Subhechha Dev Bank’s profit jumps 117%, NPL almost halved to 2.41% ; Sahayogi posts 42% profit growth
Tue, Aug 12, 2014 12:00 AM on Others,
ShareSansar, August 12:
Profit of Subhechha Bikas Bank Ltd (SUBBL) has surged by 117 percent in the fourth quarter of the last fiscal year 2070/71 thanks to a heavy sum of money that the bank has able to manage to write back of provision set aside for the possible loss in the earlier years.
According to the unaudited quarterly financial report published by the bank today, its net profit went up to Rs 3.87 crore, up from Rs 1.78 crore in the corresponding period of the previous fiscal year2069/70.
Net interest income of the bank dropped to Rs 6.61 crore, down from Rs 7.72 crore in the previous year.
However, the bank was able to write back Rs 1.92 crore from the amount that it has provisioned in the earlier years for the possible loss.
The good point of the financial result is that the bank has almost halved its non-performing loan (NPL) last year. The NPL to total loan was down to 2.41 percent from 4.05 percent in previous year.
The EPS of the Subhechha stands at Rs29.51, P/E Ratio at 11.05 times and net worth per share Rs 148.76.
Similarly, Sahayogi Vikas Bank Ltd (SBBLJ) has posted a healthy profit growth of 42 percent in the fourth quarter of the last fiscal year 2070/71.
According to the unaudited financial results published by the bank today, the net profit of the bank rose to Rs 6.93 crore by the quarter ending, up from Rs 4.87 crore in the corresponding period of the previous fiscal year 2069/70.
The net interest income of the bank reached Rs 11.62 crore in last year, which is an increase of Rs 2.2 crore as compared to the previous year.
A total of Rs 1.68 crore of write back amount of provision for possible loss has also contributed in the rise of the bank’s net profit.
The bank set aside Rs 2 crore as provision for possible loss.
The bank was also able to bring down its non-performing loan to 0.78 percent from 1 percent on the previous year.
The EPS of SBBLJ stands at Rs 48.53, P/E Ratio at 211.87times and net worth per share Rs 169.11.
