Siddhartha Bank profit surges by 43%; Janata Bank earns mere Rs 2.13 crore in Q1

ShareSansar, November 11:

Publishing the unaudited financial quarterly report today, Siddhartha Bank Limited stated that it’s earned Rs 14.81 crore in Q1, up from Rs 10.35 crore in the corresponding; which is an increment of 43 percent than previous year first quarter.

Net interest income of the bank increased to Rs. 29.56 crore, up from Rs 22.68 crore in the previous year.  

The bank mobilized Rs 36.46 arba in deposits and extended a total of Rs 29.01 arba on loans and advances compared to Rs. 29.15 arba deposits and Rs 23.48 arba loans in the previous fiscal year.

The bank has provisioned Rs 4.67 crore for the possible losses.

There is a decrease in the Non-performing loan (NPL) of the bank. It comes down to 2.74 percent from 3.06 percent in the previous year.  

Siddhartha Bank annualized EPS is at Rs 28.39, while its P/E ratio stands at 24.69 times and its net worth per share at Rs 154.84.

Similarly, Janata Bank Nepal Limited (JBNL) earns net profit of Rs 2.13 crore in the first quarter of the FY 2071/72.  The bank was in loss of Rs 5.98 crore in same period of previous fiscal year.

Its Net Interest Income stands at Rs 13.85 crore compared to Rs 11.19 crore of last fiscal year which signal that there is a less growth in the core business of the bank.

Deposits and loans are Rs 19.83 arba and Rs 17.25 arba respectively.

The bank managed to write back Rs 5.38 crore from the amount earlier provisioned for the possible losses. It also provisioned Rs 10.16 crore for the possible losses in the given period.

Its NPA is 1.08%, annualized EPS stands at Rs 4.15 and net worth per share is Rs 108.18.

The company has not proposed any dividend to its shareholders from the profit it made in the FY 2070/71.