MW Bancorp (MWBC) has reported 55.32 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $0.07 million, or $0.09 a share in the quarter, compared with $0.05 million, or $0.06 a share for the same period last year. Revenue during the quarter grew 25.53 percent to $0.94 million from $0.75 million in the previous year period. Net interest income for the quarter rose 15.85 percent over the prior year period to $0.78 million. Non-interest income for the quarter rose 101.28 percent over the last year period to $0.16 million.
Net interest margin improved 20 basis points to 2.72 percent in the quarter from 2.52 percent in the last year period.
Liabilities outpace assets growthTotal assets stood at $124.22 million as on Sep. 30, 2016, up 7.70 percent compared with $115.34 million on Sep. 30, 2015. On the other hand, total liabilities stood at $108.11 million as on Sep. 30, 2016, up 8.51 percent from $99.63 million on Sep. 30, 2015. Loans outpace deposit growthNet loans stood at $107.68 million as on Sep. 30, 2016, up 10.21 percent compared with $97.71 million on Sep. 30, 2015. Deposits stood at $78.47 million as on Sep. 30, 2016, up 4.48 percent compared with $75.11 million on Sep. 30, 2015. Loans to deposits ratio was 139.56 percent for the quarter, up from 132.17 percent for the previous year quarter.
Investments stood at $3.80 million as on Sep. 30, 2016, down 30.95 percent or $1.70 million from year-ago. Shareholders equity stood at $16.11 million as on Sep. 30, 2016, up 2.55 percent or $0.40 million from year-ago.
Return on average assets moved up 7 basis points to 0.24 percent in the quarter from 0.17 percent in the last year period. At the same time, return on average equity increased 46 basis points to 1.81 percent in the quarter from 1.35 percent in the last year period.
Meanwhile, nonperforming assets to total assets was 0.95 percent in the quarter, down from 1.01 percent in the last year period.
Capital ratios deteriorateMW Bancorp witnessed a deterioration in capital ratios during in the quarter. Tier-1 leverage ratio stood at 12.11 percent for the quarter, down from 12.80 percent for the previous year quarter. Equity to assets ratio was 12.97 percent for the quarter, down from 13.62 percent for the previous year quarter. Average equity to average assets ratio was 13.45 percent for the quarter, up from 12.63 percent for the previous year quarter. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
