Despite of 21.19% rise in net interest income, net profit of Siddhartha Bank decline by 4.01% in Q2; impairment charge stands at Rs 52.37 crore
Fri, Jan 24, 2020 5:05 PM on Financial Analysis, Stock Market, Latest,
Siddhartha Bank Limited (SBL) has published its second quarter report for the FY 2076/77 today with slight decline in net profit by 4.01%.
The bank’s profit has decline from Rs 1.06 arba in the second quarter of the fiscal year 2075/76 to Rs 1.02 arba in the second quarter of the fiscal year 2076/77. In the same quarter, the bank has Rs 57.49 crore as distributable profit after PL Appropriation and Regulatory Adjustments.
The bank’s deposit from customers has increased by 10.11% (Compared to Immediate Previous Year Ending) to Rs 1.26 kharba and loans and advances to customers also increased by 12.86% (Compared to Immediate Previous Year Ending) to Rs 1.18 kharba till the second quarter. The net interest income (core business income) of the bank has increased by 21.19% to Rs 2.77 arba from Rs 2.28 arba of the corresponding quarter.
The bank’s paid up capital stands at Rs 9.78 arba with Rs 4.96 arba as its reserve and surplus.
The Non-Performing Loan (NPL) has slightly decline to 1.55% from 1.64%.
In the second quarter, the annualized EPS of the bank stands at Rs 20.98. The net worth per share stands at Rs 150.72 and qtr end PE ratio stands at 15.06 times.
Major Highlights:
* 2075/76 figure are of Immediate Previous Year Ending.
* Published EPS, Networth and PE may differ. As per NFRS standard, Weighted average number of shares is taken while calculating EPS, Networth and PE but we have taken number of shares as per Q2 end paid up capital.
|
Particulars (In Rs '000) |
Siddhartha Bank |
||
|---|---|---|---|
|
Q2 2076/77 |
Q2 2075/76 |
Difference |
|
|
Share Capital* |
9,787,767 |
8,887,605 |
10.13% |
|
Share Premium* |
- |
122,092 |
- |
|
Retained Earnings* |
1,105,721 |
1,801,401 |
-38.62% |
|
Reserves* |
3,858,495 |
4,219,938 |
-8.57% |
|
Deposits from Customers* |
126,545,076 |
114,923,368 |
10.11% |
|
Loans & Advances to customers* |
118,364,250 |
104,876,300 |
12.86% |
|
Net Interest Income |
2,773,834 |
2,288,837 |
21.19% |
|
Impairment Charge/(Reversal) |
-523,706 |
-334,169 |
- |
|
Personnel Expenses |
1,036,857 |
715,044 |
45.01% |
|
Operating Profit |
1,520,599 |
1,521,943 |
-0.09% |
|
Profit/(Loss) for the Year |
1,026,549 |
1,069,444 |
-4.01% |
|
Total Comprehensive Income |
1,096,425 |
1,072,698 |
2.21% |
|
Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments |
574,916 |
- |
- |
|
Capital Adequacy Ratio (CAR) |
12.86 |
13.16 |
-2.28% |
|
NPL |
1.55 |
1.64 |
-5.49% |
|
CCD (as per NRB Directives) |
78.41 |
78.77 |
-0.46% |
|
Cost of Fund (%) |
7.27 |
7.42 |
-2.02% |
|
Base Rate (%) |
10.04 |
10.59 |
-5.19% |
|
Annualized EPS (In Rs.) |
20.98 |
24.07 |
-12.84% |
|
Net Worth per Share (In Rs.) |
150.72 |
169.12 |
-10.88% |
|
Qtr End PE Ratio (times) |
15.06 |
- |
- |
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