 6.77 Arba. However, the retained earnings stood negative at Rs 21.3 Crores.
During this quarter, the bank's total deposits soared to an impressive Rs 1.75 Kharba, with loans and advances to customers reaching Rs 1.48 Kharba. Despite a marginal 0.21% decrease, Net Interest Income remained substantial at Rs. 2.83 Arba. However, personnel expenses stood at Rs. 93.01 Crores and impairment charges of Rs. 85.95 Crores.
Examining financial metrics, the second quarter reported an annualized EPS of Rs 11.02, and the net worth per share stood at Rs 146.20. Yet, the bank grapples with a spike in Non-Performing Loans (NPL) to 4.07%. Additionally, the disclosure of a negative distributable profit of Rs. 21.30 Crores adds a notable dimension to CZBIL's financial narrative during this period.
* Figures are of Immediate Previous Year Quarter Ending
| Particulars (In Rs '000) | Citizens Bank International | ||
|---|---|---|---|
| Q2 2080/81 | Q2 2079/80 | Difference | |
| Paid Up Capital | 14,200,974.01 | 14,200,974.01* | 0.00% |
| Share Premium | 0.00 | 0.00 | - |
| Retained Earnings | -213,091.61 | 846,989.18* | -125.16% |
| Reserves | 6,774,208.15 | 5,915,555.47* | 14.52% |
| Deposits | 175,808,073.73 | 168,842,139.61* | 4.13% |
| Loans & Advances | 148,304,167.36 | 139,832,005.02* | 6.06% |
| Net Interest Income | 2,839,831.47 | 2,845,787.61 | -0.21% |
| Personnel Expenses | 930,177.79 | 930,821.52 | -0.07% |
| Impairment Charges | 859,501.16 | 619,214.30 | 38.81% |
| Operating Profit | 1,086,454.06 | 1,191,972.62 | -8.85% |
| Net Profit | 782,784.84 | 841,333.05 | -6.96% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustment | -213,091.61 | 107,174.08 | -298.83% |
| Capital Adequacy (%) | 13.00 | 11.84 | 9.80% |
| Cost of Fund (%) | 7.77 | 9.22 | -15.73% |
| NPL (%) | 4.07 | 2.99 | 36.12% |
| Annualized EPS (In Rs.) | 11.02 | 11.85 | -6.96% |
| Net Worth per Share (In Rs.) | 146.20 | 147.62 | -0.96% |
| Qtr end PE Ratio (times) | 15.61 | ||
| Qtr End Market Price | 172.1 | - | |
