Prime Commercial Bank Limited (PCBL) has reported a 5.62% decline in net profit for the first quarter of FY 2083/84, with profit standing at Rs 1.18 Arba compared to Rs 1.26 Arba in the corresponding quarter of the previous fiscal year. The bank's paid-up capital remains unchanged at Rs 20.95 Arba, while reserves increased by 6.88% to Rs 14.93 Arba and retained earnings rose by 5.68% to Rs 2.01 Arba.
During the quarter, the bank's deposits declined marginally by 0.75% to Rs 2.76 Kharba, while loans and advances increased by 3.90% to Rs 2.35 Kharba. Net Interest Income grew by 8.24% to Rs 2.61 Arba. Personnel expenses increased by 12.97% to Rs 76.36 Crores, while impairment charges rose by 28.30% to Rs 61.71 Crores. Operating profit declined by 5.48% to Rs 1.96 Arba.
The bank's annualized Earnings Per Share (EPS) stood at Rs 22.67, down from Rs 24.02 in the corresponding period, while net worth per share increased by 2.90% to Rs 180.90. The bank's Non-Performing Loan (NPL) ratio increased to 7.15% from 5.86%, while the cost of funds declined to 3.81% from 4.79%. Capital adequacy ratio stood at 12.42%.
Prime Commercial Bank reported a distributable profit of Rs 2.05 Arba after profit/loss appropriation and regulatory adjustments. The bank's quarter-end price-to-earnings (PE) ratio stood at 11.98 times, while its quarter-end market price was Rs 271.70 per share.
* Figures are of Immediate Previous Year Quarter Ending
