Siddhartha Bank’s NPL drops to 1.72%; profit rises 18.66%

Siddhartha Bank Limited (SBL) has posted net profit increment of 18.66% in the 1^st quarter of the fiscal year 2072/73.The commercial bank has posted a net profit of Rs.17.57crore in Q1 up from Rs.14.81 crore in the corresponding quarter of the previous fiscal year. As per the unaudited financial report for the first quarter published today, the commercial bank’s deposit collection has reached Rs.45 arba from Rs.36.46 arba in the corresponding quarter of the previous fiscal year. It floated loans of Rs.38.12 arba, rising from Rs.29.01 arba. The bank’s net interest income elevated from Rs.29.56 crore to Rs.36.01 crore in Q1. Siddhartha Bank has a paid up capital of Rs.2.43 arba and reserve of Rs.1.49 arba. The commercial bank has an operating profit of Rs.25.88 crore. Its NPL dropped to 1.72% from 2.74% in the first quarter. Siddhartha Bank’s annualized EPS now stands at Rs.28.23. Its net worth per share is Rs.160.75, and P/E ratio is at 25.57 times.