Century Commercial Bank Increases Net Profit by 104.75%

Nov 15, 2018 Merolagani

Century Commercial Bank (CCBL) has earned a net profit of Rs 274 million in the first quarter of the current FY compared to Rs 133.8 million of the corresponding period of the last FY. The net profit increased by 104.75 percent in the review period compared to the last FY.

As per the report published as per NFRS format, the bank has a distributable profit of Rs 200 million after regulatory adjustment of 73.9 million.

During the period, the bank collected deposit of Rs 62.37 billion and extended loan of Rs 57.54 billion.

Similarly, it increased its net interest income by 72.19 percent to Rs 801.5 million from earlier Rs 465.4 million.

The bank that acquired Innovative Development Bank, Alpine Development Bank, Sagarmatha Finance has decreased its bad debt to 0.82 percent from earlier 1.70 percent.

In the review period, the bank also improved its EPS to Rs 13.59 from earlier 9.80. The bank has net worth per share of Rs 117.15 and P/E ratio of 19.23 times.

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