Standard Chartered Bank earned nearly Rs 1 billion net profit; NPL stands 0.52%

ShareSansar, May 9:

Standard Chartered Bank Limited reported 17.86 percent increase in its net profit for the third quarter of the current fiscal year 2070/71.

Publishing the unaudited financial report for the third quarter today, the bank has stated that its net profit has increased to Rs 99.94 crore up from Rs 84.80 crore as compared to the corresponding quarter of the last fiscal year 2069/70.

The growth in the SCB’s net profit was triggered by the improvement in the operating profit, which has reached to Rs 2.15 arba up from Rs 1.96 arba, and the write back of Rs 8.39 crore.

The provision for the possible loss has increased to Rs 11.89 crore from Rs 8.10 crore. However, its non performing loan has reduced to 0.52 percent as compared to the corresponding quarter of last year which was 0.88 percent.

The bank’s deposits reached Rs 42.95 arba and the loan Rs 27.01 arba in this quarter as compared to the corresponding quarter’s figure which was Rs 38.25 arba and Rs 21.57 arba respectively.

The EPS stands at Rs 65.27, the net worth per share at Rs 274.50 and the P/E ratio is 27.85 times.