Fall in net interest income leads to slight decline in net profit of Nepal SBI Bank by 2.15%; NPL stands at 0.17
Sun, Feb 9, 2020 8:19 AM on Financial Analysis,
Nepal SBI Bank Limited (SBI) has published its second quarter report for the FY 2076/77 today with a slight decline in net profit by 2.15%. The bank’s profit has decreased from Rs 1.02 arba in the second quarter of the fiscal year 2075/76 to Rs 1.00 arba in the second quarter of the fiscal year 2076/77. The fall in net profit is mainly due to fall in net interest income.
In the same quarter, the bank has Rs 73.66 crore as distributable profit after PL Appropriation and Regulatory Adjustments.
The bank’s deposit from customers has increased by 6.87% (compared to immediate previous year ending) to Rs 1.04 kharba and loans and advances to customers increased by 11.67% (compared to immediate previous year ending) to Rs 94.23 arba till the second quarter. The net interest income (core business income) of the bank has decreased by 8.12% to Rs 2.01 arba from Rs 2.18 arba of the corresponding quarter.
The bank’s paid up capital stands at Rs 8.44 arba with Rs 5.77 arba as its reserve and surplus. The Non-performing loan stands at 0.17%.
In the second quarter, the annualized EPS of the bank stands at Rs 23.69. The net worth per share stands at Rs 168.40 and qtr end PE ratio stands at 16.84 times.
Nepal SBI Bank proposes 16.84% dividend from the profit of FY 2075/76; 6% bonus and 10.84% cash dividend and this dividend is already endorsed by its AGM but still remains to be adjusted in the published Q2 report.
Major Highlights:
* 2075/76 figure are of Immediate Previous Year Ending.
|
Particulars (In Rs '000) |
Nepal SBI Bank |
||
|---|---|---|---|
|
Q2 2076/77 |
Q2 2075/76 |
Difference |
|
|
Paid Up Capital* |
8,449,251 |
8,449,251 |
0.00% |
|
Share Premium* |
|
|
|
|
Retained Earnings* |
1,674,321 |
1,853,743 |
-9.68% |
|
Reserves* |
4,105,110 |
3,851,456 |
6.59% |
|
Deposits from Customers* |
104,647,280 |
97,924,444 |
6.87% |
|
Loans & Advances to Customers* |
94,233,181 |
84,386,336 |
11.67% |
|
Net Interest Income |
2,010,746 |
2,188,347 |
-8.12% |
|
Fee and Commission Income |
512,305 |
470,086 |
8.98% |
|
Impairment Charge/(Reversal) |
65,752 |
146,197 |
- |
|
Personnel Expenses |
796,843 |
734,718 |
8.46% |
|
Operating Profit |
1,413,408 |
1,428,882 |
-1.08% |
|
Profit/(Loss) for the Year |
1,000,752 |
1,022,790 |
-2.15% |
|
Total Comprehensive Income |
1,007,848 |
1,010,984 |
-0.31% |
|
Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments |
736,655 |
- |
- |
|
Capital Adequacy Ratio (CAR) |
12.98 |
12.80 |
1.41% |
|
NPL |
0.17 |
0.19 |
-10.53% |
|
CCD (as per NRB Directives) |
77.6 |
77.77 |
-0.22% |
|
Cost of Fund (%) |
7.09 |
5.91 |
19.97% |
|
Base Rate (%) |
9.94 |
9.82 |
1.22% |
|
Annualized EPS (In Rs.) |
23.69 |
24.21 |
-2.15% |
|
Net Worth per Share (In Rs.) |
168.40 |
167.52 |
0.52% |
|
Qtr End PE Ratio (times) |
16.84 |
- |
- |
|
Qtr End Market Price* |
399 |
- |
- |
|
Price to Book (PB Ratio) |
2.37 |
- |
- |
.png)
