Global IME Bank Limited (GBIME) has posted an impressive net profit of Rs. 1.85 arba for the first quarter of FY 2082/83, reflecting a 22.92% growth compared to Rs. 1.51 arba recorded during the same period last year. The growth in profit was primarily driven by lower funding costs and steady operating income expansion.
The bank’s net interest income saw a marginal increase of 0.34%, reaching Rs. 4.13 arba. Operating profit grew by 10.44% to Rs. 2.37 arba, while impairment charges fell by 5.67% to Rs. 1.01 arba. On the other hand, personnel expenses increased by 12.45% to Rs. 1.31 arba.
On the balance sheet front, deposits rose by 5.74% to Rs. 582.25 arba, up from Rs. 550.62 arba last year. Loans and advances increased by 2.72% to Rs. 421.25 arba. The bank’s reserves climbed by 4.07% to Rs. 25.45 arba, and retained earnings surged 19.60% to Rs. 4.85 arba. After regulatory adjustments, distributable profit jumped by 153.09% to Rs. 4.84 arba.
Global IME’s capital adequacy ratio improved to 12.98% from 12.46%, while its cost of funds dropped sharply to 3.92% from 5.50%, indicating better efficiency in managing funding sources. The bank’s Earnings Per Share (EPS) increased to Rs. 19.51, up from Rs. 15.87 a year earlier. Similarly, net worth per share rose to Rs. 179.50, and the P/E ratio stood at 12.10 times, with a quarter-end market price of Rs. 236.
Major Financial Highlights (Q1 FY 2082/83 vs. Q1 FY 2081/82)
| Particulars (In Rs '000) | Q1 2082/83 | Q1 2081/82 | Change (%) |
|---|---|---|---|
| Paid Up Capital | 38,115,853 | 38,115,853 | 0.00% |
| Retained Earnings | 4,849,506 | 4,054,879 | 19.60% |
| Reserves | 25,452,353 | 24,456,676 | 4.07% |
| Deposits | 582,254,603 | 550,628,588 | 5.74% |
| Loans & Advances | 421,252,080 | 410,113,933 | 2.72% |
| Net Interest Income | 4,133,063 | 4,118,971 | 0.34% |
| Personnel Expenses | 1,318,229 | 1,172,255 | 12.45% |
| Impairment Charges | 1,010,988 | 1,071,776 | -5.67% |
| Operating Profit | 2,371,636 | 2,147,495 | 10.44% |
| Net Profit | 1,858,650 | 1,512,140 | 22.92% |
| Distributable Profit (After Adjustments) | 4,849,506 | 1,916,101 | 153.09% |
| Capital Adequacy Ratio | 12.98% | 12.46% | 4.17% |
| Cost of Fund | 3.92% | 5.50% | -28.73% |
| EPS (Rs.) | 19.51 | 15.87 | 22.92% |
| Net Worth Per Share (Rs.) | 179.50 | 174.80 | 2.69% |
| P/E Ratio (times) | 12.10 | — | — |
| Quarter-End Market Price (Rs.) | 236 | — | — |
Summary:
Global IME Bank has started FY 2082/83 on a strong note, with double-digit growth in profit, improved capital position, and reduced funding costs. Its consistent financial performance and expanding balance sheet underline its position as one of Nepal’s leading commercial banks.