Society Development and Vibor Bikas Bank registers net profit of Rs 20.05 crore & Rs 20.37 crore in Q4 respectively

Publishing the unaudited financial report today, Society Development Bank Limited (SODBL) stated that its net profit stands at  Rs 20.05 crore in the fourth quarter of  fiscal year 2072/73 whereas in the corresponding period of the previous fiscal year 2071/72 the net profit stood at Rs 20.32 crore. Its net interest income has risen from Rs 27.07 crore in corresponding quarter to Rs 31.18 crore in the fourth quarter. Society Development Bank’s paid up capital remains at Rs. 89.79 crore The bank has collected Rs 7.59 arba in the fourth quarter up from Rs 5.49 arba in the corresponding quarter. Likewise, it has extended loans and advances of Rs 6.12 arba in Q4 whereas in the same period previous year the figure stood at Rs 4.67 arba. Its non-performing loan (NPL) has drop to 1.99 percent in Q4 from 3.92 percent in the previous year report. The bank reserve and surplus increased to Rs 10.27 crore in Q4 up from loss of  Rs 9.81 crore in corresponding quarter of previous fiscal year. SODBL’s earning per share (EPS) stand at Rs 22.33, net worth per share at 111.45 and the P/E ratio at 5.96 times. Meanwhile, Vibor Bikas Bank Limited (VBBL) has reported net profit rise by 28.60 percent in the fourth quarter of the current fiscal year 2072/73. The development bank‘s net profit increased to Rs 20.37 crore in Q4 from Rs. 15.84 crore in the corresponding quarter of the previous fiscal year. Publishing the unaudited financial report for Q4 today, the development bank’s deposit collection reached to Rs. 6.47 arba in the fourth quarter, up from Rs. 4.67  arba in corresponding quarter of previous fiscal  year. Likewise, it has floated loans of Rs.  5.28 arba, rising from Rs. 3.85 arba. The bank’s net interest income has risen to Rs. 19.17crore in Q4 from Rs 11.17 crore in corresponding quarter. Its paid up capital remains at Rs. 91.70 crore. Its non-performing loan (NPL) dropped to 0.79 percent in the fourth quarter from 2.50 percent in the corresponding quarter. Vibor Bikas Bank’s annualized earning per share (EPS) stands at Rs 22.21, net worth per share is at Rs. 97.47 and P/E ratio at 6.84 times. Society Development Bank and Vibor Bikas Bank had signed a memorandum of understanding (MoU)  on December 23, 2015 to enter into a merger process.