Sahayogi Vikas Bank Limited (SBBLJ) has posted an astounding progress in the third quarter of the fiscal year 2073/74. It has posted a massive 188.15% increase in its net profit in the third quarter of the current fiscal year 2073/74.
According to the unaudited financial report published by the development bank today, its net profit has surged to Rs 9.29 crore in third quarter, up from Rs 3.22 crore in the corresponding quarter of the last fiscal year 2072/73. The operating profit has also increased 158.83% to Rs 12.98 crore from Rs 5.01 crore as compared to the corresponding quarter of last fiscal year.
SBBLJ has been able to increase its net interest income by 84.57% to Rs 17.85 crore. Its deposit collection has reached Rs 2.97 arba in Q3. Likewise, it has extended loans and advances of Rs 73.13 arba in Q3 whereas in the same period last year the figure stood at Rs 57.34 arba. Its CD ratio as of the end of Q3 stands at 77.04%.
Its non-performing loan has declined to 0.56 percent in Q3 from 2.85 percent in the previous year report.
Annualized Earning per share (EPS) of SBBLJ stands at Rs 39.41, net worth per share at 174.33, and P/E ratio at 11.06 times.
Book Closure for 35% right share on Baisakh
Securities Board of Nepal (SEBON) had provided final approval to Sahayogi Bikas Bank Limited (SBBLJ) for the issuance of 35% right shares on Baisakh 5, 2074. SBBLJ has announced Baisakh 15, 2074 as book closure date for the right issue.
SBBLJ will be issuing a total of 11,01,135 units right shares worth Rs 11.01 crore to its existing shareholders at Rs 100 per share. Only those shareholders holding shares one trading day ahead of the book closure date i.e. until Baisakh 14, 2074 (tomorrow) are eligible to apply for the right shares.
After the capitalization of 35% right shares, its paid up capital will reach Rs 42.47 crore. As per NRB’s directive for all 1-3 district level development banks to increase their paid up capital to a minimum of Rs 50 crore by the end of FY 2073/74, SBBLJ will need to issue a further capital hike of around 17.80%.
Major Highlights:
| Indicators (Rs in "000") |
FY 2073/74 Q3 |
FY 2072/73 Q3 |
Difference (%) |
| Paid Up Capital |
314,610 |
257,877 |
22.00% |
| Reserve and Surplus |
233,846 |
90,401 |
158.68% |
| Deposits |
2,975,014 |
2,456,966 |
21.08% |
| Loans and Advances |
2,880,334 |
1,972,226 |
46.04% |
| Net Interest Income |
178,532 |
96,728 |
84.57% |
| Provision |
30,024 |
22,167 |
- |
| Write Back |
15,622 |
535 |
- |
| Operating Profit |
129,858 |
50,172 |
158.83% |
| Net Profit |
92,980 |
32,268 |
188.15% |
| Capital Adequacy Ratio |
16.88% |
14.35% |
- |
| NPL |
0.56% |
2.85% |
-80.35% |
| Base Rate |
11.36% |
8.25% |
- |
| Cost of Fund |
7.70% |
4.85% |
|
| CD Ratio (as per NRB) |
77.04% |
71.78% |
- |
| EPS (Annualized) |
39.41 |
16.68 |
136.19% |
| PE Ratio |
11.06 |
|
|
| Networth Per Share |
174.33 |
|
|
