Kathmandu. Most of the financial indicators of NIC Asia Bank have been affected due to the fall in business. The bank’s last fiscal year 2081. Looking at the unrefined financial statements of 82, financial health seems to be weakening.
According to the financial statements published today, the bank has earned a profit of Rs 161.5 million in the last fiscal year. The previous fiscal year 2080. The bank had posted a net profit of Rs 701.4 million in 2017-19. In this way, the bank’s profit has decreased by 76.97 percent compared to the previous year.
In the review year, the bank’s distributable profit stood at Rs 5.21 billion. In the previous fiscal year, the net profit was Negative at Rs 2.66 billion. Even in the review year, the bank will not be able to distribute dividends.
In the review year, the bank’s operating profit stood at Rs 1.27 billion. In the previous fiscal year, the operating profit was Rs 2.03 billion. The bank’s operating profit also declined by 37.44 percent.
In the last fiscal year, the bank earned Rs 10.25 billion in interest income. In the same period last year, the bank had earned Rs 10.76 billion in interest income. Interest income increased by 4.71 percent.
With a paid-up capital of Rs 14.91 billion, the bank’s retind earnings stood at Rs 5.21 billion and reserves at Rs 19.81 billion. In the previous fiscal year, retained earnings stood at Rs 2.66 billion and reserves at Rs 17.26 billion.
In the review year, the bank collected deposits of Rs 319.06 billion and invested Rs 134.96 billion in loans. In the previous fiscal year, the bank had collected deposits of Rs 354.99 billion and invested Rs 125.97 billion in loans. The bank’s business has declined compared to the previous year.
In the review year, the bank’s bad loan ratio (NPL) increased to 1.87 percent. The bank’s NPL stood at 1.44 per cent in the same period last year.
The bank’s annualised earnings per share (EPS) declined to Rs 16.54. Last year, the EPS was Rs 1.08. The bank has a net worth of Rs 197.30 per share with a PE ratio of 387.82 times.
