Sunrise Bank posted satisfactory growth in Q2 financial report; achieves 19.13% rise in net profit
Thu, Jan 30, 2020 9:44 AM on Financial Analysis,
Sunrise Bank Limited (SRBL) has published its second quarter report for the FY 2076/77 today with satisfactory rise of net profit by 19.13%. The bank’s profit has increased from Rs 79.27 crore in the second quarter of the fiscal year 2075/76 to Rs 94.43 crore in the second quarter of the fiscal year 2076/77.
In the same quarter, the bank has Rs 51.90 crore as distributable profit after PL Appropriation and Regulatory Adjustments.
The bank’s deposit from customers has increased by 8.91% (compared to immediate previous year ending) to Rs 82.15 arba and loans and advances to customers increased by 9.76% (compared to immediate previous year ending) to Rs 75.58 arba till the second quarter. The net interest income (core business income) of the bank has increased by 18.94% to Rs 2.04 arba from Rs 1.72 arba of the corresponding quarter.
The bank’s paid up capital stands at Rs 8.96 arba with Rs 3.78 arba as its reserve and surplus. The Non-performing loan rises to 1.69% from 1.26% in corresponding quarter.
In the second quarter, the annualized EPS of the bank stands at Rs 21.06. The net worth per share stands at Rs 142.26 and qtr end PE ratio stands at 11.21 times.
Major Highlights:
* 2075/76 figure are of Immediate Previous Year Ending.
|
Particulars (In Rs '000) |
Sunrise Bank Limited |
||
|---|---|---|---|
|
Q2 2076/77 |
Q2 2075/76 |
Difference |
|
|
Share Capital* |
8,967,811 |
8,152,556 |
10.00% |
|
Share Premium* |
- |
127,161 |
- |
|
Retained Earnings* |
858,807 |
1,175,249 |
-26.93% |
|
Reserves* |
2,931,005 |
2,815,184 |
4.11% |
|
Deposits from Customers* |
82,155,814 |
75,432,151 |
8.91% |
|
Loans & Advances to customers* |
75,587,853 |
68,865,810 |
9.76% |
|
Net Interest Income |
2,047,436 |
1,721,409 |
18.94% |
|
Impairment Charge/(Reversal) |
-244,971 |
-203,350 |
- |
|
Personnel Expenses |
703,708 |
521,804 |
34.86% |
|
Operating Profit |
1,345,151 |
1,135,904 |
18.42% |
|
Profit/(Loss) for the Year |
944,388 |
792,754 |
19.13% |
|
Total Comprehensive Income |
955,541 |
785,788 |
21.60% |
|
Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments |
519,038 |
- |
- |
|
Capital Adequacy Ratio (CAR) |
15.14 |
12.90 |
17.36% |
|
NPL |
1.69 |
1.26 |
34.13% |
|
CCD (as per NRB Directives) |
74.54 |
76.02 |
-1.95% |
|
Cost of Fund (%) |
7.14 |
7.55 |
-5.43% |
|
Base Rate (%) |
9.99 |
10.63 |
-6.02% |
|
Annualized EPS (In Rs.) |
21.06 |
19.45 |
8.30% |
|
Net Worth per Share (In Rs.) |
142.26 |
150.51 |
-5.48% |
|
Qtr End PE Ratio (times) |
11.21 |
- |
- |
|
Qtr End Market Price |
236 |
- |
- |
