Nepal Investment Mega Bank Net Profit Surges 33.47% To Rs 1.52 Arba; Distributable Profit Is In Negative
Fri, Nov 3, 2023 9:42 AM on Latest, Financial Analysis, Company Analysis,
Nepal Investment Mega Bank Limited (NIMB) recently disclosed its first-quarter report for the fiscal year 2080/81, showing an impressive growth in net profit by 33.47%. The bank's profit escalated to Rs 1.52 Arba during this period, reflecting a positive trajectory in its financial performance.
The bank's financial standings in the same period reveal a total paid-up capital of Rs. 34.12 Arba, accompanied by reserves amounting to Rs. 25.89 Arba. However, the retained earnings stood at a negative Rs 85.23 Crores.
Tha bank total deposits reached Rs 3.61 Kharba, while loans and advances to customers amounted to Rs 3.04 Kharba in the first quarter. Notably, the bank experienced a significant increase of 95.40% in Net Interest Income, reaching Rs. 4.16 Arba. However, the bank reported personnel expenses of Rs. 96.14 Crores and impairment charges of Rs. 64.06 Crores.
For the first quarter, the bank's annualized EPS stood at Rs 17.84, and the net worth per share was recorded at Rs 173.37 while the NPL spiked up to 4.83%. However, the bank has reported a negative distributable profit of Rs. 85.32 Crores.
Major Highlights:
* Figures are of Immediate Previous Year Quarter Ending
| Particulars (In Rs '000) | Nepal Investment Mega Bank Limited | ||
|---|---|---|---|
| Q1 2080/81 | Q1 2079/80 | Difference | |
| Paid Up Capital | 34,128,595.00 | 34,128,595.00* | 0.00% |
| Share Premium | 0.00 | 0.00 | 0.00% |
| Retained Earnings | -853,284.00 | 158,338.00* | -638.90% |
| Reserves | 25,893,823.00 | 23,894,546.00* | 8.37% |
| Deposits | 361,197,718.00 | 354,414,420.00* | 1.91% |
| Loans & Advances | 304,240,470.00 | 303,655,955.00* | 0.19% |
| Net Interest Income | 4,161,041.00 | 2,129,531.00 | 95.40% |
| Personnel Expenses | 961,405.00 | 496,788.00 | 93.52% |
| Impairment Charges | 640,675.00 | 281,686.00 | 127.44% |
| Operating Profit | 2,605,447.00 | 1,629,397.00 | 59.90% |
| Net Profit | 1,522,299.00 | 1,140,597.00 | 33.47% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | -853,284.00 | 1,802,987.00 | -147.33% |
| Capital Adequacy (%) | 13.54 | 15.44 | -12.31% |
| Cost of Fund (%) | 7.85 | 7.68 | 2.21% |
| NPL (%) | 4.83 | 1.57 | 207.64% |
| Annualized EPS (In Rs.) | 17.84 | 13.37 | 33.47% |
| Net Worth per Share (In Rs.) | 173.37 | 170.48 | 1.70% |
| Qtr end PE Ratio (times) | 9.81 | ||
| Qtr End Market Price | 175 | - | |
