Global IME Bank shows a nominal growth of 5.15% in net profit; reserve leaps to 3.37 arba

Global IME Bank Ltd. has published the report for the 2nd quarter for the fiscal year 2074/75. The company has earned a net profit of Rs 95.43 crore, up from Rs 90.62crore in the corresponding quarter of the previous fiscal year. This accounts for a growth of 5.15%.

A soaring growth is seen in both the interest income and interest expense of the company. The interest income has increased to Rs 5.45 arba, stating a growth of 81.04%. Interest expense has increased by massive 179.45% to Rs 3.71  arab. The net interest income has increased by 3.04 % to Rs 1.73arab.

Staff expense has increased to Rs 48 crore, with a growth of 18.51 %. 

The company operating profit has decreased to Rs 1.17 arab with a decline of 0.44 %. 

Deposit collection has surged to Rs 1.002 kharab, up from 84.13 arba with a growth of 19.13%. Company's lending has increased by 23.18 % to Rs  88.09 arba.  

The company reserve has increased to Rs 3.37 arab, up from Rs 2.46arab. Networth of Rs 137.91 has been recorded. 

Positive side:    

• An increase in Net profit by 5.15%
• Surge in reserve by 36.89%

Negative Side:

• Fall in Earning per Share.
• Hefty rise in interest expense.
• Tight Adequacy Ratio.

 

(Figure In 000's)

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Particulars	As of 2074/75	As of 2073/74	Percentage Change
Paid-up Capital	8,888,376	7,150,550	24.30
Reserve	3,369,346	2,461,376	36.89
Deposit	100,216,310	84,126,676	19.13
Net Interest Income	1,729,640	1,678,581	3.04
Operating Profit	1,171,591	1,176,781	-0.44
Staff Expense	479,913	404,945	18.51
Net profit	9,52,900	906,209	5.15
Cost of Fund	6.98	4.05
EPS	21.44	25.35
Networth	137.91	134.42