Standard Chartered Bank earns Rs1.26 arba in Q4; Paid up capital at Rs 2.81 arba

Standard Chartered Bank Nepal Limited (SCB) has registered net profit of Rs 1.26 arba in fourth quarter fo the fiscal year 2072/73.The net profit of the bank has decreased by 1.90 percent in Q4 compared to the corresponding quarter of the previous fiscal year. The figure stood at Rs1.29 arba in the previous year corresponding quarter. Publishing the unaudited financial report, the bank stated that its net income of the bank declined to Rs 1.85 arba, down from Rs.1.91 arba in the previous year corresponding quarter. The reason behind the decrement of its net profit is its overall business deficit. Its deposit collection decrement has led to decline in its net interest income. The cause of net profit decline is core business activities decline which is net interest income decline. Deposits collection of the bank has reached to Rs.55.72 arba in Q4, decreasing from Rs 57.28 arba in the corresponding quarter last fiscal year. Meanwhile, it has mobilized loans and advances of Rs. 31.69 arba in Q4 whereas in the same period last year the figure stood at Rs. 28.02 arba. It’s paid up capital remains at Rs 2.81 arba with reserve of Rs 4.40 arba. It has an operating profit of Rs 1.67 arba in Q4. Its non-performing loan (NPL) slightly dropped to 0.32% from 0.34% in the fourth quarter. Annualized Earning per Share (EPS) of the bank is Rs.45, P/E ratio 80.01 times and net worth per share stands at Rs.256.59.