Saptakoshi Development Bank report slight improvement in Q2; Net profit reaches Rs 1.46 crore

Fri, Jan 25, 2019 7:51 AM on Latest, Stock Market,

Saptakoshi Development Bank Limited (SKDBL) has registered a growth of 33.86% in its net profit in the second quarter of the FY 2075/76.

According to the unaudited financial report published by the development bank today, its net profit has increased to Rs 1.46 crore in second quarter, from Rs.1.09 crore in the corresponding quarter of the fiscal year 2074/75.

SKDBL’s net interest income has risen to Rs 5.79 crore in Q2 as compared to Rs 4.01 crore in the corresponding quarter of the last fiscal year. As of Q2, it has a paid up capital of Rs 50.81 crore with a reserve of Rs 4.78 crore.

The bank also collected deposits of Rs 1.55 arba till Q2, up from Rs 1.16 arba in the corresponding period last year. Likewise, it has extended loans and advances of Rs 1.46 arba in Q2 whereas in the same period last year, the figure stood at Rs 1.05 arba.

SKDBL’s annualized Earnings per Share (EPS) stands at Rs 5.75 per share and has a Net worth of 109.41 per share.

Saptakoshi Development Bank and Kabeli Bikas Bank agree to form the biggest provincial Bank in Province 1; merged entity to be called Saptakoshi Development Bank

Major Highlights:

Particulars (In Rs '000)

SKDBL

Q2 2075/76

Q2 2074/75

Difference

Paid Up Capital

508,510

485,300

4.78%

Reserve & Surplus

47,862

33,216

44.09%

Deposits

1,554,155

1,161,749

33.78%

Borrowings

-

-

-

Loans & Advances

1,466,212

1,054,272

39.07%

Net Interest Income

57,915

40,195

44.09%

Provision for possible losses

26,484

19,811

33.68%

Operating Profit

3,365

2,303

46.11%

Net Profit

14,607

10,912

33.86%

NPL (%)

1.31

0.96

36.46%

Annualized EPS (In Rs.)

5.75

4.50

27.75%

Net Worth per Share (In Rs.)

109.41

106.84

2.40%