Rise in core banking business leads to 43.31% increase in Siddhartha Bank Q3 profit; NPL dropped to 1.16%, EPS Rs 43

Siddhartha Bank Limited (SBL) has registered  outstanding  net profit growth by 43.31% for the third quarter (Q3) of the fiscal year 2072/73.The commercial bank has earned Rs 79.38 crore in Q3 compared to Rs 55.39 crore in the corresponding quarter of the previous fiscal year. Publishing the unaudited financial report for the third quarter today, Siddhartha Bank stated that its net interest income increased to Rs 1.33 arba in Q3 from Rs 1.01 arba in the previous fiscal year. It’s paid up capital remains at Rs 2.43 arba with reserve of Rs 2.11 arba. The write back of provision for possible losses has increased to Rs 14.98 crore from Rs 2.32 crore as compared to the Q3 of last fiscal year. Also, the non-operating income and expenses of the bank has increased to Rs 13.42 crore in Q3 from Rs 2.63 crore in the corresponding quarter. The bank has collected deposits of Rs 53.33 arba in Q3 compared to Rs 41.83 arba in the corresponding quarter last year. Likewise, it has disbursed loans of Rs 44.66 arba, up from Rs 34.97 arba. The non-performing loan (NPL) has dropped to 1.16 percent in Q3 from 2.30 percent in the corresponding quarter. Annualized earning per share (EPS) of the bank  now stands at Rs 42.98 , net worth per share at Rs 185.90 and PE ratio at 13.84 times.