Siddhartha & Sajha Bikas Bank earns Rs 5.6 crore & Rs 50.37 lakh respectively in Q1

Siddhartha Development Bank Limited (SDBL) has shown astounding profit rise by 67.24% in the first quarter of the fiscal year 2073/74. As per the first quarterly report published by the development bank today, the development bank has earned net profit of Rs 5.76 crore in the first quarter of the fiscal year 2073/74 up from Rs 3.44 crore in the corresponding period of the previous fiscal year 2072/73. The bank’s net interest income surged to Rs 16.90 crore in the Q1, from Rs 6.42 crore in the corresponding quarter of the previous fiscal year. Siddhartha Development Bank has collected Rs. 12.65 arba in deposits. It has disbursed loan and advances of Rs11.11 arba in Q1. The deposits and loan amount stood at Rs7.07 arba and Rs 5.95 arba in the corresponding period of the previous fiscal year. The paid up capital of the development bank remains at Rs 1.41arba with reserve of Rs 28.87 crore. SDBL non-performing loan has dropped to 3.21 % from 3.59% in Q1of the FY 2073/74. Its annualized Earning per Share (EPS) stood at Rs 16.25, net worth per share at Rs 120.35 and P/E ratio at 31.82 times. Likewise, Sajha Bikas Bank Limited (SAJHA) has posted net profit of Rs 50.37 lakh in the first quarter of the fiscal year 2073/74. The development bank’s was in loss of Rs 48.62 lakh in the corresponding quarter of the previous fiscal year. As per the first quarterly report published by the development bank today, it stated that its net interest income surged to Rs 56.31 lakh in the Q1, increasing from Rs 28.50 lakh in the corresponding quarter of the previous fiscal year. Sajha Bikas Bank has collected Rs. 48.44 crore in deposits in Q1 compared to Rs 36.79 crore in the previous year corresponding quarter. Likewise it has disbursed loan and advances of Rs 38.55 crore compared to Rs 31.44 crore of previous year corresponding quarter. The paid up capital of the development bank remains at Rs 10 crore. It has negative reserve of Rs 2.49 crore. Its non-performing loan has increased to 4.63 % from 0.95% in Q1. Its  Earning per Share (EPS) stood at Rs 5.04, net worth per share at Rs 79.53 and P/E ratio at 62.13 times.