Sahayogi Vikas Bank reports 1.17% growth in net profit till Q2 2076/77; Net profit at Rs 5.62 crore

Sahayogi Vikas Bank Limited (SBBLJ) has posted a rise of 1.17% in its profit in the second quarter of the fiscal year 2076/77.

According to the unaudited financial report published by the development bank, its net profit stands at Rs.5.62 Crore in the second quarter, up from Rs.5.55 Crore in the corresponding quarter of the last fiscal year 2075/76.

SBBLJ's net interest income has increased to Rs.12.11 Crore from Rs.11.08 Crore last year in the corresponding period. Its deposit collection has reached Rs.4.77 Arba in Q2. Likewise, it has extended loans and advances of Rs.4.10 Arba in Q2 whereas in the same period last year the figure stood at Rs.3.76 Arba.

The paid-up capital of the development bank stands at Rs.50.96 Crore with reserves and a surplus of Rs.12.25 Crore. Its non-performing loan has fallen to 1.32% in Q2 from 1.63% in the previous year's report.

Annualized Earnings per share (EPS) of SBBLJ stands at Rs.22.06 and net worth per share at Rs.160.68 as of the end of the second quarter. The bank posted a PE Ratio of 8.93 times.

The company is in the acquisition process by Citizens Bank International Limited.

Second Quarter Report