Sahayogi Vikas Bank lists 5.67 lakhs bonus shares in NEPSE; profit shoots thru the roof in Q2

Sahayogi Vikas Bank Limited (SBBLJ) has registered a massive net profit rise by 240.38% in the second quarter of the fiscal year 2073/74. The development bank has earned net profit of Rs 5.65 crore in the second quarter, up from Rs 1.66 crore in the corresponding quarter of the previous fiscal year 2072/73. In the second quarter, Sahayogi Vikas Bank’s net interest income has also increased to Rs 11.35 crore in Q2 from Rs 5.23 crore in the corresponding quarter. It has a deposit base of Rs 3.32 arba and has mobilized Rs 2.83 arba in loan as compared to Rs 2.46 arba in deposit and Rs 1.78 arba in loan in the corresponding quarter last year. The bank’s Non-Performing Loan (NPL) increased to 0.75 percent from 0.11 percent in Q2. Its EPS (annualized) stands at Rs 35.98 and its net worth per share is at Rs 141.85. Its PE ratio is 10.15 times. The bank has a paid up capital of Rs 31.46 with reserve of Rs 13.16 crore. As a 1-3 district level development bank, it should increase its paid up capital to a minimum of Rs 50 crore by the end of FY 2073/74. Recently, Sahayogi Vikas Bank has cancelled merger with Sahara Bikas Bank Limited. Both development banks had signed an agreement for merger on May 17, 2016. 5.67 lakh units bonus shares listed today In addition, the bank has listed 5, 67,329 units bonus shares in Nepal Stock Exchange Limited (NEPSE) today. Now, shareholders having bonus share of the company can sell their bonus shares.