Tag: Impairment

  • Nepal Investment Mega Bank Q2 Report: 13.62% Net Profit Decline Amid Strong Financial Position

    Nepal Investment Mega Bank Q2 Report: 13.62% Net Profit Decline Amid Strong Financial Position


    Nepal Investment Mega Bank Limited (NIMB) has recently disclosed its financial performance for the second quarter of fiscal year 2080/81, indicating a 13.62% decrease in net profit, which now stands at Rs 1.08 Arba.

    Despite the decline in net profit, the bank remains in a strong financial position with a total paid-up capital of Rs. 34.12 Arba and reserves amounting to Rs. 26.07 Arba. It is important to note the negative retained earnings at Rs 1.95 Arba.

    During the same period, the bank’s total deposits reached an impressive Rs 3.89 Kharba, while loans and advances to customers totaled Rs 3.12 Kharba. An encouraging aspect was the substantial 80.20% increase in Net Interest Income, reaching Rs. 7.54 Arba. However, the financial report also highlighted significant expenditures, including personnel expenses of Rs. 1.73 Arba and impairment charges of Rs. 2.86 Arba.

    In terms of key financial metrics for the second quarter, NIMB reported an annualized Earnings Per Share (EPS) of Rs 10.56, and the net worth per share stood at Rs 170.68. Nonetheless, concerns arose as the Non-Performing Loans (NPL) spiked to 4.75%. Additionally, the bank revealed a negative distributable profit of Rs. 1.95 Arba.

  • Laxmi Sunrise Bank Q2 Report: Modest Profit Dip Amidst Impressive Growth and NPL Concerns

    Laxmi Sunrise Bank Q2 Report: Modest Profit Dip Amidst Impressive Growth and NPL Concerns


    Laxmi Sunrise Bank Limited (LSL) has shared its financial results for the second quarter of the fiscal year 2080/81, reporting a small 1.66% decrease in net profit to Rs. 1.05 Arba compared to the same period last fiscal year when it earned Rs. 1.07 Arba.

    The bank showcased positive growth with a remarkable 104.66% increase in net interest income, reaching Rs. 5.65 Arba, and operating profits rising to Rs. 1.44 Arba for the corresponding period. However, loans and advances saw a slight 0.07% decrease, while customer deposits increased by almost 4.84% to Rs. 3.1 Kharba. Notably, impairment charges surged significantly by 376.87%, totaling Rs. 2.73 Arba in Q2 of FY 2080/81.

    For the fiscal year, LSL reported an annualized earnings per share (EPS) of Rs. 9.14, and the net worth per share was Rs. 166.62. A concern arises as Non-Performing Loans (NPL) saw a substantial 199.36% increase, reaching 4.67% in the second quarter, a significant jump from the 1.56% recorded in the same period last fiscal year.

    LSL reported negative distributable profits of Rs. 81.18 Crores, while maintaining a paid-up capital of Rs. 23.18 Arba and reserves and surplus amounting to Rs. 16.26 Arba in Q2 of FY 2080/81. Specific figures show an increase of 7.00% in paid-up capital to Rs. 23,187,155.00, a decline of 146.97% in retained earnings to -811,864.00, and a 9.67% increase in reserves to 16,260,042.00. Deposits rose by 4.84% to Rs. 310,591,321.00, and loans and advances experienced a marginal decrease of 0.07% to Rs. 247,691,314.00. Net Interest Income increased significantly by 104.66% to Rs. 5,658,331.00. Personnel expenses and impairment charges were reported at Rs. 1,802,336.00 and Rs. 2,732,609.00, respectively.

    The operating profit for the quarter was Rs. 1,445,052.00, reflecting a 3.22% decrease, and the net profit stood at Rs. 1,059,210.00, representing a 1.66% decline. The capital adequacy ratio is reported at 12.67%, showing a slight decrease from the previous year. The Cost of Fund decreased by 14.59% to 7.61%. The NPL percentage increased significantly by 199.36%, reaching 4.67%. The Qtr end PE Ratio stands at 19.06 times.

