Siddhartha Bank hits all the right notes in the fiscal year 2074/75; Outstanding financial performance reports distributable profit of Rs 1.85 arba

Mon, Aug 6, 2018 2:46 AM on Financial Analysis, Stock Market, Latest,

Siddhartha Bank Limited (SBL) has published its fourth quarter report based on the Nepal Financial Reporting Standards (NFRS). The bank has reported a rise in the net profit by 19.99% in the fourth quarter of the fiscal year 2074/75.

The bank’s profit has increased from 2.04 arba in the fourth quarter of the fiscal year 2073/74 to Rs 2.45 arba in the fourth quarter of the fiscal year 2074/75. In the last quarter of the FY 2074/75, the bank has Rs 1.85 arba as Free Profit after Regulatory Adjustments which can be utilized in distributing dividends to its shareholders.

The bank’s deposit has high growth rate of 31.46% to Rs 1.01 kharba and loans and advances have also increased by 28.29% to Rs 86.13 arba in the last quarter.The borrowings of the bank have increased to Rs 97.22 crore from Rs 50.57 crore. The net interest income of the bank has also increased to Rs 3.51 arba from Rs 2.62 arba of the corresponding quarter.

The bank’s paid up capital stands at Rs 8.46 arba with Rs 5.85 arba as its reserve.

The Non-Performing Loan (NPL) has also decreased to 1.05% from 1.15%.

In the fourth quarter, the EPS of the bank stands at Rs 29.06. The net worth per share stands at Rs 169.12.

Major Highlights: 

Particulars (In Rs '000)

SBL

Q4 2074/75

Q4 2073/74

Difference

Paid Up Capital

8,464,385

6,628,879

27.69%

Reserve & Surplus

5,850,903

4,954,806

18.09%

Deposits

101,748,243

77,400,099

31.46%

Borrowings

972,289

505,714

92.26%

Loans & Advances

86,133,315

67,137,262

28.29%

Net Interest Income

3,513,846

2,627,137

33.75%

Operating Profit

3,254,645

2,419,882

34.50%

Net Profit

2,459,731

2,049,911

19.99%

Total Comprehensive Income afterShare of NCI

1,962,279

2,209,789

-11.20%

Add/ Less: Regulatory adjustment as per NRB

(604,931)

(663,735)

-8.86%

Free Profit/ (Loss) after Regulatory Adjustments

1,854,800

1,386,176

33.81%

NPL

1.05

1.15

-8.70%

Annualized EPS (In Rs.)

29.06

30.92

-6.03%

Net Worth per Share (In Rs.)

169.12

174.75

-3.22%