Prime Commercial Bank Sees 11.75% Growth in Q1 Net Profit, Annualized EPS at Rs 26.53, Distributable Profit at Rs 2.73 Arba
Wed, Oct 23, 2024 7:03 AM on Financial Analysis, Company Analysis, Latest,
Prime Commercial Bank Limited (PCBL) has reported a notable 11.75% rise in net profit for the first quarter of FY 2081/82, reaching Rs 1.28 Arba. The bank's total paid-up capital stands at Rs 19.4 Arba, with reserves of Rs 10.09 Arba and retained earnings of Rs 2.73 Arba.
During the quarter, total deposits grew by 5% to Rs 2.21 Kharba, and loans and advances to customers amounted to Rs 1.88 Kharba. Net Interest Income also saw a 16.67% increase, totaling Rs 2.33 Arba. Personnel expenses were Rs 65.99 Crores, while impairment charges sharply rose by 89.46% to Rs 41.04 Crores.
The bank's key financial indicators include an annualized Earnings Per Share (EPS) of Rs 26.53 and a net worth per share of Rs 166.11. Non-performing loans (NPL) increased to 4.86%, and the bank reported a distributable profit of Rs 2.73 Arba.
* Figures are of Immediate Previous Year Quarter Ending
Major Highlights:
| Particulars (In Rs '000) | Prime Commercial Bank Limited | ||
|---|---|---|---|
| Q1 2081/82 | Q1 2080/81 | Difference | |
| Paid Up Capital | 19,402,575.72 | 19,402,575.72* | 0.00% |
| Retained Earnings | 2,730,919.17 | 1,199,673.96* | 127.64% |
| Reserves | 10,095,936.79 | 10,327,056.21* | -2.24% |
| Deposits | 221,813,662.79 | 211,244,583.57* | 5.00% |
| Borrowings | 2,690,000.00 | 2,674,000.00* | 0.60% |
| Loan and advances to Customers | 188,637,404.96 | 181,514,113.72 | 3.92% |
| Net Interest Income | 2,331,862.54 | 1,998,655.78 | 16.67% |
| Personnel Expenses | 659,909.37 | 557,840.37 | 18.30% |
| Impairment Charges | 410,455.98 | 216,648.67 | 89.46% |
| Operating Profit | 1,828,318.30 | 1,644,983.77 | 11.15% |
| Net Profit | 1,286,787.20 | 1,151,522.40 | 11.75% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | 2,730,919.17 | 628,655.30 | 334.41% |
| Capital Adequacy (%) | 12.47 | 12.28 | 1.55% |
| NPL% | 4.86 | 3.67 | 32.43% |
| Cost of Fund (%) | 6.36 | 8.77 | -27.48% |
| Annualized EPS (In Rs.) | 26.53 | 23.74 | 11.75% |
| Net Worth per Share (In Rs.) | 166.11 | 159.41 | 4.20% |
| Qtr end PE Ratio (times) | 11.20 | ||
| Qtr End Market Price | 297.1 | - | - |
