Everest Bank's Q3 Highlights: Net Profit Rises by 62.63%, NII Stands At Rs 5.58 Arba & CAR At 12.22%
Thu, Apr 20, 2023 11:35 AM on Latest, Financial Analysis, Stock Market,
Everest Bank Limited (EBL) has published its third-quarter report for the FY 2079/2080 with an increment in Net Profit by 62.63%. The bank's net profit has increased from Rs. 1.51 Arba in the third quarter of FY 2078/2079 to Rs. 2.46 Arba in the third quarter of FY 2079/2080.
In the same quarter, the bank has Rs 3.36 arba as distributable profit after PL Appropriation and Regulatory Adjustments.
The bank’s deposits from customers increased by 7.77% to Rs. 1.86 kharba whereas loans and advances to customers increased by 10.60% to Rs. 1.60 kharba by the third quarter.
The bank's Net Interest Income (core business income) has increased by 59.38% to Rs. 5.58 Arba compared to the corresponding quarter of the previous year.
The paid-up capital of EBL stands at Rs. 10.69 Arba with Rs. 13.46 Arba in Reserve and surplus.
The earnings per share (EPS) of the Bank stood at Rs. 30.74 and Net worth per share stood at Rs. 225.86. The company traded at a P/E multiple of 16.53 times.
The Capital Adequacy Ratio (CAR) of the bank stands at 12.22%.
| Particulars (In Rs '000) | Everest Bank Limited | ||
| Q3 2079/80 | Q3 2078/79 | Difference | |
| Paid Up Capital | 10,698,094.00 | 9,467,340.00 | 13.00% |
| Share Premium | 238,470.00 | 238,470.00 | 0.00% |
| Retained Earnings | 3,363,358.00 | 3,877,116.00 | -13.25% |
| Reserves | 9,862,829.00 | 9,211,626.00 | 7.07% |
| Deposits | 186,158,814.00 | 172,739,185.00 | 7.77% |
| Loans & Advances | 160,897,118.00 | 145,480,529.00 | 10.60% |
| Net Interest Income | 5,587,248.00 | 3,505,670.00 | 59.38% |
| Personnel Expenses | 1,639,333.00 | 1,330,595.00 | 23.20% |
| Provision for Possible Losses | 551,499.00 | 413,989.00 | 33.22% |
| Operating Profit | 3,522,886.00 | 2,166,177.00 | 62.63% |
| Net Profit | 2,466,064.00 | 1,516,324.00 | 62.63% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | 3,363,358.00 | 1,807,215.00 | 86.11% |
| Capital Adequacy (%) | 12.22 | 12.25 | -0.24% |
| Cost of Fund (%) | 8.09 | 6.82 | 18.62% |
| EPS (In Rs.) | 30.74 | 21.36 | 43.92% |
| Net Worth per Share (In Rs.) | 225.86 | 240.77 | -6.19% |
| Qtr end PE Ratio (times) | 16.53 | ||
| Qtr End Market Price | 508 | - | |
