Higher write back propelled improvement in profit of Siddhartha Dev. Bank by 111.70% in Q3; Ekata Bikash Bank earning surges by 48.51%
Wed, Apr 27, 2016 11:27 AM on Latest, Financial Analysis, Featured,
Kathmandu based Siddhartha Development Bank Limited (SDBL) has shown remarkable growth of 111.70 percent in the third quarter (Q3) of the current fiscal year 2072/73.
As per the quarterly report published today, the bank has earned net profit of Rs 19.62 crore in the third quarter of the fiscal year 2072/73 up from Rs 9.27 crore in the corresponding period of the previous fiscal year 2071/72.
The write back of provision for possible losses has increased to Rs14.99 crore from Rs 9.53 crore as compared to the Q3 of last fiscal year. The higher write back has propelled increase in the net profit of SDBL.
The bank’s net interest income surged to Rs 30.67 crore in the Q3, from Rs 23.49 crore in the corresponding quarter of the previous fiscal year. The paid up capital of the bank remains at Rs 71.59 crore.
The bank has collected Rs. 8.34 arba in deposits in Q3 up from Rs 6.33 aba in the same quarter of previous year. The bank loan and advances boosted to Rs 7.17 arba in the current fiscal year up from Rs 4.99 arba in the corresponding period of the previous fiscal year.
SDBL non-performing loan (NPL) has dropped from 6.40 % in the corresponding period of the fiscal year 2071/72 to 2.45% in third quarter of the fiscal year 2072/73.
Its annualized Earning per Share (EPS) stood at Rs 36.55 and net worth per share at Rs. 142.30.
Likewise, Butwal based Ekata Bikas Bank Limited (EKBL) has reported increase in net profit of 48.51 percent in the third quarter of the current fiscal year 2072/73.
According to the unaudited financial report published by the development bank on today, its net profit has inclined to Rs 4.79 crore in third quarter from Rs 3.22 crore in the corresponding quarter of the last fiscal year 2071/72.
Its net interest income increased to Rs. 9.38 crore in the third quarter from Rs.6.64 crore in the corresponding quarter. It’s paid up capital remains at Rs. 22.77 crore.
The bank collected deposits of Rs. 2.88 arba in Q3, up from Rs. 1.96 crore in the corresponding period last year.
Likewise, it has extended loans and advances of Rs. 2.31 arba in Q3. In the same period of last year the figure stood at Rs. 1.62 arba.
Its NPL drop to 0.03 percent in Q2 from 0.14 percent in the previous year report.
Ekata’s annualized EPS stands at Rs. 28.07 and net worth per share at Rs133.11.
Siddhartha Development Bank , Ekata Bikas Bank and Nepal Aawas Finance have signed a memorandum of understanding (MoU) to enter into a merger process.
The write back of provision for possible losses has increased to Rs14.99 crore from Rs 9.53 crore as compared to the Q3 of last fiscal year. The higher write back has propelled increase in the net profit of SDBL.
The bank’s net interest income surged to Rs 30.67 crore in the Q3, from Rs 23.49 crore in the corresponding quarter of the previous fiscal year. The paid up capital of the bank remains at Rs 71.59 crore.
The bank has collected Rs. 8.34 arba in deposits in Q3 up from Rs 6.33 aba in the same quarter of previous year. The bank loan and advances boosted to Rs 7.17 arba in the current fiscal year up from Rs 4.99 arba in the corresponding period of the previous fiscal year.
SDBL non-performing loan (NPL) has dropped from 6.40 % in the corresponding period of the fiscal year 2071/72 to 2.45% in third quarter of the fiscal year 2072/73.
Its annualized Earning per Share (EPS) stood at Rs 36.55 and net worth per share at Rs. 142.30.
Likewise, Butwal based Ekata Bikas Bank Limited (EKBL) has reported increase in net profit of 48.51 percent in the third quarter of the current fiscal year 2072/73.
According to the unaudited financial report published by the development bank on today, its net profit has inclined to Rs 4.79 crore in third quarter from Rs 3.22 crore in the corresponding quarter of the last fiscal year 2071/72.
Its net interest income increased to Rs. 9.38 crore in the third quarter from Rs.6.64 crore in the corresponding quarter. It’s paid up capital remains at Rs. 22.77 crore.
The bank collected deposits of Rs. 2.88 arba in Q3, up from Rs. 1.96 crore in the corresponding period last year.
Likewise, it has extended loans and advances of Rs. 2.31 arba in Q3. In the same period of last year the figure stood at Rs. 1.62 arba.
Its NPL drop to 0.03 percent in Q2 from 0.14 percent in the previous year report.
Ekata’s annualized EPS stands at Rs. 28.07 and net worth per share at Rs133.11.
Siddhartha Development Bank , Ekata Bikas Bank and Nepal Aawas Finance have signed a memorandum of understanding (MoU) to enter into a merger process.
