Citizens Bank International Increases Net Profit by 47.66%

Oct 23, 2020 12:05 PM Merolagani

Citizens Bank International (CZBIL) has earned a net profit of Rs 515.5 million in the first quarter of the current FY compared to the corresponding period of the last FY. The bank increased its net profit by 47.66 percent compared to the corresponding period of the last FY.

The increase in net profit can be attributed to impairment reversal and increase in net interest income and other income.

During the period, the bank increased its net interest income by Rs 130.8 million to Rs 839.1 million. Similarly, its operating profit increased by Rs 243.8 million to Rs 733 million. The impairment charge which was Rs 33.8 million in the last FY reversed by Rs 25.1 million in the current FY. Moreover, the bank also managed to increase net fee and commission income and net trading income.

With the net profit, the bank also increased its EPS. The EPS which was Rs 16.20 in the last FY increased by Rs 6.49 to Rs 22.69 in the review period. The bank has P/E ratio of 9.48 times and net worth per share of Rs 153.40.

The bank that has paid-up capital of Rs 9.08 billion from has reserve fund to Rs 3.90 billion and share premium of Rs 943.7 million.

In the review period, the bank collected  deposit of Rs 97.94 billion and loan extension of Rs 82.64 billion. The bank has distributable profit of Rs 9.2 million.

Meanwhile, the bad debt of the bank increased to 1.43 percent from 0.98 percent. The bank has Capital Fund to RWA of 14.38 percent, cost of fund of 6.79 percent, CCD ratio of 73.50, base rate of 8.81 and spread rate of 4.40.


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