Sunrise Bank Limited (SRBL) has reported 19.52% diminish in its net profit in the first quarter (Q1) of the current FY 2074/75.
According to the unaudited financial report published by the commercial bank, its net profit has diminished to Rs 20.37 crore in first quarter, from Rs 25.31 crore in the corresponding quarter of the last fiscal year 2073/74. The operating profit also decreased to Rs 24.46 crore in Q1 from Rs 30.49 crore as compared to the corresponding quarter of last fiscal year.
SRBL’s net interest income has risen to Rs 51.38 crore in the first quarter as compared to Rs 51.56 crore in the corresponding quarter last year. Likewise, deposits collection surged by 17.63% to Rs 63.61 arba in Q1 from Rs 54.08 arba in the corresponding period last year.
Similarly, it has also been able to increase its loans by similar figures. Up to the end of Q1, it extended loans and advances of Rs 54.49 arba whereas in the same period last year, the figure stood at Rs 46.45 arba.
Its non-performing loan has decreased to 1.49% compared to 1.69% in corresponding quarter.
Its paid up capital now stands at Rs 8.15 arba (including 15% bonus shares from the net profit of FY 2073/74). SRBL managed to tremendous increase its reserve by 56.58% to Rs arab in Q1.
Its annualized earning per share (EPS) stands at Rs 9.99 only, net worth per shares at Rs 121.06 and P/E ratio at 33.12 times.
Bank of Kathmandu Limited (BOK) has registered net profit of Rs 22.40 crore for the first quarter of the fiscal year 2073/74. The net profit decreased by 17.32% in the first quarter of FY 2074/75 with respect to the corresponding quarter of the FY 2073/74.
As per the unaudited financial report for the first quarter, Bok’s net interest income slightly decreased to 57.36 crore from Rs 62.50 crore
Its paid up capital remains at Rs 5.62 arba with reserve and surplus of Rs 3.53 arba. BOK has not published the clear capital plan to meet the capital of Rs 8 arab till now.
The commercial bank has mobilized deposits of Rs 69.15 arba and extended loans of Rs 62.32 arba in Q1.
The commercial bank’s Non-performing Loan surged to 2.08% from 1.12% in Q1.
Its annualized EPS now stands at Rs 15.92 , net worth per share at Rs 162.85, and P/E ratio at 27.83 times.
Major Highlights:
| Particulars (In Rs '000) |
Sunrise Bank (SRBL) |
Bank of Kathmandu (BOK) |
| Q1 2074/75 |
Q1 2073/74 |
Difference |
Q1 2074/75 |
Q1 2073/74 |
Difference |
| Paid Up Capital |
8,152,556 |
5,301,396 |
53.78% |
5,629,576 |
4,576,891 |
23.00% |
| Reserve & Surplus |
1,716,686 |
1,096,387 |
56.58% |
3,538,180 |
4,206,366 |
-15.89% |
| Deposits |
63,615,480 |
54,083,006 |
17.63% |
69,150,986 |
69,326,377 |
-0.25% |
| Borrowings |
- |
- |
#DIV/0! |
289,518 |
1,944,400 |
-85.11% |
| Loans & Advances |
54,491,770 |
46,451,497 |
17.31% |
62,328,067 |
61,476,338 |
1.39% |
| Net Interest Income |
513,829 |
515,658 |
-0.35% |
573,679 |
625,006 |
-8.21% |
| Provision for possible losses |
156,837 |
151,762 |
3.34% |
132,958 |
97,693 |
36.10% |
| Operating Profit |
244,646 |
304,946 |
-19.77% |
292,822 |
390,923 |
-25.09% |
| Net Profit |
203,708 |
253,116 |
-19.52% |
224,046 |
270,974 |
-17.32% |
| NPL (%) |
1.49 |
1.69 |
-11.83% |
2.08 |
1.12 |
85.71% |
| Annualized EPS (In Rs.) |
9.99 |
19.10 |
-47.67% |
15.92 |
23.68 |
-32.78% |
| Net Worth per Share (In Rs.) |
121.06 |
120.68 |
0.31% |
162.85 |
191.90 |
-15.14% |
| P/E Ratio (In times) |
33.12 |
- |
- |
27.83 |
- |
- |
| Dividend (FY 2073/74) |
15% bonus shares |
Yet to be announced |
