Civil Bank earned Rs. 58.7 million net profit while NIC Asia earned 157 million

Kathmandu November 22- with the paid up capital of Rs. 2 billion 880 million, Civil Bank has succeeded to earn Rs. 58.7 million net profit in the first quarter of current fiscal year. In the corresponding period of last fiscal year, bank earned Rs. 9.6 million net profit.

Bank reserve decreased by 9.05% to Rs 472.1 million which was Rs. 519.1 million last FY. Deposit collection has increased by 14.11% to Rs. 27 billion 370.6 million from 23 billion 975.4 million. Lending of the bank has increased by 14.55% to Rs. 23 billion 493.1 million from Rs. 20 billion 509.7 million last FY. Similarly, net interest income has decreased by 8.60% to Rs.  145.9 million.  Interest income and interest expenses have increased by 9.45% and 18.47% respectively. Operating loss is of Rs. 30.7 million while provision of Rs. 130 million has been kept and Rs. 120 million of bad debts has been recovered in the period of first quarter.

According to the financial report of the first quarter, EPS of the bank is 8.01, P/E ratio is 34.22 times, net worth per share is Rs. 116.35 and liquidity ratio is 23.37%. Bad debt of the bank has increased by 0.32% to 2.54% and Risky assets have decreased by 0.39% to 12.93%.

Likewise, NIC Asia managed to add up 2% more profit in the first quarter of current FY than the corresponding period of last FY. It earned Rs. 157.3 million net profit in the first quarter of current fiscal year while it earned only Rs. 154.2 million net profit last year. NIC Asia has the paid up capital of Rs. 2 billion 650 million.

Bank has increased its reserve by 29.75% to Rs. 3 billion 74.6 million from Rs. 2 billion 369 million last FY. Collection of deposit has also rised by 14.85% to Rs. 53 billion 848.1 million from Rs. 46 billion 884.9 million last FY. Loan and advance has boosted by 18.09% to Rs. 44 billion 244 million from Rs. 37 billion 464.7 million last year. Whereas, net interest income has decreased by 8.49% to Rs. 373.1 million. Interest income and interest expenses have increased by 5.49% and 15.59% respectively. Operating profit has decreased by 17.28% to Rs. 182.3 million. Provision of the bank amounted Rs. 920 million and bad debt of Rs. 70 million has been recovered during this period.

According to the first quarter financial report, EPS of the bank stands at Rs. 23.68, P/E ratio is 38.59 times, net worth per share is Rs. 215.66 and bank liquidity is 27.01%. Bad debt of the bank has decreased by 0.79% to 1.83% and Risky assets have decreased by 1.32% to 12.54%.