Nepal SBI Bank posts decent profit growth

Nepal SBI Bank Limited's (SBI) net profit has up surged by 17.89% in Q1 of the fiscal year 2072/73.The commercial bank earned Rs.30.20 crore in the first quarter. The net profit was Rs.25.62 crore in the corresponding quarter of the previous fiscal year. Publishing the unaudited financial report for Q1 today, the commercial bank’s deposit collection decreased to Rs.53.95 arba  from Rs.55.06 arba in Q1 last year. It extended loans of Rs.39.85 arba, rising from Rs.37.21 arba of the corresponding quarter of the previous fiscal year. The commercial bank’s net interest income reached to Rs.56.69 crore, up from Rs.46.86 crore in Q1. Nepal SBI Bank’s paid up capital remains at Rs.3.05 arba and has a reserve of Rs.2.93 arba. The commercial bank has an operating profit of Rs.44.26 crore. Its NPL dropped to 0.18% from 0.23% in the first quarter. Nepal SBI Bank’s EPS stands at Rs.39.51. Its net worth per share is Rs.195.92, and P/E ratio is at 35.43 times.