Siddhartha Bank reports outstanding Q1: Net Profit rises by 89.50%, NPL decline to 0.54%
Sun, Oct 31, 2021 10:25 AM on Financial Analysis, Stock Market, Latest,
Siddhartha Bank Limited (SBL) has published its first-quarter report for the FY 2078/79 with an outstanding rise in net profit by 89.50%. The bank’s profit has increased from Rs 50.06 crore in the first quarter of the fiscal year 2077/78 to Rs 94.87 crore in the first quarter of the fiscal year 2078/79.
In the same quarter, the bank has Rs 29.78 crore as distributable profit after Regulatory Adjustments and PL appropriations.
The bank’s deposit from customers rises by 1.44% to Rs 1.83 kharba (compared to the immediate previous year ending) whereas loans and advances have also increased by 9.23% to Rs 1.73 kharba (compared to the immediate previous year ending) in the Q1. The net interest income (core business income) of the bank has increased by a satisfactory 30.25% to Rs 1.75 Arba from Rs 1.34 Arba of the corresponding quarter.
The bank’s paid-up capital stands at Rs 10.96 arba with Rs 9.66 arba as its reserve and surplus. The Non-Performing Loan (NPL) has decreased to 0.54% from 1.32%.
In Q1, the EPS (annualized) of the bank stands at Rs 34.62. The net worth per share stands at Rs 188.13 and qtr end PE ratio stands at 13.26 times.
Major Highlights:
| Particulars (In Rs '000") | Siddhartha Bank | ||
|---|---|---|---|
| Q1 2078/79 | Q1 2077/78 | Difference | |
| Share Capital | 10,962,299 | 10,962,299 | 0.00% |
| Share Premium | 0 | 0 | |
| Retained Earnings | 1,634,159 | 1,269,322 | 28.74% |
| Reserves | 8,026,750 | 8,033,354 | -0.08% |
| Deposits from Customers | 183,529,244 | 180,924,009 | 1.44% |
| Loans & Advances to customers | 173,174,629 | 158,541,874 | 9.23% |
| Net Interest Income | 1,750,242 | 1,343,742 | 30.25% |
| Impairment Charge/(Reversal) | 208,514 | 260,822 | -20.06% |
| Personnel Expenses | 719,374 | 500,851 | 43.63% |
| Operating Profit | 1,356,348 | 724,282 | 87.27% |
| Profit/(Loss) for the Year | 948,731 | 500,640 | 89.50% |
| Total Comprehensive Income | 294,170 | 1,227,550 | -76.04% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | 297,811 | ||
| Capital Adequacy Ratio (CAR) | 13.05 | 14.02 | -6.92% |
| NPL | 0.54 | 1.32 | -59.09% |
| Credit to Deposit Ratio (CD Ratio) | 87.75 | 81.01 | 8.32% |
| Cost of Fund (%) | 5.55 | 6.12 | -9.31% |
| Interest Rate Spread (%) | 3.47 | 4.38 | -20.78% |
| Base Rate (%) | 7.57 | 8.1 | -6.54% |
| EPS (In Rs.) | 34.62 | 18.27 | 89.50% |
| Net Worth per Share (In Rs.) | 188.13 | 184.86 | 1.77% |
| Qtr End PE Ratio (times) | 13.26 | - | - |
| Qtr End Market Price | 459 | - | - |
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