Himalayan Bank Limited (HBL) has released its unaudited financial statements for the third quarter of the current fiscal year 2076-77. According to the statement, most of the bank’s indicators have improved.
The bank has managed to earn a net profit of Rs 2 Arab 31 Crore 71 Lakh by the third quarter of the current fiscal year. This is Rs. 30 Crore 30 Lakh more than the same period of last year. The bank had earned a net profit of Rs 2 Arab 1 Crore 40 Lakh in the same period of last year. The distributable profit of the bank is Rs. 82 Crore 87 Lakh.
As the bank net interest income and operating profit increased, so did non-performing loans which result to increase in net profit.
By the end of the third quarter of the current fiscal year, the bank has earned net interest income of Rs 3 Arab 84 Crore 24 Lakh and operating profit of Rs 3 Arab 8 Crore 64 Lakh. The bank’s net interest income is Rs 7 Crore 90 Lakh higher than the same period last year and its operating profit is Rs 22 Crore 90 Lakh million higher.
Due to the reverse impairment charge, the growth rate of operating profit is higher than the net interest income of the bank. Imperial charge, which was Rs. 23 Crore till the third quarter of last year, has been reversed to Rs 14 Crore. This has helped the bank to increase its operating profit and net profit.
As of third quarter, the bank had collected Rs 1 Kharab 16 Arab in deposits and disbursed Rs 1 Kharab 5 Arab in loans. The non-performing loan (NPL) ratio stood at 1.11 %. This is 0.20 % points less than the same period of last year.
With the increase in the bank’s net profit, there has been a general improvement in earnings per share (EPS). With a paid-up capital of Rs 9 Arab 37 Crore, the bank’s earnings per share stood at Rs 32.96. This is Rs 1.44 more than the same period of last year. The bank has accumulated Rs 6 Arab 78 Crore in the reserve fund and Rs 1 Arab 13 Crore in the shareholders’ fund. The bank’s net worth per share stood at Rs 184.50 while the price-to-earnings (PE) ratio stood at 15.17 times.