Net Profit of Prime Commercial Bank Increases

Nov 16, 2018 Merolagani

Prime Commercial Bank (PCBL) has earned a net profit of Rs 581.9 million in the first quarter of the current FY compared to Rs 399.9 million of the corresponding period of the last FY.

In the review period, the company increased its paid-up capital to Rs 8.03 billion from Rs 6.32 billion while its EPS increased to Rs 28.97 from Rs 21.68.

As per regulatory adjustment of Rs 153.6 million in its net profit as per NRB requirement, the bank has a distributable profit of Rs 428.2 million.

The bank also increased its net interest income to Rs 970.2 million from Rs 570.1 million. The bank collected a deposit of Rs 76.33 billion and extended loan of Rs 72.33 billion.

The bank has a reserve fund of Rs 3.97 billion, net worth per share of Rs 149.49 and bad debt ratio of 1.41 percent.

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