  • “Siddhartha Bank’s Q4 Sees Strong Net Profit Growth, Doubled Impairment Allocation”

    “Siddhartha Bank’s Q4 Sees Strong Net Profit Growth, Doubled Impairment Allocation”


    Siddhartha Bank Limited (SBL) has released its fourth-quarter report for the fiscal year 2079-80, revealing a steady growth in its Net Profits, increasing by nearly 10 percent. In the last quarter of FY 2079-80, the bank’s profits reached Rs. 3.19 billion, a rise from the previous year’s Rs. 2.90 billion in the same period.

    The bank has also seen positive developments in its Net Interest Income and Operating profits, which have increased by 23.97 percent and 9.83 percent, respectively. The core business revenue for the bank in the last quarter of FY 2079-80 reached Rs. 8.17 billion, compared to the previous Rs. 4.68 billion.

     

  • “LBB L’s Q4 Net Profit Dips, Impairment Charges Soar”

    “LBB L’s Q4 Net Profit Dips, Impairment Charges Soar”


     

    Lumbini Bikas Bank Limited (LBBL) has released its fourth-quarter report for the recently ended financial year, showing a slight decrease in net profit by 3.88 percent compared to the same period in the previous year. In Q4 of FY 079-80, the company made a profit of Rs. 61.24 crores.

    The most significant change in the report is the substantial increase in impairment charges for the company during the last quarter of FY 079-80, reaching Rs. 40.31 crores. This is in contrast to the Rs. 3.40 crores impairment charges incurred by the bank during the same quarter of FY 078-079.

     

  • Mahila Laghubitta Bittiya Sanstha Limited Reports Decline in Q3 Profits

    Mahila Laghubitta Bittiya Sanstha Limited Reports Decline in Q3 Profits


    Mahila Laghubitta Bittiya Sanstha Limited (MLBSL) has released its third-quarter report for the fiscal year 2079/2080, revealing a net profit of Rs. 5.24 crores. This marks a significant decline of 52.80% compared to the corresponding quarter of the previous fiscal year, which reported a net profit of Rs. 11.11 crores.

    MLBSL has witnessed a substantial increase in impairment charges, rising by 604.13% to reach Rs. 3.26 crores until the end of Q3 in the current fiscal year. Additionally, the Non-Performing Loan (NPL) of the company has surged, reaching 9.80% in the third quarter of FY 2079/80. It can be inferred that higher impairment charges and NPL have adversely affected the company’s profitability.

    On a different note, MLBSL’s net interest income, which represents its core revenue, has experienced a slight decline of 3.57% and amounts to Rs. 20.58 crores until the end of Q3 in FY 2079/80. Meanwhile, the company’s personnel and staff expenses have increased to Rs. 12.59 crores, reflecting a growth of 22.52% compared to the third quarter of FY 2078/79.

    MLBSL has successfully raised its paid-up capital by 47.50%, totaling Rs. 21.75 crores. The company also maintains a reserve and surplus, comprising reserves and retained earnings, amounting to Rs. 22.46 crores.

    With an Earnings per Share (EPS) of Rs. 32.17, MLBSL showcases its profitability per share. The Net Worth per Share of the company stands at Rs. 203.24, indicating its value per share based on its net worth.

    Overall, MLBSL’s Q3 report demonstrates a decline in profits, driven by increased impairment charges and NPL. The company also faces challenges related to net interest income and rising personnel expenses. However, it has managed to strengthen its financial position through an increase in paid-up capital and maintains a favorable EPS and net worth per share.

  • Nerude Laghubitta Bittiya Sanstha Limited reports a significant decline in net profit and increase in NPL for Q3 FY 2079/80

    Nerude Laghubitta Bittiya Sanstha Limited reports a significant decline in net profit and increase in NPL for Q3 FY 2079/80


    Nerude Laghubitta Bittiya Sanstha Limited (NLBBL) has released its third-quarter report for FY 2079/2080, revealing a significant decline in net profit by 85.22%. According to the report, the net profit decreased to Rs. 3.15 crores, compared to Rs. 21.37 crores in the corresponding quarter of the previous year.

    The company’s borrowings decreased by 5.57% to Rs. 4.91 Arba, down from Rs. 5.20 Arba in the same quarter of the previous year. On the other hand, deposits increased by 5.29% to Rs. 3.37 Arba, while loans and advances experienced a slight decrease of 0.26% to 9.89 Arba during this quarter.

