Prime Commercial Bank's Profit Sees Remarkable Growth, Earnings Per Share Improves
Author
NEPSE trading
Prime Commercial Bank Limited (PCBL) has recently published its unaudited financial report for the fourth quarter of fiscal year 2081. The report indicates a significant increase in both the bank's net profit and earnings per share (EPS).
Key Financial Highlights:
Net Profit: By the end of Asar 2081, the bank earned a net profit of NPR 3.77 billion, which is a 267.19% increase compared to the same period last year. In the previous year, the bank had a net profit of NPR 1.02 billion during the same period.
Net Interest Income: The bank's net interest income increased by 12.16%, reaching NPR 3.6 billion. Additionally, a reduction in impairment charges contributed to the significant growth in the bank's profit.
Fee and Commission Income: The bank's net fee and commission income increased by 31.45%, further strengthening its operating income.
Operating Income and Profit: The bank's total operating income increased by 15.53%, reaching NPR 4.52 billion, while operating profit grew by 177.31% to NPR 3.79 billion.
Earnings Per Share (EPS): The bank's EPS increased by NPR 14.15, reaching NPR 19.45, indicating an improvement in the bank's financial performance.
Distributable Profit: By the end of Asar, the bank's distributable profit was NPR 1.19 billion, with a distributable EPS of NPR 6.18.
Financial Position:
Prime Commercial Bank has a paid-up capital of NPR 19.4 billion and has accumulated a reserve fund of NPR 11.52 billion. During the review period, the bank's deposits grew by 21.36% to NPR 127 billion, while loans increased by 18.58% to NPR 104 billion.
Prime Commercial Bank has shown significant financial improvement in the fourth quarter of fiscal year 2081. The growth in interest income, reduction in impairment charges, and the surge in operating profit have strengthened the bank's long-term financial stability. The bank is expected to maintain this momentum in the coming days.
