Prabhu Bank Reports 965% Surge in Profit, Boosted by Impairment Charge Adjustment

Prabhu Bank Limited (PRVU) has published its unaudited financial report for the fourth quarter of FY 2081/82, showing a remarkable 965.41% year-on-year growth in net profit. The bank earned NPR 5.44 billion in net profit compared to NPR 510.8 million in the same period last year.

This extraordinary growth is largely attributed to changes in impairment charges. Last year’s impairment charge was NPR 556.8 million, while this year’s report shows a charge of NPR 4.71 billion for the same period, which significantly reduced last year’s profit and amplified the growth rate this year.

As of the end of Ashad 2082, the bank’s Earnings Per Share (EPS) stands at NPR 23.12, Net Worth Per Share at NPR 162, and Price-to-Earnings (P/E) ratio at 9.6 times. The distributable profit is NPR 1.04 billion, with a distributable EPS of NPR 4.44.