Nepal SBI reports 20.2 % profit rise in Q2 due to business growth

ShareSansar, February 5:

Nepal SBI Bank Limitedhas reported an impressive growth of 20.22 percent in its profit for the second quarter of the current fiscal year 2070/71.

Publicizing the unaudited quarterly report for the second quarter today, one of the leading commercial bank has stated that it has posted a net profit of Rs 45.90 crore in the second quarter, up from Rs 38.18 crore in the corresponding quarter last fiscal year.

Nepal SBI made much of the profit from its core business as the profit from its regular activities has gone up from 59.84 crore to 71.70 crore in the second quarter.
 
The bank’s net interest income has also risen to Rs 83.34 crore, up from Rs 76.94 crore in the second quarter of the last fiscal year.

Nepal SBI also mobilized Rs 56.44 arba in deposit and Rs 32.32 arba in loan as compared to Rs 54.09 arba in deposit and Rs 28.09 arba in the corresponding quarter last year.

The bank has also reported write back of Rs 6.28 crore that it had provisioned for possible loss.

The bank’s non-performing loan has also decreased to 0.32 percent, down from 0.43 percent in the same period of the previous fiscal year.

Its EPS stands at Rs 34.64 and its per share net worth stands at Rs 160.07.