Nepal SBI & Laxmi Bank registers profit growth of Rs 35.44 crore & Rs 15.68 crore respectively in Q1

Nepal SBI Bank Limited (SBI) has registered profit rise of 17.32 percent in the first quarter of the current fiscal year 2073/74. According to the unaudited financial report published by the commercial bank today, its net profit has surged to Rs 35.44 crore in first quarter up from Rs 30.20 crore in the corresponding quarter of the last fiscal year 2072/73. SBI Bank’s net interest income has risen to Rs 69.345 crore in Q1 as compared to Rs 56.69 arba in the corresponding quarter. It has paid up capital of Rs 3.88 arba with reserve of Rs 3.44 arba in first quarter. The bank’s deposits collection reached to Rs 68.79 arba in Q1 from Rs 53.95 arba in the corresponding period last year. Likewise, it has extended loans and advances of Rs 52.37 arba in Q1 whereas in the same period last year the figure stood at Rs 39.85 arba. SBI Bank non-performing loan (NPL) has declined to 0.11 percent in Q1 from 0.18 percent in the previous year report. Its Earning per Share (EPS) stands at Rs 36.48, net worth per share at Rs.188.79, and the P/E ratio at 53.04  times. Also, Laxmi Bank Limited (LBL) has posted outstanding profit rise of 42.16 percent in the first quarter of the fiscal year 2073/74. According to the unaudited financial report published by the commercial bank today, its net profit has increased to Rs. 15.68 crore in first quarter up from Rs. 11.03 crore in the corresponding quarter of the previous fiscal year. Laxmi Bank’s net interest income has raised to Rs 43.96 crore in Q1 as compared to Rs. 29.21 crore in the corresponding quarter of the previous fiscal year. It has a paid up capital of Rs 3.03 arba with reserve of Rs 3.44 arba in Q1. The bank also collected huge amount of deposits of Rs 51.49 arba in Q1, up from Rs.41.36 arba in the corresponding period last year. Likewise, it has extended loans and advances of Rs. 44.64 arba in Q1 whereas in the same period last year the figure stood at Rs. 34.06 arba. Its non-performing loan increased to 1.63 percent in Q1 from 0.88 percent in the previous year report. Laxmi Bank’s Earning per Share (EPS) stands at Rs.17.88, net worth per share at Rs.210.43, and P/E ratio at 50.06 times.