Global IME Bank Reports 31.79% Increase in Net Profit for Q1 FY 2081/82 Despite Decline in Interest Income; Annualized EPS Rises to Rs. 16.74
Wed, Oct 23, 2024 6:05 AM on Financial Analysis, Company Analysis, Latest,
Global IME Bank Limited (GBIME) has posted a net profit of Rs 1.51 Arba for the first quarter of the fiscal year 2081/82, reflecting a 31.79% year-on-year growth.
The bank’s solid financial foundation is underlined by its paid-up capital of Rs 36.12 Arba, reserves amounting to Rs 24.89 Arba, and retained earnings of Rs 1.91 Arba.
During this quarter, the bank's total deposits surged to Rs 5.12 Kharba, with loans and advances reaching Rs 3.97 Kharba.
Despite a notable 14.22% decrease in Net Interest Income, which stood at Rs 4.11 Arba, Global IME Bank witnessed a 19.40% growth in its operating income. Personnel expenses amounted to Rs 1.17 Arba, and impairment charges saw a significant reduction of 39.85%, down to Rs 1.07 Arba.
Key financial indicators for the quarter include an annualized Earnings Per Share (EPS) of Rs 16.74 and a net worth per share of Rs 174.20. However, Non-Performing Loans (NPL) spiked to 4.67%. The bank also reported a distributable profit of Rs 1.91 Arba.
* Figures are of Immediate Previous Year Quarter Ending
Major Highlights:
| Particulars (In Rs '000) | Global IME Bank Limited | ||
|---|---|---|---|
| Q1 2081/82 | Q1 2080/81 | Difference | |
| Paid Up Capital | 36,128,770.00 | 36,128,770.00* | 0.00% |
| Retained Earnings | 1,916,101.00 | 1,104,566.00* | 73.47% |
| Reserves | 24,892,951.00 | 23,754,556.00* | 4.79% |
| Deposits | 512,940,584.00 | 487,462,540.00* | 5.23% |
| Borrowings | 10,840,538.00 | 12,100,951.00* | -10.42% |
| Loan and advances to Customers | 397,358,714.00 | 369,458,044.00* | 7.55% |
| Net Interest Income | 4,118,971.00 | 4,801,588.00 | -14.22% |
| Personnel Expenses | 1,172,255.00 | 1,424,901.00 | -17.73% |
| Impairment Charges | 1,071,776.00 | 1,781,772.00 | -39.85% |
| Operating Profit | 2,147,495.00 | 1,798,587.00 | 19.40% |
| Net Profit | 1,512,140.00 | 1,147,365.00 | 31.79% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | 1,916,101.00 | 3,323,302.00 | -42.34% |
| Capital Adequacy (%) | 12.46 | 13.27 | -6.10% |
| NPL% | 4.67 | 4.38 | 6.62% |
| Cost of Fund (%) | 5.50 | 8.17 | -32.68% |
| Annualized EPS (In Rs.) | 16.74 | 12.70 | 31.79% |
| Net Worth per Share (In Rs.) | 174.20 | 168.81 | 3.20% |
| Qtr end PE Ratio (times) | 15.71 | ||
| Qtr End Market Price | 263 | - | - |
