Everest Bank has published first quarter report of FY 2075/76 based on Nepal financial reporting standard (NFRS). It has reported surge in net profit by 19.17% in the comparing period.
Net profit: It has reported net profit of Rs63.33 crore in Q1 which was 53.14 crore in the same period of last fiscal year.
As per the NFRS model, the bank has free profit after regulatory adjustments of Rs.49.01 crore which can be distribute as dividend to its shareholders.
Deposit: The bank is able to collect deposit Rs. 1.20 kharba in Q1 of FY 2075/76 from Rs.99.37arba in Q1 of last Fiscal year. Deposit collection grown by 21.10%.
Loan & advance: It had extended 1.03 kharba in loan and advances which was Rs.81.85 arba in same period of last fiscal year. Loan expansion increased by26.21%.
Net interest income: The company made net interest income of Rs. 1.31 arba in Q1 from Rs.1.03 arba in Q1 of last fiscal year 2074/75.
Expenses: The bank has made expanses of Rs.41.11 crore for staff salary and Rs. 16.66 crore for operating expanses.
Operating profit: It has posted operating profit of Rs.90.48 crore from Rs.75.74 crore in the corresponding quarter of last year. Operating profit rose by 19.45%.
Paid up capital & Reserve fund: Paid up capital surged to Rs.8.10 arba from Rs.6.11 arba in same period of last year. Reserve increased to Rs.8.63 arba from Rs.6.67 arba the last year.
Its non performing loan increased to 0.21% from 0.26% in the last year.
Major indicators
- Annualized earning per share (EPS): Rs.31.56
- Net worth per share: Rs.206.51
- Price to Earning ratio: 20.25 times
- Cost of fund: 6.08%
- Credit to deposit ratio: 77.32%
