Global IME Bank Limited (GBIME) has announced a remarkable net profit of Rs. 1.85 arba in the inaugural quarter of FY 2082/83, representing a 22.92% increase compared to Rs. 1.51 arba published during the corresponding timeframe of the previous fiscal year. This enhancement in profitability was fueled by a decline in funding expenses and consistent growth in operating revenue.
The bank’s net interest income saw a marginal rise of 0.34% to reach Rs. 4.13 arba. Operating profit escalated by 10.44% to Rs. 2.37 arba, while impairment charges fell by 5.67% to Rs. 1.01 arba. Conversely, personnel costs increased by 12.45% to Rs. 1.31 arba.
Deposits totaled Rs. 582.25 arba, reflecting a 5.74% increase from last year’s Rs. 550.62 arba, whereas loans and advances grew by 2.72% to Rs. 421.25 arba. The bank’s reserves advanced 4.07% to Rs. 25.45 arba, and retained earnings soared by 19.60% to Rs. 4.85 arba. Following regulatory modifications, distributable profit surged dramatically by 153.09% to Rs. 4.84 arba.
Global IME Bank’s capital adequacy ratio enhanced to 12.98% from 12.46%, while the cost of funds significantly decreased to 3.92% from 5.50%. The earnings per share (EPS) were recorded at Rs. 19.51, rising from Rs. 15.87 in the previous year. The bank’s net worth per share climbed to Rs. 179.50, and its P/E ratio was established at 12.10 times, with a market price of Rs. 236 at the close of the quarter.
