SCB earns Rs 64.46 crore; ADBL earns Rs 53.45 crore in Q2

ShareSansar, February 12:

Standard Chartered Bank Limited (SCB) has posted a profit rise of meager 1.79 percent in the second quarter of the current fiscal year 2071/72.

According to an unaudited financial statement published today, the bank disclosed that it achieved a net profit of Rs 64.46 crore in the second quarter of the current fiscal year compared to the net profit of Rs 63.33 crore in the corresponding period of last fiscal year 2070/71.

The bank’s net interest income reached Rs 93.48 arba in the second quarter this year, which decline by 4.85 percent compared to the net interest income of the same period last year.

While the bank was required to provision Rs 6.36 crore in the second quarter this year for the possible losses and it manages to write back Rs 7.08 crore that it had provisioned in the previous years for possible losses.

Standard Chartered Bank observed a satisfactory growth in terms of deposit but the bank unable to make same growth on loan mobilization as compared to deposit growth. While the bank collected Rs 50.66 arba on deposit in the second quarter this year, it extended a total of Rs 29.45 arba on loans.

It had collected a total of Rs 40.02 arba on deposit and mobilized Rs 25.11 arba on loans in the corresponding period of the last fiscal year 2070/71.

The annualized earning per share (EPS) and the net worth per share of the bank stand at Rs 57.35 and Rs 255.10 respectively. Its NPA stands at 0.44 percent and P/E ratio is 33.48 times.

 

Agricultural Development Bank Ltd profit rises by 16.18 percent in the second quarter of the current fiscal year 2071/72.

According to the unaudited financial statement of the bank published today, its net profit rises to Rs 53.45 crore in the second quarter up from Rs 46 crore that it had posted in the corresponding period of the previous fiscal year 2070/71.

The net interest income of the bank also rises to Rs 2.33 arba from Rs 2.21 arba in the corresponding previous year quarter ending.

The bank was able to bring down its non-perform loan (NPL) by marginally to 5.14 percent from 6.05 percent.

The write back of Rs 27.88 crore from the amount it had earlier provisioned for the possible loss was also one of the main contributing factors for the profit of the bank. However, the bank provisioned huge amount i.e. 63.22 crore under provision for possible losses heading.

 

The bank, however, observed a notable growth in the deposit and loan mobilization last year. It mobilized Rs 69.07 in deposit and Rs 61.76 in loans last year, up from Rs 64.96 arba in deposit and Rs 52.69 in loans in the previous year.

Reserve and surplus of the bank also rose to Rs 6.63 arba from Rs 6.27 arba in the previous fiscal year.

Its annualized EPS is at Rs 21.34, P/E ratio 22.68 times and net worth per share stands at Rs 301.16.