Century Commercial Bank Limited issuing 25% right shares (4:1)

ICRA Nepal has assigned an “[ICRANP] IPO Grade 4+”, indicating below-average fundamentals to the proposed rights issue amounting NPR 530 million of Century Commercial Bank Limited (CCBL).

The process to issue right share of CCBL is on review in SEBON.

CCBL will be issuing right shares in the ratio 4:1. The paid up capital of the bank stands at 2.12 arba. After the issuance of 25 percent, the paid up capital will stand at Rs 2.65 arba.

As per unaudited report, CCBL has posted an impressive profit rise of 196.69 percent in the  fourth quarter of the last fiscal year 2071/72. It earned Rs 25.79 crore of net profit in the last fiscal year, up from Rs 8.69 crore in the corresponding period of the previous fiscal year 2070/71.

ICRA Nepal assigns IPO grading on a scale of IPO Grade 1 through IPO Grade 5, with Grade 1 indicating strong fundamentals and Grade 5 indicating poor fundamentals. -SSN

Century Commercial Bank has Anuj Mani Timilsina as CEO

Anuj Mani Timilsina has been appointed as the chief executive officer of Century Commercial Bank. The 172nd board of directors’ meeting decided to name Timilsina as the new CEO. Timilsina has been the deputy CEO of the bank for the last one and half years. He has 18 years’ experience in various other commercial banks. (PR)- Ktmpost

Century Commercial Bank - Fundamental Analysis of FY 2070/71

सेन्चुरी कमर्शियल बैंक लिमिटेडको विश्लेषण
पूँजी, जगेडा, निक्षेप तथा लगानी
चुक्ता पूँजी २ अरब, संचित कोष २३ करोड ७२ लाख २३ हजार, सापटी ६७ करोड ६ लाख, निक्षेप १८ अरब ३९ करोड ३७ लाख २३ हजार, कर्जा लगानी १५ अरब ४ करोड ५४ लाख १२ हजार र अन्य लगानी ६३ करोड ५ लाख १ हजार रहेको छ /

Century Commercial Bank IPO allotted @ 7.95 & 3.09%; View Online Results

The Initial Public Offering (IPO) worth Rs 92 crore issued by Century Commercial Bank Limited has been allotted today at the office of the commercial bank at Putalisadak in Kathmandu.

The IPO was allotted at 10:00 AM at 7.90percent to retail investors who had applied up to Rs 50,000 and at  just 3.09 percent to big investors.

This means that the smaller investors have benefitted more from the allotment as has been the policy of the regulator and the key stakeholders in the market.

The allotment model was designed in such way also because there were more applicants who applied for more than Rs 50,000.

Century Commercial Bank IPO allotment: 7.9% to small group, 3.09% to big ones; upto Rs 12k in lottery

The Initial Public Offering (IPO) worth Rs 92 crore issued by Century Commercial Bank Limited will be allotted on March 3 at the office of the commercial bank in Kathmandu, according to highly placed sources privy of the development.

The reliable sources also informed that the IPO allotment model is such that the IPO will be allotted at an impressive 7.90percent to retail investors who had applied up to Rs 50,00 and at  just 3.09 percent to big investors.

Century Bank IPO allotment likely by March 3 or 4; refund expected by March 9

The Initial Public Offering (IPO) worth Rs 92 crore issued by Century Commercial Bank Limited is expected to be allotted March 3 or 4, according to the issue manager.

“We are planning to allot the IPO by March 3 or 4, and distribute the allotment slips and refund the non-allottees most probably by March 9,” an official with Civil Capital Limited, the issue manager, told.

Century’s IPO was oversubscribed by more than 25 times.

Century Bank IPO oversubscribed by over 23 times

The Initial Public Offering (IPO) worth Rs 92 crore issued by Century Commercial Bank Limited is oversubscribed by more than 25 times as per the final emerging figure being compiled by the issue managers.

The latest updated figure of the collection of Century IPO stands at Rs 20 arba, 72 crore, 65 lakhs and 80 thousand” the official designated by the issue managers to compile the IPO application told ShareSansar today. “Though a few cheques might bounce here and there, we can safely say that the IPO is oversubscribed by around 23.03 times.”

At the closing day of the IPO, the issue managers were expecting to draw not more than Rs 16 arba.

The IPO, which was issued from January 9,  had closed on January 13.

Long serpentine queues could be seen in front of all the collection centers on the closing day of the IP0.

Century’s IPO was one of the most expected events in the stock market not just because of its sheer volume but also because it is the last IPO to be issued by any commercial bank of the country.

Nepal Rastra Bank has stopped issuing license to the commercial bank, and, on the contrary, has been directing the commercial banks and other BFIs to seek merger.

The offering was also special in that it was the largest IPO to be issued by any private bank in the country, second only to primary shares worth Rs 96 crore floated by Agriculture Development Bank Limited.

ICRA Nepal had assigned an ‘[ICRANP] IPO Grade 4+’ to Century Bank’s IPO, which is not at all bad by any standards.

Following the IPO, the commercial bank’s paid-up capital of Rs 1.08 billion will rise to Rs two billion, as per the regulatory requirement.

It may be noted that there was a huge response to the IPOs issued by three commercial banks — Civil Bank, Commerz and Trust Bank Nepal and Mega Bank—had issued their IPO over the last one year.

