Global IME Bank Reports 49.51% Profit Surge in Q2, Distributable Profit stands at Rs 2.64 Arba, Impairment Charges Decline
Mon, Jan 20, 2025 7:48 AM on Financial Analysis, Highlight News,
Global IME Bank Limited (GBIME) has disclosed its financial performance for the second quarter of the fiscal year 2081/82, reporting a decent surge in its net profit. GBIME has revealed a 49.51% incline in net profit in its second-quarter, amounting to Rs 3.05 Arba.
The bank maintains a strong financial position with a total paid-up capital of Rs. 38.11 Arba and reserve and surplus of Rs. 26.52 Arba. Additionally, the bank disclosed a distributable profit of Rs 2.64 Arba.
During this quarter, the bank's total deposits reached a commendable Rs 5.13 Kharba, accompanied by loans and advances to customers totaling Rs 4 Kharba.
The net interest income slightly declined by 8.09%, reaching Rs. 8.29 Arba, while the operating profits rose to Rs. 4.20 Arba.
In terms of financial metrics for the second quarter, the bank reported an annualized EPS of Rs 16.02, with net worth per share standing at Rs 169.58. Non-Performing Loans (NPL) slightly rises to 4.86%.
Major Highlights:
* Figures are of Immediate Previous Year Quarter Ending
| Particulars (In Rs '000") | Global IME Bank | ||
|---|---|---|---|
| Q2 2081/82 | Q2 2080/81 | Difference | |
| Share Capital | 3,81,15,853 | 3,61,28,770* | 5.50% |
| Share Premium | 0 | 0 | 0.00% |
| Retained Earnings | 26,45,342 | 5,06,718* | 422.05% |
| Reserves | 2,38,77,419 | 2,47,71,659* | -3.61% |
| Deposits from Customers | 51,39,82,868 | 48,74,55,855* | 5.44% |
| Loans & Advances to customers | 40,70,88,213 | 36,94,24,519* | 10.20% |
| Net Interest Income | 82,98,525 | 90,28,790 | -8.09% |
| Impairment Charge/(Reversal) | 22,03,748 | 41,36,018 | -46.72% |
| Personnel Expenses | 23,11,798 | 24,02,478 | -3.77% |
| Operating Profit | 42,04,219 | 28,43,016 | 47.88% |
| Profit/(Loss) for the Year | 30,53,489 | 20,42,329 | 49.51% |
| Total Comprehensive Income | 32,31,466 | 19,99,868 | 61.58% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | 26,45,342 | ||
| Capital Adequacy Ratio (CAR) | 12.59 | 12.37 | 1.78% |
| NPL | 4.86 | 4.68 | 3.85% |
| CD (as per NRB Directives) | 78.53 | 80.04 | -1.89% |
| Cost of Fund (%) | 5.1 | 7.71 | -33.85% |
| Interest Rate Spread (%) | 3.98 | 3.99 | -0.25% |
| Base Rate (%) | 6.95 | 9.6 | -27.60% |
| Annualized EPS (In Rs.) | 16.02 | 11.31 | 41.72% |
| Net Worth per Share (In Rs.) | 169.58 | 169.97 | -0.23% |
| Qtr End PE Ratio (times) | 13.86 | - | - |
| Qtr End Market Price | 222 | - | - |
