Nabil Bank Limited has reported a 45.43% growth in net profit for the first quarter of FY 2083/84, reaching Rs. 2.56 Arba compared to Rs. 1.76 Arba in the corresponding quarter of the previous fiscal year. The bank's paid-up capital increased by 4.22% to Rs. 33.41 Arba, including Rs. 5 Arba in 8% preference shares. Reserves increased by 3.16% to Rs. 35.78 Arba, while retained earnings declined by 56.19% to Rs. 2.26 Arba.
During the quarter, total deposits increased by 4.59% to Rs. 6.19 Kharba, while loans and advances grew by 3.41% to Rs. 4.76 Kharba. Net Interest Income rose by 21.42% to Rs. 4.74 Arba. Personnel expenses increased by 13.67% to Rs. 1.68 Arba, while impairment charges declined sharply by 74.66% to Rs. 16.40 Crores. Operating profit subsequently surged by 42.33% to Rs. 3.67 Arba.
Nabil Bank's distributable profit after profit/loss appropriation and regulatory adjustments stood at Rs. 2.26 Arba, compared to Rs. 4.72 Arba in the corresponding quarter. The capital adequacy ratio stood at 11.67%, while the Non-Performing Loan (NPL) ratio improved to 4.06% from 4.31%. The cost of funds declined significantly to 2.92% from 4.13%.
The bank's annualized Earnings Per Share (EPS) stood at Rs. 30.34, compared to Rs. 32.19 in the corresponding quarter, while net worth per share increased by 4.28% to Rs. 233.90 from Rs. 224.30. Nabil Bank's quarter-end PE ratio stood at 18.03 times, while its quarter-end market price was Rs. 547 per share.
* Figures are of Immediate Previous Year Quarter Ending
