Sunrise Bank, too, reports 63 % profit rise in Q2 due to business growth

ShareSansar, February 11:

Sunrise Bank Limited has reported a massive growth of 63 percent in its net profit for the second quarter of the current fiscal year 2070/71.

Publicizing the unaudited quarterly report for the second quarter today, the commercial bank has stated that it has posted a net profit of Rs  20.58 crore in the second quarter, up from Rs 12.62 crore in the corresponding quarter of the last fiscal year.

Sunrise made much of the profit from its core business as the profit from its regular activities has gone up to 26.14 crore in the second quarter from just Rs 13.17 crore in the corresponding quarter.
 
The bank’s net interest income has also risen to Rs 39.42 crore, up from Rs 32.60 crore in the second quarter of the last fiscal year.

Sunrise mobilized Rs 15.09 arba in deposit and Rs 13.72 arba in loan as compared to Rs 11.82 arba in deposit and Rs 10.88 arba in the corresponding quarter last year.

The bank’s non-performing loan has marginally increased to 1.93 percent, up from 1.83 percent in the same period of the previous fiscal year.

Its EPS (annualized) stands at Rs 14.24 and its net worth per share stands at Rs 112.38.