NMB Bank Limited has reported a notable 27.11% growth in net profit for the first quarter of FY 2083/84, reaching Rs 1.16 Arba compared to Rs 91.60 Crores in the corresponding quarter of the previous fiscal year. The bank's paid-up capital increased by 21.33% to Rs 22.29 Arba, while retained earnings rose by 30.98% to Rs 2.32 Arba and reserves increased by 4.11% to Rs 14.46 Arba.
During the quarter, total deposits grew by 2.18% to Rs 3.22 Kharba, while loans and advances increased by 3.54% to Rs 2.58 Kharba. Net Interest Income rose by 4.19% to Rs 2.59 Arba. Personnel expenses increased marginally by 2.52% to Rs 83.70 Crores, while impairment charges declined sharply by 29.66% to Rs 50.22 Crores. Operating profit surged by 26.17% to Rs 1.89 Arba.
The bank's distributable profit increased by 19.34% to Rs 2.32 Arba after profit/loss appropriation and regulatory adjustments. Its capital adequacy ratio stood at 12.53%, while the Non-Performing Loan (NPL) ratio increased to 4.92% from 4.58% in the corresponding period. The cost of funds declined significantly to 3.37% from 4.05%.
NMB Bank's Earnings Per Share (EPS) stood at Rs 19.02, compared to Rs 32.63 in the corresponding quarter, while net worth per share increased by 10.78% to Rs 187.03. The bank's quarter-end PE ratio stood at 14.32 times, with its quarter-end market price recorded at Rs 272.30 per share.
* Figures are of Immediate Previous Year Quarter Ending
