Prime  Bank Logs 13.38% Growth in Net Profit

Nov 12, 2019 10:48 AM Merolagani

Prime Commercial Bank (PCBL) has increased its net profit by 13.38 percent to Rs 659.7 million in the first quarter of the current FY compared the corresponding period of the last FY.  

As per the financial report published as per NFRS format, the bank has distributable profit of Rs 228.8 million during the period. The bank with Rs 9.68 billion in paid-up capital has EPS of Rs 27.24.

The bank maintained reserve fund of Rs 3.20 billion, shareholders fund of Rs 1.93 billion and share premium of Rs 645,000. It logged net worth per share of Rs 153.0.

In the review period, the bank increased its deposit collection by 2 percent to Rs 78.59 billion and loan extension by 9 percent to Rs 79.13 billion.

During the period, the bank earned Rs 1.06 billion in net interest income.

Similarly, the bank has non-performing loan of 1.14 percent,  capital fund ratio of 12.75 percent, CD ratio of 77.86 percent, cost of fund of 7.67 percent, base interest rate of 9.67 percent and P/E ratio of 9.62 times.

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