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Global IME Bank earns Rs 3.72 arba till third quarter; Highest in the banking industry

Global IME Bank Limited (GBIME) has published its third-quarter report for the FY 2078/2079 with a rise in net profit by 4.13%.

The bank’s profit has increased from Rs 3.57 Arba in the third quarter of the fiscal year 2077/2078 to Rs 3.72 Arba in the third quarter of the fiscal year 2078/2079. In the same quarter, the bank has Rs 1.91 Arba as distributable profit after PL Appropriation and Regulatory Adjustments.

The bank’s deposits from customers increased by just 0.24% to Rs. 2.69 Kharba (compared to the immediate previous year ending) whereas loans and advances to customers increased by 13.80% to Rs. 2.60 kharba (compared to the immediate previous year ending) till the third quarter. The bank’s Net Interest Income (core business income) has increased by 8.29% to Rs. 7.43 Arba compared to the corresponding quarter of the previous year.

The bank’s paid-up capital stands at Rs. 23.79 Arba with Rs 11.76 Arba as its reserve and surplus.

The Non-Performing Loan (NPL) came down at 1.45% from 1.61%.

The annualized EPS of the bank stands at Rs 20.88. The net worth per share stands at Rs. 149.45. The company traded at a P/E ratio of 14.35 times.

Financial Highlights:

* Figure is of Immediate Previous Year Ending

Particulars (In Rs ‘000″) Global IME Bank Limited
Q3 2078/79 Q3 2077/78 Difference
Share Capital 23,795,753 21,632,503 10.00%
Share Premium 0 0
Retained Earnings 1,919,114 2,990,204 -35.82%
Reserves 9,847,448 8,097,710 21.61%
Deposits from Customers 269,082,859 268,433,792 0.24%
Loans & Advances to customers 260,209,629 228,651,427 13.80%
Net Interest Income 7,439,744 6,870,212 8.29%
Impairment Charge/(Reversal) 435,640 325,827 33.70%
Personnel Expenses 2,543,399 2,375,027 7.09%
Operating Profit 5,175,667 5,038,285 2.73%
Profit/(Loss) for the Year 3,726,212 3,578,269 4.13%
Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments 1,919,114
Capital Adequacy Ratio (CAR) 12.65 13.22 -4.31%
NPL 1.45 1.61 -9.94%
Credit to Deposit Ratio (CD Ratio) 93.07 76.54 21.60%
Cost of Fund (%) 6.99 4.64 50.65%
Interest Rate Spread (%) 3.52 4.17 -15.59%
Base Rate (%) 8.95 6.4 39.84%
EPS (In Rs.) 20.88 22.05 -5.33%
Net Worth per Share (In Rs.) 149.45 151.26 -1.20%
Qtr End PE Ratio (times) 14.35
Qtr End Market Price 299.7

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