Everest Bank Lifts Dividend Capacity to 38.27% with NPR 4.95B Distributable Profit
Everest Bank Limited reported over NPR 4.95 billion in distributable profit for FY 2081/82, boosting dividend capacity to 38.27%. Net profit surged 32.80% to NPR 4.91 billion.
ShareSanskar | Shrawan 26, 2082
Everest Bank Limited has delivered a striking financial performance for the fourth quarter of fiscal year 2081/82, posting a distributable profit exceeding NPR 4.95 billion. This outstanding result has propelled the bank’s dividend capacity to an impressive 38.27%, marking a significant 26.67% increase compared to the previous year. This achievement underscores Everest Bank’s unwavering dedication to maximizing shareholder value and its stronghold in Nepal’s banking sector.
The bank’s net profit surged to over NPR 4.91 billion, a remarkable 32.80% rise from NPR 3.70 billion recorded in the prior year. Supported by a solid paid-up capital of NPR 12.94 billion, this growth reflects Everest Bank’s robust operational strategies and financial discipline. Earnings per share followed a similar upward trend, increasing from NPR 31.47 to NPR 37.99, while operating profit and net interest income also demonstrated substantial growth, reflecting the bank’s increasing efficiency and profitability.
In addition to these impressive numbers, Everest Bank has showcased exemplary risk management by reducing its non-performing loan ratio from 0.71% to a mere 0.38%. This achievement highlights the bank’s commitment to asset quality and prudent lending practices. Moreover, the return on equity climbed to 16.44%, up from 13.93%, and net worth per share rose from NPR 236.28 to NPR 247.39, further illustrating the institution’s ability to deliver sustainable returns while strengthening its capital base.
Everest Bank’s business expansion is equally remarkable, with total deposits swelling to NPR 298.81 billion from NPR 232.31 billion and loans and advances growing to NPR 213.62 billion from NPR 178.21 billion. This growth signals strong customer confidence and an expanding footprint in the financial market. Coupled with a strategic reduction in the cost of funds from 5.64% to 3.87% and a decrease in the base rate from 8.13% to 5.27%, the bank has enhanced its competitive advantage and market positioning substantially.
Standing firm on a foundation of financial strength, Everest Bank boasts a liquidity ratio of 38.94%, a return on assets of 1.49%, and a price-to-earnings ratio of 18.47. These figures collectively paint a picture of a resilient and forward-looking institution. Everest Bank’s stellar performance not only reinforces its leadership but also sets a new benchmark for banking excellence in Nepal’s dynamic financial landscape.