Shine Resunga Development Bank reports 31% growth in the net profits for the third quarter; satisfactory growth in other indicators as well

Shine Resunga Development Bank Limited (SHINE) has posted an increase in net profit of 31.07 percent in the third quarter of the fiscal year 2075/76.

As per the unaudited financial report for the third quarter published today, the development bank has stated that it has net profit of Rs.30.09 Crore in the Q3 up from Rs.23.72 Crore in the corresponding period of the previous fiscal year.

Its net interest income increased to Rs.63.98 Crore in Q3 from Rs.46.97 Crore in the corresponding quarter previous year. The bank has collected deposits of Rs.16.98 Arba while it has mobilized loans and advances of Rs.15.29 Arba in Q3. The deposit and loan amount stood at Rs.12.85 Arba and Rs.11.46 Arba respectively in the previous year corresponding quarter.

SHINE has a paid up capital of Rs.1.62 Arba and reserve of Rs.64.23 Crore.

Its Non-Performing loan (NPL) has increased to 0.19% in Q3. Its Earnings per Share stands at Rs.25.55 and net worth per share stands at Rs.139.59. Its P/E ratio stands at 9.20 times.

The bank is in acquisition process of Purnima Bikas Bank Limited.