Sewa Bikas Bank profit grows by 22% in Q2; Reserve & Surplus rises by 140%; Ace Dev bank profit upsurges by 76.64%; NPL at 3.87%
Tue, Feb 16, 2016 12:13 PM on Latest, Financial Analysis, Featured,
Sewa Bikas Bank Limited (SEWA) has posted a modest profit growth of 21.99 percent in the second quarter of the current fiscal year.
Publishing the unaudited financial report today, the bank stated that its net profit rose to Rs 4.08 crore in the current fiscal year 2072/73, up from Rs 3.34 crore in the corresponding period of the previous fiscal year 2071/72.
Its net interest income has risen from Rs 7.36 crore in corresponding quarter to Rs 8.96 crore in the current quarter. Sewa Bikas Bank’s paid up capital remains at Rs. 36.06 crore
The bank has collected Rs 4.36 arba in the second quarter up from Rs 3.30 arba in the corresponding quarter. Likewise, it has extended loans and advances of Rs 3.62 arba in Q2 whereas in the same period last year the figure stood at Rs 2.74 arba.
Its non-performing loan (NPL) has drop to 0.14 percent in Q2 up from 0.16 percent in the previous year report.
The bank reserve and surplus increased to Rs.22.83 crore in Q2 up from Rs 9.50 crore in last quarter, rises by 140 percent.
SEWA’s annualized earning per share (EPS) stand at Rs 11.33, net worth per share at 163.31 and the P/E ratio at 29.29 times.
Also, Ace Development Bank Limited (ACEDBL) net profit has enlarged by 76.64 % in Q2. The development bank has made a net profit of Rs 9.77 crore in Q2 increasing from 5.53 crore in the corresponding quarter of the previous fiscal year.
As per the unaudited financial report published today, the bank has reported an operating profit of Rs 9.21 crore in Q2 elevating from 4.55 crore in the corresponding quarter of the previous fiscal year.
It also mobilized Rs 7.09 arba in deposit and extended Rs 6.21 arba in loan as compared to Rs 5.91 arba in deposit and Rs 4.88 arba in loan in the corresponding quarter last year.
ACEDBL‘s net interest income increased to Rs 19.30 crore from 14.24 crore in Q2.
Ace Development Bank has a paid up capital of Rs 1 arba with the reserve of Rs 26.11 crore in Q2.
Its NPL hiked to 3.87% from 3.75% in Q2.The bank’s CD ratio increased to 77.59 % from 72.97% in Q2.
Its EPS stands at Rs. 18.93, net worth per share Rs. 125.75 and P/E ratio at 16 times.
There is a merger going to take place between Nepal Investment Bank Limited (NIB) and Ace Development Bank Limited (ACEDBL).
The merger/acquisition process between these two banks will only take place after Nepal Investment Bank floats its FPO.
Publishing the unaudited financial report today, the bank stated that its net profit rose to Rs 4.08 crore in the current fiscal year 2072/73, up from Rs 3.34 crore in the corresponding period of the previous fiscal year 2071/72.
Its net interest income has risen from Rs 7.36 crore in corresponding quarter to Rs 8.96 crore in the current quarter. Sewa Bikas Bank’s paid up capital remains at Rs. 36.06 crore
The bank has collected Rs 4.36 arba in the second quarter up from Rs 3.30 arba in the corresponding quarter. Likewise, it has extended loans and advances of Rs 3.62 arba in Q2 whereas in the same period last year the figure stood at Rs 2.74 arba.
Its non-performing loan (NPL) has drop to 0.14 percent in Q2 up from 0.16 percent in the previous year report.
The bank reserve and surplus increased to Rs.22.83 crore in Q2 up from Rs 9.50 crore in last quarter, rises by 140 percent.
SEWA’s annualized earning per share (EPS) stand at Rs 11.33, net worth per share at 163.31 and the P/E ratio at 29.29 times.
Also, Ace Development Bank Limited (ACEDBL) net profit has enlarged by 76.64 % in Q2. The development bank has made a net profit of Rs 9.77 crore in Q2 increasing from 5.53 crore in the corresponding quarter of the previous fiscal year.
As per the unaudited financial report published today, the bank has reported an operating profit of Rs 9.21 crore in Q2 elevating from 4.55 crore in the corresponding quarter of the previous fiscal year.
It also mobilized Rs 7.09 arba in deposit and extended Rs 6.21 arba in loan as compared to Rs 5.91 arba in deposit and Rs 4.88 arba in loan in the corresponding quarter last year.
ACEDBL‘s net interest income increased to Rs 19.30 crore from 14.24 crore in Q2.
Ace Development Bank has a paid up capital of Rs 1 arba with the reserve of Rs 26.11 crore in Q2.
Its NPL hiked to 3.87% from 3.75% in Q2.The bank’s CD ratio increased to 77.59 % from 72.97% in Q2.
Its EPS stands at Rs. 18.93, net worth per share Rs. 125.75 and P/E ratio at 16 times.
There is a merger going to take place between Nepal Investment Bank Limited (NIB) and Ace Development Bank Limited (ACEDBL).
The merger/acquisition process between these two banks will only take place after Nepal Investment Bank floats its FPO.
