Civil Bank profit goes up 103%; Sunrise Bank’s drops by Rs 35.95 lakh

ShareSansar, August 17:

Civil Bank Ltd posted a massive profit growth of 103 percent in the fourth quarter of the last fiscal year 2070/71 due to the integration of the profit loss account of Axis Development Bank and Civil Merchant Finance in its final report.

Civil Bank Ltd, Axis and Civil Merchant have started a joint operation following the merger between these three entities.

 Publishing the unaudited financial results on Sunday, the bank stated that it’s net profit jumped to Rs 24.62 crore compared to the net profit of Rs 12.13 crore that it had earned in the corresponding period of the previous fiscal year 2069/70.

The bank achieved the net interest income of Rs 61.28 crore last year, up from Rs 44.03 crore in the previous year.  

The bank was able to write back Rs 23.24 crore from the amount that it had provisioned earlier for the possible loss while it provisioned Rs 26.75 last year for the possible loss.

The bank mobilized Rs 22.03 arba in deposit and Rs 18.67 in loan last year, up from Rs 15.63 arba in deposit and Rs 20.7 arba in loan in the previous fiscal year.

Its EPS is Rs 9.12, P/E ratio 36.17 times and net worth per share Rs 114.32.


Net profit of Sunrise Bank Ltd, however, went down by Rs 35.95 lakh in the fourth quarter of the last fiscal year.

According to the unaudited financial results of the bank, it’s net profit dropped to Rs 30.8 crore last year from Rs 31.16 in the corresponding period of the previous fiscal year 2069/70.

Though it earned Rs 1.09 arba as net interest income and Rs 93.51 crore from the write back of provision for possible loss, it provisioned Rs 37.43 crore last year for the possible loss.   

It’s non-performing loan (NPL) also went up to 4.51 percent from 3.74 percent in the previous year.