Prime Commercial Bank Earns Rs 1.54 Bn in Net Profit

May 09, 2019 Merolagani

Prime Commercial Bank (PCBL) has earned a net profit of Rs 1.54 billion in the third quarter of the current FY compared to Rs 1.17 billion of the corresponding period of the last FY. The net profit increased by 31.36 percent in the review period.

As per the financial report published as per NFRS format, the bank earned a distributable profit of Rs 1.007 billion after adjusting various provisions.

Presently, the bank has a paid-up capital of Rs 8.03 billion. The bank is yet to capitalize 16 percent bonus share proposed by the bank.

In the review period, the bank decreased its deposit collection by 5.48 percent to Rs 68.65 billion while it increased its loan extension by 4 percent to Rs 69.86 billion.

During the period, the bank earned net interest income of Rs 1.83 billion. in the period, the bank logged EPS of Rs 25.79. After the capitalization of the bonus share, the EPS will decline to Rs 22.15.

Similarly, the bank increased its reserve fund to Rs 2.33 billion from earlier Rs 1.83 billion.

The bank has base interest rate of 10.20 and cost of fund of 8.29 percent. The bank has bad debt of 1.29 percent, net worth per share of 158.48 and CD ratio of 78.43 percent.

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