Meanwhile, its distributable profit also decreased by 53.09 percent in the review period. The bank has distributable profit of Rs 652.3 million. In the review period of the previous FY, the distributable profit was Rs 1.39 billion.
Decrease in net interest income and operating profit along with increase in impairment charges can be attributed to the decrease in the net profit. The net interest income of the bank declined by Rs 413.3 million to Rs 5.76 billion during the period. Similarly, its operating profit decreased by Rs 497.2 million to Rs 3.63 billion in the review period.
In the review period, the bank collected deposits of Rs 166 billion and extended loan of Rs 135 billion. The bank with paid-up capital of Rs 14.24 billion has a reserve fund of Rs 11.41 billion. The retained earnings of the bank also decreased from Rs 2.06 billion to Rs 1.62 billion.
Similarly, its EPS has decreased by Rs 8.36 to Rs 18.07 and net worth per share to Rs 192 from Rs 199. The bank has P/E ratio of 24 times.
In the review period, the non-performing loan of the bank increased to 2.91 percent from 2.78 percent pulling its impairment charge from Rs 283.5 million to Rs 1.88 billion.
The bank’s capital fund ratio is at 13.23 percent, cost of fund at 5.85 percent, base rate is at 7.51 percent and spread rate at 3.99 percent.
