Siddhartha Bank profit decline by meager 7.30% to Rs 2.09 arba in Q4; distributable profit stands at Rs 86.64 crore
Mon, Aug 10, 2020 6:22 AM on Company Analysis, Latest,
Siddhartha Bank Limited (SBL) has published its fourth-quarter report for the FY 2076/77 with a 7.30% decline in the net profit. The bank’s profit has decreased from Rs 2.25 arba in the fourth quarter of the fiscal year 2075/76 to Rs 2.09 arba in the fourth quarter of the fiscal year 2076/77.
In the same quarter, the bank has Rs 86.64 crore as distributable profit after Regulatory Adjustments and PL appropriations which can be utilized in distributing dividends to its shareholders. This means SBL can distribute around 9% (approx.) dividends from the earnings of FY 2076/77 if other regulatory requirements are not required. However, as per NRB circular, the interest amount which cannot be recovered in Q4 of 2076/77 can be shown in this year's balance sheet if it is recovered till Q1 of FY 2077/78. So the dividend figure might be changed.
The bank’s deposit from customers rises by 21.48% to Rs 1.39 kharba whereas loans and advances have also increased by 17.71% to Rs 1.23 kharba in the Q4. The net interest income (core business income) of the bank has increased by satisfactory 19.72% to Rs 5.58 arba from Rs 4.66 arba of the corresponding quarter.
The bank’s paid-up capital stands at Rs 9.78 arba with Rs 6.18 arba as its reserve and surplus. The Non-Performing Loan (NPL) has increased to 1.56%.
In the Q4, the EPS of the bank stands at Rs 21.38. The net worth per share stands at Rs 163.22 and qtr end PE ratio stands at 13.84 times.
Major Highlights:
|
Particulars (In Rs '000) |
Siddhartha Bank Limited |
||
|---|---|---|---|
|
Q4 2076/77 |
Q4 2075/76 |
Difference |
|
|
Paid Up Capital |
9,787,767 |
8,887,605 |
10.13% |
|
Share Premium |
0 |
122,092 |
|
|
Retained Earnings |
944,687 |
1,801,401 |
-47.56% |
|
Reserves |
5,243,364 |
4,219,938 |
24.25% |
|
Deposits from Customers |
139,609,498 |
114,923,368 |
21.48% |
|
Loans & Advances to Customers |
123,448,090 |
104,876,300 |
17.71% |
|
Net Interest Income |
5,587,910 |
4,667,328 |
19.72% |
|
Fee and Commission Income |
1,073,839 |
1,016,548 |
5.64% |
|
Impairment Charge/(Reversal) |
727,817 |
188,117 |
- |
|
Personnel Expenses |
2,236,953 |
1,689,202 |
32.43% |
|
Operating Profit |
3,065,642 |
3,283,704 |
-6.64% |
|
Profit/(Loss) for the Year |
2,092,771 |
2,257,688 |
-7.30% |
|
Total Comprehensive Income |
2,343,543 |
2,022,364 |
15.88% |
|
Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments |
866,485 |
- |
- |
|
Capital Adequacy Ratio (CAR) |
12.97 |
12.77 |
1.57% |
|
NPL |
1.56 |
0.75 |
108.00% |
|
CCD (as per NRB Directives) |
72.85 |
76.85 |
-5.20% |
|
Cost of Fund (%) |
6.59 |
7.54 |
-12.60% |
|
Base Rate (%) |
9.03 |
10.57 |
-14.57% |
|
EPS (In Rs.) |
21.38 |
25.40 |
-15.83% |
|
Net Worth per Share (In Rs.) |
163.22 |
169.12 |
-3.49% |
|
Qtr End PE Ratio (times) |
13.84 |
- |
- |
|
Qtr End Market Price* |
296 |
- |
- |
|
Price to Book (PB Ratio) |
1.81 |
- |
- |
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