Sunrise and Siddhartha Bank earns Rs 95.17 cr & Rs 1.26 arba respectively in Q4

Sunrise Bank Limited (SRBL) has reported massive net profit growth by 102.13% in the fourth quarter of the fiscal year 2072/73.The commercial bank earned Rs 95.17 crore in the Q4 of the current fiscal year. The figure stood at Rs 47.08 crore in the corresponding quarter of the previous fiscal year. As per the unaudited financial report for Q4 today, the commercial bank’s net interest income elevated to Rs.1.50 arba in Q4 from Rs.1.10 arba in the corresponding quarter of the previous fiscal year. Sunrise Bank’s deposit collection reached Rs. 51.65 arba up from Rs.33.48 arba in fourth quarter. It mobilized loans of Rs.42.86 arba, rising from Rs.26.38 arba of the corresponding quarter of the previous fiscal year. It’s paid up capital remains at Rs.3.97 arba with reserve of Rs.2.16 arba. The commercial bank’s operating profit doubled to Rs 95.23 crore from Rs.40.60 crore. The bank’s interest income, operating profit and overall business are the main factors for the increment in its net profit. Its non- performing loan (NPL) dropped to 1.24 % from 2.90 % in the fourth quarter. Sunrise Bank earning per share (EPS) stands at Rs.23.98. Its net worth per share is Rs.154.56, and P/E ratio is at 31.24 times. Likewise, Siddhartha Bank Limited (SBL) has posted outstanding  net profit increase by 62.23% for the fourth quarter (Q3) of the fiscal year 2072/73.The commercial bank has earned Rs 1.26 arba in Q4 compared to Rs  77.69 crore in the corresponding quarter of the previous fiscal year. Publishing the unaudited financial report for the fourth quarter today, Siddhartha Bank stated that its net interest income increased to Rs 2.16 arba in Q4 from Rs 1.43 arba in the previous fiscal year. The net interest income has increased by 51.09 percent which helped in the bank’s net profit increment. Also the bank’s non-operating income increased to Rs 16.64 crore in Q4 from Rs 4.44 crore in corresponding quarter previous year. It’s paid up capital remains at Rs 3.02 arba with reserve of Rs 3.25 arba. The bank has collected deposits of Rs 64.90 arba in Q4 compared to Rs 44.72 arba in the corresponding quarter last year. Likewise, it has disbursed loans of Rs 55.30 arba, up from Rs 36.33 arba. The non-performing loan (NPL) has dropped to 1.41 percent in Q4 from 1.80 percent in the corresponding quarter. Annualized earning per share (EPS) of the bank  now stands at Rs 41.19 , net worth per share at Rs 206.91 and PE ratio at 22.10 times.