Citizens Bank International Reports a 45.78% Decline in Net Profit in Q2; Distributable Profit Is In Negative
Summary
Citizens Bank International reported a 45.78% decline in net profit in Q2 2082/83, with a negative distributable profit of Rs. 1.10 Arba amid higher impairment charges and reduced operating profit.
Key Points
- Citizens Bank International's net profit fell 45.78% to Rs. 35.88 crore in Q2 2082/83 compared to the previous year.
- Operating profit declined by 44.68% to Rs. 50.41 crore due to increased impairment charges.
- The bank's distributable profit after adjustments was negative Rs. 1.10 Arba.
- Capital adequacy ratio dropped from 12.87% to 12.43%, and non-performing loans increased to 6.86%.