    The core revenue, represented by net interest income, saw a significant decrease of 30.82% to Rs. 33.05 crores, compared to Rs. 47.78 crores in the corresponding quarter of the previous year.

    The provision for possible losses amounted to Rs. 7.10 crores, marking a substantial increase of 1278.48%, impacting the overall profitability for this period.

    In terms of financial position, the paid-up capital of the company stood at Rs. 73.20 crores in this quarter, with reserve and surplus at Rs. 52.27 crores.

    The company’s non-performing loans (NPL) stood at a higher level of 9.78%.

    The earnings per share (EPS) for the company is reported as Rs. 5.75, while the net worth per share stands at Rs. 171.41. The company traded at a price-to-earnings (P/E) multiple of 106.97 times.

  • Manakamana Smart Laghubitta Bittiya Sanstha Limited Reports Significant Decline in Net Profit for Q3 2079/2080

    Manakamana Smart Laghubitta Bittiya Sanstha Limited Reports Significant Decline in Net Profit for Q3 2079/2080


    Manakamana Smart Laghubitta Bittiya Sanstha Limited (MKLB) has published its third-quarter report for the fiscal year 2079/2080, which shows a significant decline in net profit by 108.05% compared to the same quarter in the previous year. The net profit dropped to a negative of Rs. 42.52 lakhs from Rs. 5.28 crores.

    The company’s borrowings decreased by 29.92% to Rs. 37.6 crores, and deposits increased by 17.57% to Rs. 4.69 crores. Loans and advances also decreased by 13.91% to Rs. 93.49 crores during this quarter.

    MKLB’s net interest income (core revenue) decreased by 25.73% to Rs. 4.15 crores compared to Rs. 5.59 crores in the corresponding quarter of the previous year. The company’s paid-up capital stood at Rs. 14.17 crores, and its reserve and surplus stood at Rs. 1.87 crores, showing a decrease of 41.98% in this quarter.

    The cost of funds slightly increased to 9.83% from 8.08% in the corresponding quarter, and the non-performing loans increased to 4.91%. The annualized earnings per share (EPS) for MKLB stand at Rs. -4, while the net worth per share is Rs. 113.2.

    In summary, MKLB’s third-quarter report showed a massive decline in net profit, a decrease in borrowings, an increase in deposits, and a decrease in loans and advances. Additionally, the company’s net interest income, reserve and surplus, and earnings per share have decreased, while the cost of funds and non-performing loans have slightly increased.

  • Increased Impairment Charges Contributed to 8.81% RSDC Laghubitta’s net profit falls in the third quarter; NPL rises to 1.37%

    Increased Impairment Charges Contributed to 8.81% RSDC Laghubitta’s net profit falls in the third quarter; NPL rises to 1.37%


    RSDC Laghubitta Bittiya Sanstha (RSDC) has released its third-quarter report for FY 2079/2080, which shows an 8.81% decrease in Net Profit. According to the company’s report, net profit fell to Rs. 8.69 crores from Rs. 9.43 crores in the previous year’s similar period.

    The company’s distributable profit after PL Appropriation and Regulatory Adjustments was Rs 5.63 crores in the third quarter.

    On the other hand, the company’s borrowings climbed by 32.42% to Rs. 5.93 Arba, up from Rs. 4.47 Arba in the same quarter last year. In this quarter, the company’s loans and advances to cooperatives climbed by 24.60% to Rs. 6.71 Arba.

  • Higher Impairment Charges Caused a 67.92% Drop in Kalika Laghubitta’s Net Profit

    Higher Impairment Charges Caused a 67.92% Drop in Kalika Laghubitta’s Net Profit


    Kalika Laghubitta Bittiya Sanstha (KMCDB) released its second-quarter report for FY 2079/2080, which showed a 67.92% decrease in net profit. According to the company’s report, net profit fell to Rs. 2.69 crores from Rs. 8.40 crores in the previous year’s corresponding quarter.

    The decrease in growth profit is primarily due to impairment charges totaling Rs. 1.66 crores. Net interest income (core revenue) has also decreased by 9.23% to Rs. 13.7 crores from Rs. 15.16 crores in the same quarter last year.