Growth in overall business boosts Nepal SBI Bank’s income, 20% profit rise in FY2070/71

ShareSansar, August 14:

Nepal SBI Bank has posted a healthy profit rise of 20 percent in the last fiscal year 2070/71 due to the growth in income of the bank’s overall business.
 
According to the fourth quarterly report of the bank published today, the net profit of the bank surged to Rs 92.3 crore in the last quarter, up by Rs 15.15 crore in comparison to the corresponding period of the previous fiscal year 2069/70.

 Last year, the bank earned Rs 1.74 arba as net interest income, which is Rs 12.15 crore higher than the income of previous year quarter ending.
 
The bank also managed to write back Rs 7.18 crore from the amount that it had earlier provisioned for the possible loss. Another best part of the report is that the non-performing loan (NPL) of the bank remained at 0.26 percent in the last fiscal year.

The bank provisioned Rs 8.29 crore for the possible loss.

Total deposit mobilization of the bank in the last fiscal year stood at Rs 54.49 arba, down from Rs 59.12 arba in the previous year. Similarly, it floated Rs 35.28 in loans, up from Rs 28.79 arba in the previous year.

The annualized EPS is Rs 34.83, P/E ratio 36.75 times and net worth per share of the bank is Rs 178.17.