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5 Fold Increment in Prabhu Bank's Operating Profit

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5 Fold Increment in Prabhu Bank's Operating Profit
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August 14: Prabhu Bank has logged 5 folds increment in operating profit to Rs 876.2 million in the fourth quarter of the last FY. The increase in operating profit has been attributed by 42 percent reduction in employee expenses and 33 percent increase in operating income. The bank has collected Rs 607.4 million deposit and extended loan of Rs 48.21 billion.

The bank had earned Rs 1.01 billion profit during the previous FY. Net profit of the last FY has been increased by 12.73 percent to Rs 1.14 billion. Similarly, net interest income, interest income and interest expense of the bank has increased by 50 percent, 27.57 percent and 27.66 percent respectively. Likewise, fixed assets of the bank have increased by 23.57 percent and other assets have increased by 8.93 percent. The bank has been able to recover Rs 1.05 billion bad debt from the previous FY. The bank has also earned Rs 153.5 million through foreign exchange.

Meanwhile, capital adequacy of the bank has increased by 1.52 percent to 12 percent.  Similarly, CD ratio has rested at 73.54 percent. According to the fourth quarter financial report of the bank, the bank has liquidity ratio of 31 times, earning per share of Rs 19.52 and P/E ratio of 21 times. 

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