What Fueled The Massive Increment Of Operating Profit Of Century Commercial Bank In Q3?
Wed, Apr 20, 2022 5:43 AM on Company Analysis, Latest,
Century Commercial Bank Limited (CCBL) has published its third-quarter report for the FY 2078/2079 with a massive increment in Net Profit by 183.59%. The bank's net profit has increased from Rs. 35.81 crores in the third quarter of FY 2077/2078 to Rs. 1.01 Arba in the third quarter of FY 2078/2079.
The massive increment in Net Profit is seen due to the changes in Impairments/reversal in this quarter. The company reported write back of 27 crores in this quarter which fueled the growth in operating profit while the company had a provision of 75 crores in the same quarter of the corresponding year.
In the same quarter, the bank has Rs 51.22 crores as distributable profit after PL Appropriation and Regulatory Adjustments.
The bank’s deposits from customers decreased by 3.18% to Rs. 90.52 Arba (compared to the immediate previous year ending) whereas loans and advances to customers increased by 11.46% to Rs. 87.02 Arba (compared to the immediate previous year ending) till the third quarter. The bank's Net Interest Income (core business income) has increased by 11.66% to Rs. 2.14 Arba compared to the corresponding quarter of the previous year.
The bank’s paid-up capital stands at Rs. 9.55 Arba with Rs. 2.30 Arba in Reserve and surplus. The Non-performing loan (NPL) stood at 1.60%.
The annualized earnings per share (EPS) of the Bank stood at Rs. 14.17 and Net worth per share stood at Rs. 124.16. The company traded at a P/E multiple of 15.17 times.
Major Highlights:
|
Particulars |
Century Commercial Bank Limited |
||
|---|---|---|---|
|
Q3, 2078/2079 |
Q3, 2077/2078 |
Difference |
|
|
Share Capital |
9,553,909.00 |
9,034,430.00 |
5.75% |
|
Retained earnings |
517,264.00 |
551,796.00 |
-6.26% |
|
Reserves and Surplus |
1,790,891.00 |
1,324,664.00 |
35.20% |
|
Loans and Advances |
87,022,777.00 |
78,078,290.00 |
11.46% |
|
Deposit from Customers |
90,520,047.00 |
93,496,628.00 |
-3.18% |
|
Net Interest Income |
2,141,608.00 |
1,917,907.00 |
11.66% |
|
Impairment charge/(Reversal) for loans |
-278,354.00 |
758,861.00 |
- |
|
Operating Profit |
1,479,178.00 |
472,943.00 |
212.76% |
|
Net Profit |
1,015,683.00 |
358,150.00 |
183.59% |
|
Capital Adequacy Ratio (CAR) |
11.70% |
12.33% |
- |
|
Non-performing Loan (%) |
1.60% |
2.96% |
- |
|
Cost of Funds (%) |
7.49% |
5.72% |
- |
|
Base Rate (%) |
9.63% |
7.77% |
- |
|
CD Ratio (as per NRB Directives) |
93.57% |
76.25% |
- |
|
Annualized EPS (Rs.) |
14.17 |
5.29 |
- |
|
Net Worth per share (Rs.) |
124.16 |
120.77 |
- |
|
Price to Earnings (Times) |
15.17 |
- |
- |
|
Price to Book (Times) |
1.73 |
- |
- |
