Shangri- la Development net profit soars by 157.50% in Q4; to open 5 more branches

ShareSansar, July 29:
 
Shangri-la Development Bank Limited (SADBL) has posted a massive profit growth of 157.50 percent in the fourth quarter of the last fiscal year 2071/72.

As per an unaudited financial statement published today, the bank disclosed that it achieved a net profit of Rs 19.07 crore in the fourth quarter of the fiscal year 2071/72 whereas it had earned a net profit of Rs 7.4 crore in the corresponding period of last fiscal year 2070/71.

The Bank’s operating profit stands at Rs 29.20 crore in the Q4 of last fiscal year.

Shangri-la Bank’s net interest income reached Rs 41.74 crore in Q4 the last fiscal year up from 14.21 crore in corresponding quarter of fiscal year 2070/71.  

 The Bank acquired a satisfactory growth in terms of deposit collection and loan supply in Q4.

According to Rajendra  Prasad Poudel, the CEO of the Bank said,’ The Bank mobilized Rs 8 arba 1 crore in deposits and extended Rs 6 arba 53 crore In loans in fourth quarter of fiscal year 2071/71 .

The bank had mobilized a total of Rs 6 arba 45 crore in deposits and extended Rs 5 arba 14 crore in loans in the corresponding period of the fiscal year 2070/71.

The Bank’s non operating loan stands at 0.58%, Earning per Share at Rs 25.92 and CD ratio stands at 72.19 %.

The Bank will be opening 5 more branches in Jumla-Karnali, Itahari- Purbanchal, Attariya -Sudur paschimanchal ,Gulariya- Bardiya and Imadol -Lalitpur in the near future said Rajendra Prasad Poudel, the CEO of the bank.

The Bank has 26 branches in operation till date.