Sahayogi Vikas Bank changes track from profit to loss of Rs 1.01 crore

Sahayogi Vikas Bank limited (SBBLJ) has shown net loss of 165.64% in the first quarter of the fiscal year 2074/75. As per the unaudited report as published in newspaper today, the development bank has posted a net loss of Rs 1.01 crore in the first quarter, down from Rs 1.55 crore in the corresponding quarter of the previous fiscal year 2073/74. In the first quarter, SBBLJ net interest income has decreased to Rs 3.20 crore from Rs 4.64 crore in the corresponding quarter. It has collected Rs 3.36 arba in deposit and mobilized Rs 2.71 arba in loan as compared to Rs 2.91 arba in deposit and Rs 2.57 arba in loan in the corresponding quarter last year. Its current paid up capital stands at Rs 42.47 crore with reserve of Rs 19.97 crore. To meet the capital requirement as per Nepal Rastra Bank (NRB) it should hike its capital by Rs 7.53 crore (around 17.73%). And for this, it has announced 20% bonus shares and 4.5% cash dividends to its shareholders from the net profit of FY 2073/74. The bank’s Non-Performing Loan (NPL) has also peaks to 2.82 percent from 1.36 percent in the same period of the previous fiscal year. Its net worth per share stands priced at Rs 147.04. Click here to see announcement: