Siddhartha Bank Limited (SBL) has registered a 21.80% increase in its net profit in the third quarter (Q3) of the current fiscal year 2073/74.
According to the unaudited financial report published by the commercial bank today, its net profit has surged to Rs 95.70 crore in third quarter, up from Rs 78.57 crore in the corresponding quarter of the last fiscal year 2072/73. The operating profit also increased with similar rate to Rs 1.18 arba from Rs 95.51 crore as compared to the corresponding quarter of last fiscal year.
However, this increase in net profit was not enough to maintain its Earnings Per Share (EPS). Its EPS last year was Rs 42.98 in the same quarter while after the increase in its paid up capital, its EPS has now shrunk to Rs 24.30 only. SBL had issued 39% bonus share, 25% right share and had also merged with Business Universal Development Bank last year.
SBL’s net interest income has risen to Rs 1.86 arba in the third quarter as compared to Rs 1.33 arba in the corresponding quarter last year. Its deposits collection increased by a massive 41% to Rs 75.27 arba in Q3 from only Rs 53.35 arba in the corresponding period last year.
Likewise, it has also been able to increase its loans by similar figures. Up to the end of Q3, it extended loans and advances of Rs 66.26 arba whereas in the same period last year, the figure stood at Rs 44.66 arba.
Its non-performing loan has increased in this period to 1.71% in this period.
Its paid up capital now stands at Rs 5.25 arba with net worth of Rs 153.76 per share.
Major Highlights:
| Indicators (Rs in "000") |
FY 2073/74 Q3 |
FY 2072/73 Q3 |
Difference (%) |
| Paid Up Capital |
5,250,859 |
2,437,416 |
115.43% |
| Reserve and Surplus |
2,823,067 |
2,094,366 |
34.79% |
| Deposits |
75,275,857 |
53,354,327 |
41.09% |
| Loans and Advances |
66,260,371 |
44,664,858 |
48.35% |
| Net Interest Income |
1,869,418 |
1,339,864 |
39.52% |
| Provision |
375,073 |
242,966 |
- |
| Write Back |
142,246 |
149,898 |
- |
| Operating Profit |
1,184,826 |
955,163 |
24.04% |
| Net Profit |
957,014 |
785,701 |
21.80% |
| Capital Adequacy Ratio |
11.60% |
10.44% |
- |
| NPL |
1.71% |
1.16% |
47.41% |
| Base Rate |
7.67% |
6.78% |
- |
| Cost of Fund |
4.80% |
3.92% |
|
| CD Ratio (as per NRB) |
75.09% |
78.18% |
- |
| EPS (Annualized) |
24.30 |
42.98 |
-43.46% |
| PE Ratio |
31.89 |
|
|
| Networth Per Share |
153.76 |
|
|
