Financial Performance
NIC Asia Bank Limited has published its unaudited financial results for the first half of the fiscal year 2082/83. According to the report, the bank’s net profit fell by 13.54%, reaching Rs. 13.12 crore, compared to Rs. 15.17 crore during the same period last year. The decline was primarily driven by a drop in net interest income and an increase in impairment charges.
During the review period, the bank’s net interest income declined by 15.87%, totaling Rs. 4.36 billion, while total operating income fell by 11.81% to Rs. 5.34 billion. Operating profit decreased sharply by 42.16%, amounting to Rs. 19.78 crore. The bank’s impairment charges increased from Rs. 2.35 billion to Rs. 2.43 billion, further affecting profitability.
Asset Quality and Loans
NIC Asia Bank’s non-performing loan (NPL) ratio rose by 2.86 percentage points, reaching 7.47%. During the period, the bank collected deposits of Rs. 327.50 billion and disbursed loans of Rs. 209.31 billion, maintaining a loan-to-deposit ratio (CD ratio) of 67.10%. The base rate stood at 6.41%. The bank’s distributable profit was negative at Rs. 7.40 billion for the period.
Capital and Shareholder Metrics
The bank’s paid-up capital is Rs. 14.92 billion, with a reserve fund of Rs. 14.66 billion. Earnings per share (EPS) declined by Rs. 0.28 to Rs. 1.76, while net worth per share is Rs. 198.33, and the price-to-earnings (P/E) ratio stands at 188.44x.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