Civil Bank’s IPO was oversubscribed by seven times, Commerz and Trust’s IPO was oversubscribed by 11 times and Mega Bank’s IPO was oversubscribed by 22 times.- SSN

Century Commercial Bank IPO expected to be oversubscribed by 18 times

The Initial Public Offering (IPO) worth Rs 92 crore issued by Century Commercial Bank Limited is likely to oversubscribed by 18 times if the latest information being compiled by the issue managers is anything to go by.

“The updated figure for the first three days of the collection of Century IPO stands at Rs 7.38 arba,” the official designated by the issue managers to compile the IPO application told today. “Considering this trend, we are upgrading our estimate for the oversubscription to 18 times as we are most likely to collect not less than Rs 15 arba.”

Century Bank issues IPO worth Rs 92 crore today

Century Commercial Bank Limited has issued its Initial Public Offering (IPO) worth Rs 92 crore from today.

The IPO will close on January 13.

Century’s IPO is one of the most expected events in the stock market not just because of its sheer volume but also because it is the last IPO to be issued by any commercial bank of the country.

Nepal Rastra Bank has stopped issuing license to the commercial bank, and, on the contrary, has been directing the commercial banks and other BFIs to seek merger.

Century Bank to issue public IPO shares from Jan 9 to 13, OFFICIAL NOTICE

Century Commercial Bank is going to issue its Initial Public Offering (IPO) worth Rs 92 crore on January 9. The IPO will close on January 13. Century’s IPO is one of the most expected events in the stock market not just because of its sheer volume but also because it is the last IPO to be issued by any commercial bank of the country.

Nepal Rastra Bank has stopped issuing license to the commercial bank, and, on the contrary, has been directing the commercial banks and other BFIs to seek merger.

ICRA rates Century Commercial Bank’s IPO below-average

Nepal’s only credit rating agency — ICRA Nepal — has assigned Century Commercial Bank’s proposed Initial Public Offering a rating of below-average. The bank is offering ordinary shares worth Rs 920 million to public in near future.

IPO issue worth 3.97 arba & rights shares of 6.18 arba in the pipeline

Altogether 17 companies, including a commercial bank, have applied at the Securities Board of Nepal (SEBON) to issue the Initial Public Offer (IPO), which collectively comes to the tune of Rs 3.97 arba.

Moreover, 34 companies have sought the regulatory body’s approval for issuance of rights shares worth Rs 6.19 arba, according to SEBON sources.

More hydro power companies to enter capital market

With the number of financial institutions going public waning, primary investors will see more hydropower companies entering stock market.

More hydropower firms are seeking to issue shares to public to raise capital, while the public is also taking into these shares for its lucrative returns and handsome dividends.

IPO worth 16 arba & Right shares worth 7 arba in the pipeline

Sixteen companies, including Century Commercial Bank and Upper Tama Koshi Hydropower Company, have filed application at the Securities Board of Nepal (SEBON) seeking permission to issue their Initial Public Offer, which collectively stands at around Rs 16 arba.

16 companies applied SEBON for IPO shares issue worth Rs 1.56 billion

Sixteen companies have applied for approval from the Securities Board of Nepal (Sebon) for initial public offering (IPO) worth combined Rs 1.56 billion.

Of the 16 companies, 11 applied in the last six months, while five of them have been awaiting the Sebon approval for the last four years. Sebon these five companies are yet to fulfill the IPO criteria.

Rising provision, NPA threaten to cast shadow over banks’ profits

Though profits posted by most commercial banks for FY 2069/70 came as great news for the entire banking sector, the scenario might not be as rosy as it seems. 

Most of the banks have set aside huge amount of provision for nonperforming assets (NPA) to make up for bad loans.

Civil Bank profit 12.12cr, Janata Bank 19.73cr, Century Comm Bank 6.76cr & NB Bank 59.07cr

Civil Bank has posted a massive growth in profit. Profits increased 345.25% to Rs 12.12 crore from Rs 2.72 crore in the previous fiscal. The bank collected a deposit of Rs 15.63 arba, a 77.50% growth over Rs 8.80 arba of last year. Loans and advances grew 59.55% to Rs 12.36 arba. The bank’s EPS stands at Rs 7.56 and net worth at Rs 107.65.

Prabhu signs remittance pact with Century Commercial Bank

Prabhu Money Transfer on Tuesday signed a remittance payment agreement with Century Commercial Bank.

Now onwards, money sent from foreign countries through Prabhu Money Transfer can be received from all 31 branches of the bank. Rameshwar Sapkota, general manager of Prabhu Money Transfer, and Ganesh Kumar Shrestha, CEO of Century Commercial Bank, signed the agreement amid a function held in Kathmandu.

Century Commercial Bank IPO public share issue likely from 2nd week of Bhadra, 2070

Century Commercial Bank is all set to issue primary shares aimed at general public likely from 2nd week of Bhadra, 2070 . The bank has already appointed Citizen Investment Trust, Nabil Investment, Growmore Merchant, Civil Capital and NCM Merchant as issue managers.

More than half a dozen IPO shares new year as deadline to issue shares has been extended by a year

More than half a dozen financial institutions are relieved as the central bank has extended the obligatory period for them to issue shares to the public.

From now on, financial institutions can go public within three years of coming into operation, according to the recent unified directives for fiscal year 2013-14, issued by Nepal Rastra Bank (NRB).

Earlier, the obligatory period to issue shares for the public was two years of coming into operation.

At present, there are eight financial institutions that are past the two-year deadline of issuing shares