Siddhartha Development Bank Limited (SDBL) has registered profit rise of 46.89 percent in the third quarter (Q3) of the current fiscal year 2073/74.
According to the unaudited financial report published by the development bank today, its net profit has surged to Rs 28.83 crore in third quarter, up 46.89% from Rs 19.62 crore in the corresponding quarter of the last fiscal year 2072/73. The operating profit increased to Rs 44.25 crore from Rs 31.89 crore as compared to the corresponding quarter of last fiscal year.
SDBL’s net interest income has risen to Rs 58.45 crore in the third quarter as compared to Rs 30.67 crore in the corresponding quarter. The bank also amassed huge amount of deposits in the Q3 of the ongoing fiscal year. Deposits collection reached Rs 13.69 arba in Q3 from only Rs 8.34 arba in the corresponding period last year.
Likewise, it has extended loans and advances of Rs 12.15 arba in Q3 whereas in the same period last year, the figure stood at Rs 7.38 arba.
Its non-performing loan has slightly declined to 2.42 percent in Q3 from 2.45 percent in the previous year’s report.
Annualized Earning per share (EPS) of SDBL stands at Rs 27.09 and net worth per share is at Rs 149.28. Its paid up capital and reserves remains at Rs 1.41 arba and Rs 69.93 crore respectively. SDBL is
floating 60% right shares from Baisakh 7, after the capitalization of which, its paid up capital will reach Rs 2.27 arba.
SDBL is currently under acquisition process by Janata Bank Nepal Limited.
Major Highlights:
| Indicators (Rs in "000") |
FY 2073/74 Q3 |
FY 2072/73 Q3 |
Difference (%) |
| Paid Up Capital |
1,419,168 |
715,950 |
98.22% |
| Reserve and Surplus |
699,397 |
302,879 |
130.92% |
| Deposits |
13,694,544 |
8,344,527 |
64.11% |
| Loans and Advances |
12,154,180 |
7,383,850 |
64.60% |
| Net Interest Income |
584,557 |
306,783 |
90.54% |
| Provision |
22,038 |
(75,935) |
- |
| Write Back |
- |
- |
- |
| Operating Profit |
442,560 |
318,968 |
38.75% |
| Net Profit |
288,318 |
196,279 |
46.89% |
| Capital Adequacy Ratio |
15.48% |
11.93% |
- |
| NPL |
2.42% |
2.45% |
-1.22% |
| Base Rate |
10.89% |
7.81% |
- |
| Cost of Fund |
7.22% |
4.53% |
|
| CD Ratio (as per NRB) |
76.90% |
79.07% |
- |
| EPS (Annualized) |
27.09 |
36.55 |
-25.90% |
| PE Ratio |
10.96 |
|
|
| Networth Per Share |
149.28 |
|
|
