Siddhartha Development Bank remarkable improvement in Q4; net profit of Rs 16 crore and NPL decreases to 4.03%

ShareSansar, July 19:

Siddhartha Development Bank Limited (SDBL) has shown remarkable improvement in the fourth quarter (Q4) of the fiscal year 2071/72.

As per the press release published today, the bank has earned net profit of Rs16 crore by the end of the fourth quarter of the last fiscal year.SDBL non-performing loan has decline from 7.80 % in the 2070/71 fiscal year to 4.03% in fourth quarter of fiscal year 2071/72.

In a very short duration the bank has collected Rs. 6 arba 98 crore in deposits from 88 thousand customers.The bank loan and advances remains at Rs 5 arba 71 crore. The credit to deposit ratio (CD ratio) stand at 72.12%and liquidity ratio is at 28.70%.

The bank has 18 branch offices, 19 ATM counters more than 36 thousand ATM card holders and 850 SDBL Trust Remit network all over the country. The bank has implemented Rs. 1 arba 3 crore in its Siddhartha Retirement Fund.

Ajay Kumar Mishra, CEO of the bank said, in coming days SDBL will establish itself as a strong and successful development bank and will also provide more quality banking services to its customers.