Sunrise Bank's Earns Rs 2.15 Arba in Q4 With 48.69% Growth; Distributable Profit Stands at Just Rs 25.6 Crore
Sun, Jul 24, 2022 10:49 AM on Latest, Financial Analysis, Stock Market,
Sunrise Bank Limited (SRBL) has published its fourth-quarter report for the FY 2078/2079 with an incline in Net Profit by 48.69%. The bank's net profit has inclined from Rs 1.44 Arba in the fourth quarter of FY 2077/2078 to Rs. 2.15 Arba in the fourth quarter of FY 2078/2079.
The bank reported Rs. 25.6 crores as distributable profit after P/L appropriation and regulatory requirements in this quarter.
The bank’s deposit from customers increased by 23.65% to Rs. 1.31 kharba (compared to the immediate previous year ending) whereas loans and advances to customers increased by 19.56% to Rs. 1.20 kharba (compared to the immediate previous year ending) till the fourth quarter. The bank's Net Interest Income (core business income) increased to Rs. 4.58 Arba compared to the corresponding quarter of the previous year.
The bank’s paid-up capital stands at Rs. 10.11 Arba with Rs. 6.60 Arba in Reserve and surplus. The Non-performing loan (NPL) increased to 1.4%.
The annualized earnings per share (EPS) of the Bank stood at Rs. 21.26 and the Net worth per share stood at Rs. 165.29 The company traded at a P/E multiple of 9.74 times.
Major Highlights:
| Particulars (In Rs '000") | Sunrise Bank | ||
|---|---|---|---|
| Q4 2078/79 | Q4 2077/78 | Difference | |
| Share Capital | 10,118,893 | 9,487,944 | 6.65% |
| Retained Earnings | 1,463,051 | 668,862 | 118.74% |
| Reserves | 5,143,399 | 4,612,904 | 11.50% |
| Deposits from Customers | 131,606,257 | 106,432,371 | 23.65% |
| Loans & Advances to customers | 120,149,289 | 100,490,657 | 19.56% |
| Net Interest Income | 4,580,202 | 3,524,075 | 29.97% |
| Impairment Charge/(Reversal) | 487,056 | 254,683 | 91.24% |
| Personnel Expenses | 1,867,223 | 1,518,136 | 22.99% |
| Operating Profit | 2,730,982 | 2,277,717 | 19.90% |
| Profit/(Loss) for the Year | 2,150,945 | 1,446,550 | 48.69% |
| Total Comprehensive Income | 1,988,840 | 1,598,324 | 24.43% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | 256,116 | ||
| Capital Adequacy Ratio (CAR) | 12.45 | 13.41 | -7.16% |
| NPL | 1.4 | 1.39 | 0.72% |
| CD (as per NRB Directives) | 86.3 | 80.62 | 7.05% |
| Cost of Fund (%) | 7.92 | 4.69 | 68.87% |
| Interest Rate Spread (%) | 4.37 | 4.03 | 8.44% |
| Base Rate (%) | 10.01 | 6.7 | 49.40% |
| EPS (In Rs.) | 21.26 | ||
| Net Worth per Share (In Rs.) | 165.29 | ||
| Qtr End PE Ratio (times) | 9.74 | - | |
| Qtr End Market Price | 207 | - | |
