Shangri-La Dev Bank earns operating profit of Rs 35 cr till date; to auction 9.67 lakh units promoter share

Shangri-La Development Bank Limited (SADBL) has posted progressive profit by the end of the fiscal year 2072/73. The development bank has earned an operating profit of Rs 35 crore by the end of FY 2072/73.It has collected huge deposits of Rs 10.36 arba and disbursed loan of Rs 9.15 arba. The deposits and loan amount of the development bank has increased by 29.34% and 40% respectively as compared to the previous year report of FY 2071/72. Its NPL remains at 0.54% and PE ratio is at 22.41 times. Shangri-La Development Bank has already issued 4:1(25%) ratio. Dinesh Thakali, Deputy CEO of the development bank said, ‘The bank will be auctioning unsold 9.67 lakh units promoter right share.’ The bank had distributed 20.85% bonus share to its shareholders from the net profit it earned in FY 2071/72. After the bonus share distribution the paid up capital will reach Rs 1.7 arba. At present the bank is providing services through 31 branches and 12 ATM counters along with mobile banking services.