Nepal Bank Limited (NBL) has reported a 41.46% growth in net profit for the first quarter of FY 2083/84, reaching Rs. 83.22 Crores compared to Rs. 58.83 Crores in the corresponding quarter of the previous fiscal year. The bank's paid-up capital remained unchanged at Rs. 14.69 Arba, while retained earnings increased by 18.25% to Rs. 27.53 Crores and reserves grew by 1.34% to Rs. 25.59 Arba.
During the quarter, total deposits increased by 4.56% to Rs. 4.34 Kharba, while loans and advances grew by 2.66% to Rs. 2.50 Kharba. Net Interest Income declined by 3.11% to Rs. 2.49 Arba. Personnel expenses increased by 16.12% to Rs. 1.24 Arba, while impairment charges declined by 14.87% to Rs. 54.65 Crores. Despite the decline in net interest income, operating profit increased by 8.49% to Rs. 99.50 Crores.
Nepal Bank's distributable profit after profit/loss appropriation and regulatory adjustments stood at Rs. 27.53 Crores, compared to a negative distributable profit of Rs. 57.02 Crores in the corresponding quarter. The bank's capital adequacy ratio improved to 11.23% from 10.10%, while the Non-Performing Loan (NPL) ratio declined to 4.61% from 5.49%. The cost of funds stood at 61.63%, compared to 69.42% in the corresponding quarter.
The bank's annualized Earnings Per Share (EPS) increased by 41.46% to Rs. 22.65 from Rs. 16.01, while net worth per share increased by 1.80% to Rs. 292.89 from Rs. 287.70. Nepal Bank's quarter-end PE ratio stood at 13.42 times, while its quarter-end market price was Rs. 304.10 per share.
* Figures are of Immediate Previous Year Quarter Ending
