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NIC Asia Bank (NICA) has published its third-quarter report for the FY 2078/2079 with an increment in Net Profit by 19.96%. The bank’s net profit has increased from Rs. 3 Arba in the third quarter of FY 2077/2078 to Rs. 3.6 Arba in the third quarter of FY 2078/2079.
In the same quarter, the bank has Rs 2.98 Arba as distributable profit after PL Appropriation and Regulatory Adjustments.
The bank’s deposits from customers increased by 3.19% to Rs. 2.96 Kharba (compared to the immediate previous year ending) whereas loans and advances to customers increased by 3.58% to Rs. 2.57 Kharba (compared to the immediate previous year ending) till the third quarter. The bank’s Net Interest Income (core business income) has increased by 25.42% to Rs. 8.2 Arba compared to the corresponding quarter of the previous year.
The bank’s paid-up capital stands at Rs. 11.56 Aarba with Rs. 12.73 Arba in Reserve and surplus. The annualized earnings per share (EPS) of the Bank stood at Rs. 41.56 and Net worth per share stood at Rs.210.11. The company traded at a P/E multiple of 17.36 times.
Financial Highlights:
* Q3 2077/78 figures are of immediate previous year ending
| Particulars (In Rs) | NIC ASIA | ||
|---|---|---|---|
| Q3 2078/79 | Q3 2077/78 | Difference | |
| Share Capital | 11,564,005,366 | 11,564,005,366 | 0.00% |
| Share Premium | 0 | 0 | |
| Retained Earnings | 2,984,119,499 | 1,599,552,618 | 86.56% |
| Reserves | 9,749,355,511 | 7,740,061,474 | 25.96% |
| Deposits from Customers | 296,176,168,112 | 287,024,798,908 | 3.19% |
| Loans & Advances to Customers | 257,679,192,365 | 248,770,354,077 | 3.58% |
| Net Interest Income | 8,258,443,296 | 6,584,392,349 | 25.42% |
| Impairment Charge/(Reversal) | 501,905,598 | 252,584,101 | 98.71% |
| Personnel Expenses | 2,937,530,923 | 2,287,444,974 | 28.42% |
| Operating Profit | 5,113,400,151 | 4,395,654,146 | 16.33% |
| Profit/(Loss) for the Year | 3,604,598,214 | 3,004,815,638 | 19.96% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | 1,384,566,881 | ||
| Capital Adequacy Ratio (CAR) | 13.11 | 11.44 | 14.60% |
| NPL | 0.51 | 0.47 | 8.51% |
| Credit to Deposit Ratio (CD Ratio) | 86.18 | 84.21 | 2.34% |
| Cost of Fund (%) | 7.24 | 5.03 | 43.94% |
| Interest Rate Spread (%) | 3.16 | 2.82 | 12.06% |
| Base Rate (%) | 9.39 | 6.77 | 38.70% |
| EPS (In Rs.) | 41.56 | 34.65 | 19.96% |
| Net Worth per Share (In Rs.) | 210.11 | 180.76 | 16.24% |
| Qtr End PE Ratio (times) | 17.36 | – | – |
| Qtr End Market Price | 721.4 | – | – |
