Saptakoshi Development Bank’s net profit falls by 9% while that of Sahara Bikas Bank increases by 50%; EPS stands at Rs.5.76 and Rs.12.66 respectively

Saptakoshi Development Bank Limited (SKDBL) has registered a fall of 9.05% in its net profit in the third quarter of the FY 2075/76.

According to the unaudited financial report published by the development bank today, its net profit has decreased to Rs 2.26 crore in third quarter, from Rs.2.48 crore in the corresponding quarter of the fiscal year 2074/75.

SKDBL’s net interest income has risen to Rs 9.01 crore in Q3 as compared to Rs 7.08 crore in the corresponding quarter of the last fiscal year. As of Q3, it has a paid up capital of Rs 52.37 crore with a reserve of Rs 4.06 crore.

The bank also collected deposits of Rs 1.61 arba till Q3, up from Rs 1.18 arba in the corresponding period last year. Likewise, it has extended loans and advances of Rs 1.65 arba in Q3 whereas in the same period last year, the figure stood at Rs 1.22 arba.

The non-performing loan of the development bank has increased from 0.50% to 1.68% by the end of the third quarter.

SKDBL’s annualized Earnings per Share (EPS) stands at Rs 5.76 per share and has a Net worth of 107.75 per share. The bank posted an annualized PE Ratio of 21.18 times. 

The company is in merger process with Kabeli Bikas Bank Limited. 

Similarly, Sahara Bikas Bank (SHBL) has published its unaudited quarterly report for the third quarter of FY 2075/76. The net profit of the company increased by 50.28% to Rs. 2.06 crore.

The development bank has a paid up capital of Rs. 16.33 Crore. The reserves of the company saw a growth of 32.45% to stand at Rs. 5.37 Crore by the end of the third quarter. The deposits currently stand at Rs. 62.22 Crore while the loans and advances are worth Rs. 64.41 Crore.

The company’s net interest income increased by 13.33% to Rs. 2.91 crore by the end of the third quarter from Rs. 2.52 crore in the same quarter of last fiscal year. The provision for possible losses fell massively by more than 68% from Rs. 45.28 Lakhs to Rs. 14.38 Lakh.

The company posted an operating profit and a net profit of Rs. 2 crore up from Rs. 1.37 crore till the end of Chaitra of FY 2075/76.

The NPL of the company fell from 1.67% to 0.19%. Net worth per share stands at Rs. 132.91 while annualized PE ratio remains at 36.33 times. The annualized EPS stands at Rs. 12.66.

The company is in acquisition process by Deva Bikas Bank Limited.