Siddhartha Bank does it again: Net profit rises by 30% in Q3

ShareSansar, May 2:

Siddhartha Bank Limited has reported a massive net profit rise in the third quarter, too.

According to the unaudited quarterly report of the bank for the third quarter published today, the commercial bank has stated that its net profit has risen to Rs 36.37 crore, up from Rs 27.87 crore in the corresponding quarter of the last fiscal year 2069/70.

Siddhartha’s massive profit was largely propelled by its core business.

Its net interest income has surged to Rs 88.03 crore up from Rs 77.64 crore in the third quarter last fiscal year.

Siddhartha Bank had reported a huge profit rise of 108.87 percent in the second quarter.

The bank mobilized Rs 32.47 arba in deposit and Rs 25.31 arba in loan as compared to Rs 27.22 arba in deposit and Rs 22.21 arba in the corresponding quarter last year.

The bank’s non-performing loan has, however, slightly gone up from 2.45 percent in the third quarter of the last fiscal year to 3.14 percent as of now.

Its EPS (annualized) stands at Rs 26.74 and its net worth per share stands at Rs 158.03. Likewise, its P/E ratio stands 21.21 and its net assets value per share stands at Rs 2,093.25.