Global IME Bank Logs 2nd Highest Profit

Apr 19, 2024 12:07 PM Merolagani

Global IME Bank (GBIME) has earned the second highest net profit in the third quarter of the current FY.

The bank earned Rs 3.30 billion in net profit during the period. The net profit decreased by 24.13 percent compared to Rs 4.35 billion of the corresponding period of the last FY.

Although the bank raised its net interest income, increases in impairment charge pulled down its net profit.

In the review period, the bank increased net interest income by 10.49 percent and net fee and commission income by 35.59 percent. Similarly, its total operating income increased by 13.74 percent.

Similalry, its non-performing loans increased to 4.74 percent from 3.96 percent which raised its impairment charges to Rs 5.26 billion.

Along with its net profit, its EPS also declined by Rs 4.88 to Rs 12.20. The bank logged P/E ratio of 14.91 times and net worth per share of Rs 160.92.

The company with Rs 36.12 billion in paid-up capital has a reserve fund of Rs 22 billion. The bank collected deposits of Rs 459 billion and extended loans of Rs 366 billion.



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