Sahara Bikas Bank (SHBL) has published its unaudited quarterly report for the first quarter of FY 2076/77. The net profit of the company increased to Rs.24.03 Lakhs from net loss of Rs.1.48 Lakhs in the previous year.
The development bank has a paid up capital of Rs.16.33 Crore. The reserves of the company saw a growth of 38.33% to stand at Rs.7.29 Crore by the end of the first quarter. The deposits currently stand at Rs.84.58 Crore while the loans and advances are worth Rs.65.22 Crore.
The company’s net interest income increased by 67.85% to Rs.99.89 Lakhs by the end of the first quarter from Rs.59.51 Lakhs in the same quarter of last fiscal year. The provision for possible losses has increased from Rs.9.99 Lakhs to Rs.15.59 Lakh this quarter.
The NPL of the company fell from 2.20% to 0.62%. Net worth per share stands at Rs.144.65 while annualized PE ratio remains at 38.16 times. The annualized EPS stands at Rs.17.64.
The company is in acquisition process by Deva Bikas Bank Limited and its trading in NEPSE has been in halt.