Everest Bank Limited (EBL) has declared a net income of Rs. 1.17 arba for the first quarter of the fiscal year 2082/83, showcasing a growth of 4.57% compared to the Rs. 1.12 arba achieved in the same timeframe last year.
The bank’s net interest revenue rose by 12.38% to Rs. 2.40 arba, bolstered by enhanced interest margins and a significant reduction in the cost of funds, which plummeted to 3.61% from 5.09% a year earlier. Operating revenue ascended by 4.62% to Rs. 1.68 arba, whereas impairment expenses skyrocketed by 296.53% to Rs. 42.31 crore.
Deposits increased by 5.04% to Rs. 3.13 kharba, with loans and advances growing by 6.52% to Rs. 2.27 kharba. The bank’s reserves climbed by 4.01% to Rs. 14.41 arba, while retained earnings surged 12.32% to Rs. 5.49 arba.
Everest Bank sustained a capital adequacy ratio of 12.77%, a rise from 12.07% during the same period last year. The earnings per share (EPS) were Rs. 36.44, while the net worth per share increased to Rs. 255.69. The distributable profit post adjustments soared by 155.25% to Rs. 5.49 arba.
At the close of the quarter, the bank’s shares were priced at Rs. 640.10, indicating a price-to-earnings (P/E) ratio of 17.57 times
