Net profit of Nepal SBI bank improved by 22.81%

ShareSansar, May 9:

Nepal SBI Bank Limited reported 22.81 percent increase in its net profit for the third quarter of the current fiscal year 2070/71.

Publishing the unaudited financial report for the third quarter today, the bank has stated that its net profit has increased to Rs 67.47 crore up from Rs 54.94 crore as compared to the corresponding quarter of the last fiscal year 2069/70.

The net profit was mainly fueled by the core business of the bank as the net interest income rose to Rs 1.27 arba from Rs 1.18 arba in this quarter.

The commercial bank has a slight decrease in deposits to Rs 51.43 arba as compared to the corresponding quarter which was Rs 53.66 arba whereas, the loan reached to Rs 33.59 arba in the third quarter compared to Rs 28.55 arba in the corresponding quarter.

Its non performing loan has also dipped from 0.48 percent in the corresponding quarter of last year to 0.35 percent in the third quarter this fiscal year.

Nepal SBI’s EPS stands at Rs 33.95, the per share net worth at Rs 168.32 and the P/E ratio is 29.16 times.