Decline in core business revenue leads to fall of 54.14% net profit of Nepal SBI in Q1; Annualized EPS at Rs. 8.95; Net worth per share at Rs. 167.23

Fri, Nov 13, 2020 7:51 AM on Latest, Company Analysis,

Nepal SBI Bank Limited (SBI) has published its first-quarter report for the FY 2077/2078 with a decline in Net Profit by 54.14%. The bank’s net profit declined to Rs. 20.05 crores in this quarter from Rs. 43.72 crores of FY 2076/2077.

As per the quarterly report, the company’s operating profit decreased by 54.26% to Rs. 28.54 crores in first-quarter compared to the corresponding quarter of the previous year. The bank has Rs. 2.58 crores as distributable profit after P/L appropriation and regulatory requirements in this quarter.

The bank has a deposit of Rs. 1.12 kharba which is an increase of 1.73% in this quarter. On the other hand, the loans and advances decreased to Rs. 86.94 Arba. The net interest income of the bank declined by 42.22% to Rs. 59.85 crores compared to the corresponding quarter of the previous year.

The bank’s paid-up capital stood at Rs. 8.95 Arba with Rs. 6.02 Arba as its reserves and surplus. The Non-performing loan (NPL) increased to 0.25%.

The annualized EPS for the bank stood at Rs. 8.95. The Net worth per share stands at Rs. 167.23. The stock for the period traded at a P/B multiple of 2.47 times.

Click here for the Q1 report

Financial Highlights:

Particulars

Nepal SBI Bank Limited

Q1, 2077/2078

Q1, 2076/2077

Difference

Paid-Up Capital

8,956,028.88

8,956,205.55

-

Share Premium

0.00

0.00

-

Retained Earnings

1,438,028.88

1,412,449.16

1.81%

Reserves

4,583,417.15

4,376,697.43

4.72%

Deposits from Customers

112,361,847.76

110,445,872.82

1.73%

Loans & Advances to Customers

86,943,284.42

89,615,499.85

-2.98%

Net Interest Income

598,542.80

1,035,875.09

-42.22%

Fee and Commission Income

222,608.35

247,635.39

-10.11%

Impairment Charge/ (Reversal)

-14,770.18

45,512.00

-

Personnel Expenses

398,354.39

433,472.17

-8.10%

Operating Profit

285,439.74

624,065.51

-54.26%

Profit/ (Loss) for the period

200,502.23

437,230.98

-54.14%

Total Comprehensive Income

229,366.42

429,707.23

-

Distributable Profit/(Loss) after P/L appropriation and Regulatory Adjustments

25,830.49

-

-

Capital Adequacy Ratio (CAR) (%)

15.27%

13.69%

-

Non-Performing Loan (NPL)

0.25%

0.17%

-

CCD (as per NRB Directive)

66.33%

78.58%

-

Cost of Fund (%)

6.19%

7.17%

-

Base Rate (%)

8.37%

9.94%

-

Annualized EPS (Rs.)

8.95

19.53

-54.14%

Net Worth per share (Rs.)

167.23

164.64

1.58%

Qtr End PE Ratio (Rs.)

46.12

-

-

Qtr End Market Price

413

-

-

Price to Book (PB Ratio)

2.47

-

-