Despite of hefty amount of expenses on its staffs and huge provision for
possible losses, profit’s of Agricultural Development Bank Ltd. (ADBL)
has increased by 23.37 percent in the fourth quarter of the last fiscal
year 2071/72.
According to the unaudited financial statement of the bank published today, its net profit rises to Rs 1.87 arba in the last fiscal year up from Rs 1.52 arba of net profit that it had posted in the corresponding period of the previous fiscal year 2070/71.
The statement shows that the bank, where the government has the majority of the stake, spent Rs 2.96 arba under the ‘staff expenses’ heading.
The bank’s provisioned Rs 93 crore for the possible losses.
The net interest income of the bank rises to Rs 5.21 arba from Rs 4.62 arba in the corresponding previous year quarter ending.
The bank was able to bring down its non-perform loan (NPL) by marginally to 4.53 percent from 5.46 percent.
The write back of Rs 60.23 crore from the amount it had earlier provisioned for the possible loss was also one of the main contributing factors for the profit of the bank.
The bank, however, observed a notable growth in the deposit and loan mobilization last year. It mobilized Rs 76.92 arba in deposit and Rs 66.60 arba in loans last year, up from Rs 65.18 arba in deposit and Rs 57.18 arba in loans in the previous year.
Its annualized EPS is at Rs 43.52, P/E ratio 9.92 times and net worth per share stands at Rs 233.99.
The company has provided 7% bonus and 8% cash dividend to its shareholders in FY 2070/71. - SSN
According to the unaudited financial statement of the bank published today, its net profit rises to Rs 1.87 arba in the last fiscal year up from Rs 1.52 arba of net profit that it had posted in the corresponding period of the previous fiscal year 2070/71.
The statement shows that the bank, where the government has the majority of the stake, spent Rs 2.96 arba under the ‘staff expenses’ heading.
The bank’s provisioned Rs 93 crore for the possible losses.
The net interest income of the bank rises to Rs 5.21 arba from Rs 4.62 arba in the corresponding previous year quarter ending.
The bank was able to bring down its non-perform loan (NPL) by marginally to 4.53 percent from 5.46 percent.
The write back of Rs 60.23 crore from the amount it had earlier provisioned for the possible loss was also one of the main contributing factors for the profit of the bank.
The bank, however, observed a notable growth in the deposit and loan mobilization last year. It mobilized Rs 76.92 arba in deposit and Rs 66.60 arba in loans last year, up from Rs 65.18 arba in deposit and Rs 57.18 arba in loans in the previous year.
Its annualized EPS is at Rs 43.52, P/E ratio 9.92 times and net worth per share stands at Rs 233.99.
The company has provided 7% bonus and 8% cash dividend to its shareholders in FY 2070/71. - SSN
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