Sahara Bikas Bank reports net profit of Rs 1.45 crore for Q2; Merger with Deva Bikas Bank suspended

Sahara Bikas Bank (SHBL) has published its unaudited quarterly report for the second quarter of FY 2076/77. The net profit of the company increased to Rs.1.45 crore from Rs.1.15 crore in the previous year.

The development bank has a paid-up capital of Rs.16.33 Crore. The reserves of the company stand at Rs.7.75 Crore by the end of the second quarter from Rs 5.87 crore. The deposits currently stand at Rs.78.02 Crore while the loans and advances are worth Rs.69.92 Crore.

The company’s net interest income increased to Rs.2.42 crore by the end of the second quarter from Rs.1.56 crore in the same quarter of the last fiscal year.

The NPL of the company fell from 1.36% to 0.66%. Net worth per share stands at Rs.144.65 while the annualized PE ratio remains at 38.16 times. The annualized EPS stands at Rs.17.64.

The company was in the acquisition process by Deva Bikas Bank Limited and its trading in NEPSE has been in halt. It has been 32 months since the transaction of SHBL had been halted in NEPSE. According to the officer at SHBL, the merger has been suspended. The trading of SHBL in NEPSE will open after the approval of Rastra Bank, which the company is yet to receive.

Second Quarter Report