Due to provisioning of Rs 9.7 crore, Standard Chartered makes modest profit growth of 13% in Q2
Tue, Feb 11, 2014 12:00 AM on Others,
ShareSansar, February 11:
Standard Chartered Bank Nepal Limited was able to report a modest profit rise in the second quarter of the current fiscal year 2070/71 largely due to the amount it has provisioned for possible losses.
As per the unaudited second quarter report of one of the leading commercial banks published today, Standard Chartered’s net profit has increased to 63.33 crore, up from Rs 55.88 in the corresponding quarter of the last fiscal year 2069/70.
Its net interest income has surged from Rs 87.56 crore to Rs 98.25 crore by the end of the second quarter.
It mobilized Rs 40.02 arba in deposit and Rs 25.11 arba in loan as compared to Rs 37.05 crore in deposit and Rs 19.82 crore in loan in the corresponding quarter.
It provisioned Rs 9.79 crore for possible losses while it managed to write back Rs 4.96 crore by the end of the second quarter.
Standard Chartered’s non-performing loan has also decreased from 0.75 percent to 0.63 percent.
Its EPS (annualized) now stands at 62.04 and its net worth per share at 257.30.
