Standard Chartered & Kumari Bank earns Rs 34.94 crore & Rs 13.74 crore respectively in Q1

Standard Chartered Bank Nepal Limited (SCB) has registered net profit of Rs 34.94 crore in first quarter of the fiscal year 2073/74.The net profit of the bank has increased  by 1.20 percent in Q1 compared to the corresponding quarter of the previous fiscal year. The figure stood at Rs 34.52 crore in the previous year corresponding quarter. Publishing the unaudited financial report today, the commercial bank stated that net income of the bank increased to Rs 50 crore, up from Rs.45.20 crore in the previous year corresponding quarter. Deposits collection of the bank has reached to Rs. 57.41 arba in Q1, decreasing from Rs 58.35 arba in the corresponding quarter last fiscal year. Meanwhile, it has mobilized loans and advances of Rs. 32.39 arba in Q1 whereas in the same period last year the figure stood at Rs. 26.92 arba. It’s paid up capital remains at Rs 2.81 arba with reserve of Rs 5.11 arba. Its non-performing loan (NPL) slightly dropped to 0.31% from 0.38% in the first quarter. Annualized Earning per Share (EPS) of the bank is Rs.49.70, P/E ratio 74.45 times and net worth per share stands at Rs.281.71. Kumari Bank Limited (KBL) has registered net profit growth by 182.31% in the first quarter of the fiscal year 2073/74.The commercial bank earned net profit of Rs 13.74 crore in the current fiscal year. The figure stood at Rs 4.86 crore in the corresponding quarter of the previous fiscal year. Publishing the unaudited financial report for Q1 today, it stated that the commercial bank’s net interest income increased  to Rs.26.25 crore in Q1 from Rs.17.79 crore in the corresponding quarter of the last fiscal year. The commercial bank has collected deposits of Rs.40.35 arba from Rs.34.73 arba in Q1. It has floated loans of Rs.32.41 arba, rising from Rs.27.46 arba of the corresponding quarter of the previous fiscal year. Kumari Bank’s paid up capital remains at Rs 2.69 arba and has a reserve of Rs1.50arba. Its NPL dropped to 1.26% from 2.91 % in the first quarter. Kumari Bank’s annualized EPS stands at Rs 31.49, net worth per share is Rs 155.64 and P/E ratio at 19.59 times. Kumari Bank and Kasthamandap Development Bank have signed an agreement for acquisition process.