Prime Bank's profit upsurges by 36.47%; Sunrise also reports decent growth

Prime Commercial  Bank Limited (PCBL) has posted a  net profit growth  by 36.47% in the first quarter for the fiscal year 2072/73.The commercial bank has earned  net profit of Rs.22.05 crore in Q1 increasing from Rs.16.16 crore in the corresponding quarter of the previous fiscal year. Publishing the unaudited financial report for the first quarter today, the commercial bank has stated that it collected deposits of Rs.41.40 arba growing from Rs.34.33 arba in the corresponding quarter of the previous fiscal year. It has floated loans of Rs.32.82 arba in, up from Rs.28.31 arba in the corresponding quarter last fiscal year 2071/72. The commercial bank’s net interest income decreased to Rs.30.73 crore from Rs.33.06 crore despite an increase in interest income in Q1. Prime Bank has a paid up capital of Rs.3.14 arba and reserve and surplus stands at Rs.1.50 arba. It has an operating profit of Rs.31.42 crore. The commercial bank’s NPL dropped to 1.72 % from 2.62 %. Its EPS now stands at Rs.28.10, net worth per share at Rs.147.87, and P/E ratio at 21.32 times. Sunrise bank Limited (SRBL) has posted a net profit of Rs.11.78 crore in the 1^st quarter of the fiscal year 2072/73.The commercial bank’s net profit increased by 23.96 % in Q1 as compared to the corresponding quarter of the previous fiscal year. As per the unaudited financial report for Q1 today, the commercial bank’s deposit collection reached Rs.35.26 arba up from Rs.27.72 arba in Q1 last year. It mobilized loans of Rs.28.19 arba, rising from Rs.21.43 arba of the corresponding quarter of the previous fiscal year. The commercial bank’s net interest income elevated to Rs.28.06 crore, from Rs.23.55 crore in Q1. Sunrise Bank’s paid up capital remains at Rs.2.98 arba with reserve of Rs.54.87 crore. The commercial bank has an operating profit of Rs.15.89 crore. Its NPL dropped to 2.69 % from 4.65 % in the first quarter. Sunrise Bank’s EPS stands at Rs.15.76. Its net worth per share is Rs.119.14, and P/E ratio is at 32.93 times.