Global IME Bank's Net Profit Soars by 37.12% in Q3; EPS Hits Rs. 15.86 While Impairment Charges Fell By 40.92%
Sun, Apr 20, 2025 8:38 AM on Financial Analysis, Company Analysis, Latest,
Global IME Bank Limited (GBIME) has reported a significant performance in the third quarter of the fiscal year 2081/82, posting a net profit of Rs. 4.53 Arba, marking a significant 37.12% increase compared to Rs. 3.30 Arba in the corresponding quarter of the previous year.
The bank’s retained earnings surged by a remarkable 600.44%, reaching Rs. 3.54 Arba from just Rs. 50.67 crores. During the review period, deposits grew by 6.20% to Rs. 5.17 Kharba, while paid-up capital increased by 5.50% to Rs. 38.12 Arba. However, reserves slightly declined by 1.29% to Rs. 24.45 Arba.
Despite a 5.46% decline in net interest income, the bank managed to boost its operating profit by 34.41% to Rs. 6.33 Arba, supported by a sharp 40.92% fall in impairment charges. Loan disbursements rose by 11.87%, amounting to Rs. 4.13 Kharba.
The annualized Earnings per share (EPS) climbed to Rs. 15.86, up from Rs. 12.20, while net worth per share improved by 7.80% to Rs. 109.31. The bank also reported a distributable profit of Rs. 3.54 Arba, a major turnaround from the previous year's loss in the same quarter.
On the downside, non-performing loans (NPL) edged up to 4.98%, and personnel expenses increased by 7.69%. However, the cost of funds dropped significantly by 33.19%, enhancing the bank's interest spread.
At the end of Q3, the bank’s PE ratio stood at 13.79 times.
Major Highlights
* Figures are of the Immediate Previous Year Quarter Ending
| Particulars (In Rs '000) | Global IME Bank | ||
|---|---|---|---|
| Q3 2081/82 | Q3 2080/81 | Difference | |
| Paid Up Capital | 38,115,853.00 | 36,128,770.00* | 5.50% |
| Retained Earnings | 3,549,252.00 | 506,718.00* | 600.44% |
| Reserves | 24,452,843.00 | 24,771,659.00* | -1.29% |
| Deposits | 517,668,834.00* | 487,455,855.00* | 6.20% |
| Borrowings | 12,109,421.00 | 12,100,951.00* | 0.07% |
| Loan and advances to Customers | 413,286,442.00 | 369,424,519.00* | 11.87% |
| Net Interest Income | 12,317,191.00 | 13,029,041.00 | -5.46% |
| Personnel Expenses | 3,652,561.00 | 3,391,768.00 | 7.69% |
| Impairment Charges | 3,110,133.00 | 5,264,625.00 | -40.92% |
| Operating Profit | 6,336,653.00 | 4,714,323.00 | 34.41% |
| Net Profit | 4,534,099.00 | 3,306,552.00 | 37.12% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | 3,549,252.00 | -423,102.00 | - |
| Capital Adequacy (%) | 12.36 | 12.01 | 2.91% |
| NPL% | 4.98 | 4.74 | 5.06% |
| Cost of Fund (%) | 4.65 | 6.96 | -33.19% |
| Annualized EPS (In Rs.) | 15.86 | 12.20 | 29.98% |
| Net Worth per Share (In Rs.) | 109.31 | 101.40 | 7.80% |
| Qtr end PE Ratio (times) | 13.79 | ||
| Qtr End Market Price | 218.69 | - | - |
