Sanima and Agricultural Development Bank registers decent profit growth of 35.07% & 34.23% respectively

Sanima Bank Limited (SANIMA) has reported a net profit rise of 35.07 percent in the first quarter of the last fiscal year 2071/72. Publishing the unaudited quarterly report for the first quarter today, the commercial bank has stated that it has registered a net profit of Rs.17.68 crore in the first quarter of fiscal year 2072/73, up from Rs.13.09 crore in the corresponding quarter of fiscal year 2071/72. The profit is attributable to its core business as its net interest income surged from Rs.24.49 crore in the previous year to Rs.32.45 crore in Q1 of the current fiscal year. Sanima Bank collect  Rs.35.43arba in deposits and mobilized Rs.30.33 arba in loans in the first quarter of 2072/73 as compared to Rs.26.59 arba in deposit and Rs.22.83 arbain loans in the corresponding quarter of fiscal year 2071/72. The bank’s non-performing loan remains at 0.05 percent and CD ratio stands at 79.13 percent. Sanima’s annualized EPS has risen to Rs.22.68 from Rs.20.15 in the corresponding quarter and its net worth per share now stands at Rs.117.88, up from Rs.116.24 in the corresponding quarter of fiscal year 2071/72. Sanima Bank has a Paid up capital of Rs.3.08 arba and a Reserve of Rs.54.72crore at present. Agricultural Development Bank Limited (ADBL) has posted a decent net profit growth of 34.23% in Q1 of the fiscal year 2072/73.The commercial bank has earned a net profit of Rs.28.86 crore in Q1 up from Rs.21.50 crore in the corresponding quarter of the previous fiscal year. As per the unaudited financial report for the first quarter today, the commercial bank has collected deposits of Rs.79.77 arba in Q1 compared to Rs.65.47 arba in the corresponding quarter of the previous fiscal year. It has floated loans of Rs.66.38 arba . The commercial bank earned net interest income of Rs.1.09 arba in Q1 up from Rs.1.08 arba in the corresponding quarter previous fiscal year. Agricultural Development Bank’s paid up capital remains at Rs.9.86 arba(common stock of Rs.3.42 arba and irredeemable preference shares of Rs.6.44 arba) with reserve and surplus of Rs.5.26 arba. The commercial bank’s NPL dropped to 5.15% from 5.62%. ADBL’s annualized EPS stands at Rs.33.7, net worth per share at Rs.253.70, and P/E ratio at 14.80 times.