Shine Resunga Development Bank reports 32.38% rise in net profit after acquisition of two development banks; Paid-up capital at Rs 2.62 arba

Shine Resunga Development Bank Limited (SHINE) has posted an increase in net profit of 32.38 percent in the first quarter of the fiscal year 2076/77.

As per the unaudited financial report for the first quarter published today, the development bank has stated that it has net profit of Rs.12.47 Crore in the Q1 up from Rs.9.63 Crore in the corresponding period of the previous fiscal year.

Its net interest income increased from Rs.20.13 Crore in Q1 2075/76 to Rs.32.75 Crore in the corresponding quarter previous year. The bank has collected deposits of Rs.26.85 Arba while it has mobilized loans and advances of Rs.23.40 Arba in Q1. The deposit and loan amount stood at Rs.18.85 Arba and Rs.15.92 Arba respectively in the previous quarter of Q4 2075/76.

SHINE has a paid-up capital of Rs.2.62 Arba and reserve of Rs.59.72 Crore.

Its Non-Performing loan (NPL) has increased to 0.45% in Q1. Its annualized Earnings per Share stands at Rs. 19.12 and net worth per share stands at Rs.146.50. Its P/E ratio stands at 13.23 times.

Shine Resunga Development Bank Limited (SHINE) upon successful acquisition of Purnima Bikas Bank Limited (PURBL) and Bhargav Bikash Bank Limited (BHBL) commenced its joint transaction in the name of Shine Resunga Development Bank Limited (SHINE) from Ashwin 27, 2076.

First Quarter Report