Prabhu Bank Sees Significant Profit Growth, Financial Performance Improves
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NEPSE trading
Prabhu Bank Sees Significant Profit Growth, Financial Performance Improves
Prabhu Bank Limited (PRVU) has released its unaudited financial report for the fourth quarter of fiscal year 2081. According to the report, the bank has seen a remarkable increase in net profit, reflecting an overall improvement in its financial performance.
Key Financial Highlights:
Net Profit: By the end of Asar 2081, the bank earned a net profit of NPR 4.48 billion, which marks a staggering 1499.04% increase compared to the previous fiscal year. The current report indicates that last year's net profit was only NPR 280 million, although the previously published report mentioned a net profit of NPR 2.25 billion for the previous year.
Impairment Charge: In the previous fiscal year, the bank's impairment charge was NPR 5.21 billion, which has significantly decreased according to the current report. This reduction has contributed to the substantial improvement in the bank's profit.
Interest and Commission Income: During the review period, the bank's net interest income increased by 19.43% to NPR 11.47 billion, while net fee and commission income grew by 19.96% to NPR 1.42 billion.
Operating Income: The bank's total operating income increased by 20.67%, reaching NPR 16.77 billion, enhancing the bank's overall financial position.
Earnings Per Share (EPS): The bank's EPS also saw a significant increase, reaching NPR 17.84. As of the end of Asar, the bank's distributable profit stands at NPR 1.22 billion.
Financial Position:
Prabhu Bank has a paid-up capital of NPR 23.54 billion and has accumulated a reserve fund of NPR 12.89 billion. During the review period, the bank's deposits grew by 5.51% to NPR 2.32 trillion, while loans decreased by 3.83% to NPR 2.06 trillion.
Conclusion:
Prabhu Bank has shown significant profit growth in the fourth quarter of fiscal year 2081, indicating improvements in its long-term stability and financial position. However, the decline in loan disbursement and the reduction in impairment charges suggest that strategic measures may be needed to further strengthen the bank's financial performance.
