Citizens Bank International Limited has released its unaudited financial statements for the first two quarters of the current fiscal year 2082/83 (B.S.). The bank reported a net profit of NPR 358.858 million, marking a 45.8% decline compared to NPR 661.828 million recorded during the same period last year. The decrease in net profit is primarily attributed to a sharp fall in net fees and commissions and an increase in impairment charges.
During the review period, the bank’s net interest income rose by 2.27% to NPR 3.144546 billion. Total operating income increased by 4.68% to NPR 4.118749 billion. However, net fees and commissions fell steeply by 57.68% to NPR 272.813 million, resulting in operating profit dropping 44.68% to NPR 504.171 million. Impairment charges increased from NPR 1.3853 billion in the previous year to NPR 1.8359 billion.
The bank’s non-performing loan (NPL) ratio rose by 2.01 percentage points to 6.86%, compared to 4.85% in the same period last year. Citizens Bank collected deposits totaling NPR 210.223564 billion and disbursed loans worth NPR 168.212002 billion, maintaining a credit-deposit (CD) ratio of 82.66%. The bank’s base rate stood at 5.62%.
During the period, the bank’s distributable profit was negative at NPR -110.0493 million, indicating limited dividend distribution capacity. The bank’s paid-up capital is NPR 15.5074 billion, with reserves totaling NPR 8.821724 billion. Earnings per share (EPS) decreased from NPR 8.96 to NPR 4.63. Net worth per share is NPR 149.79, while the price-to-earnings (P/E) ratio stands at 41.68 times.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
