Century Commercial Bank Earns Half Billion in Net Profit

Feb 08, 2019 Merolagani

Century Commercial Bank (CCBL) has earned a net profit of Rs 518.1 million in the second quarter of the current FY. Similarly, it maintained EPS of Rs 12.85 in the review period.

The bank that has Rs 8.06 billion in paid-up capital increased the net profit by Rs 151.6 million and EPS by Rs 3.30. In the corresponding period of the last FY, the bank earned a net profit of Rs 366.3 million and had maintained EPS of Rs 9.55.

As per the financial report published under NFRS format, the bank earned a distributable profit of Rs 443.5 million compared to Rs 325.1 million of the review period of the last FY. The bank maintained regulatory adjustment of Rs 74.6 million as per NRB directive.

In the review period, the reserve fund of the bank decreased by 9 percent to Rs 1.64 billion compared to the last FY. The bank has capital adequacy ratio of 14.69 and net worth per share of Rs 120.34.

Similarly, it has cost of fund of 8.89 percent, base interest rate of 11.50 and P/E ratio of 13.15 times.

In the review period, the bank collected deposit of Rs 64.12 billion and extended loan of Rs 58.89 billion. The deposit collection and loan extension increased by 22.90 percent and 27.03 percent in the review period.

The bank earned a net interest income of Rs 1.33 billion and operating profit of Rs 740.2 million.

During the period, the bad debt of the bank decreased to 0.84 percent compared to 0.99 percent of the review period of the last FY.

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