Nepal Investment Mega Bank Sees 3.82% Drop in Net Profit for Q1 FY 2081/82, Reports EPS of Rs 17.16
Wed, Oct 23, 2024 6:12 AM on Financial Analysis, Company Analysis, Latest,
Nepal Investment Mega Bank Limited (NIMB) has reported a 3.82% decline in net profit for the first quarter of FY 2081/82, totaling Rs 1.46 Arba.
The bank's total paid-up capital is Rs 34.12 Arba, with reserves of Rs 31.29 Arba, though it recorded negative retained earnings of Rs 2.51 Crores.
Despite total deposits reaching Rs 4.33 Kharba and loans and advances amounting to Rs 3.24 Kharba, the bank's Net Interest Income dropped by 6.83% to Rs 3.87 Arba. Personnel expenses stood at Rs 99.65 Crores, while impairment charges saw a sharp rise of 52.21%, totaling Rs 97.51 Arba.
Key financial metrics for the quarter include an annualized Earnings Per Share (EPS) of Rs 17.16 and a net worth per share of Rs 184.33. The Non-Performing Loans (NPL) ratio fell to 5.20%, but the bank faces a negative distributable profit of Rs 2.51 Arba.
* Figures are of Immediate Previous Year Quarter Ending
Major Highlights:
| Particulars (In Rs '000) | Nepal Investment Mega Bank | ||
|---|---|---|---|
| Q1 2081/82 | Q1 2080/81 | Difference | |
| Paid Up Capital | 34,128,595.00 | 34,128,595.00* | 0.00% |
| Retained Earnings | -2,510,526.00 | -3,430,974.00* | - |
| Reserves | 31,291,490.00 | 30,568,127.00* | 2.37% |
| Deposits | 433,327,967.00 | 403,416,956.00* | 7.41% |
| Borrowings | 5,368,000.00 | 5,334,000.00* | 0.64% |
| Loan and advances to Customers | 324,445,760.00 | 307,525,649.00* | 5.50% |
| Net Interest Income | 3,876,765.00 | 4,161,041.00 | -6.83% |
| Personnel Expenses | 996,505.00 | 961,405.00 | 3.65% |
| Impairment Charges | 975,163.00 | 640,675.00 | 52.21% |
| Operating Profit | 2,093,318.00 | 2,181,626.00 | -4.05% |
| Net Profit | 1,464,075.00 | 1,522,299.00 | -3.82% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | -2,510,526.00 | -853,284.00 | - |
| Capital Adequacy (%) | 13.37 | 13.54 | -1.26% |
| NPL% | 5.84 | 4.83 | 20.91% |
| Cost of Fund (%) | 5.20 | 7.85 | -33.76% |
| EPS (In Rs.) | 17.16 | 17.84 | -3.82% |
| Net Worth per Share (In Rs.) | 184.33 | 179.51 | 2.68% |
| Qtr end PE Ratio (times) | 14.80 | ||
| Qtr End Market Price | 254 | - | - |
