Sunrise Bank’s net profit surges by Rs 67.52% to Rs 60.97 crore in Q2: starting joint transaction with NIDC Capital Markets from today

Sunrise Bank Limited (SRBL) has posted net profit growth by 67.52 % in the second quarter of the fiscal year 2073/74. The commercial bank has earned Rs 60.97 crore in the Q2 of the current fiscal year from Rs 36.39 crore in the corresponding quarter of the previous fiscal year. As per the unaudited financial report for Q2 published today, the commercial bank’s net interest income surged to Rs 1.10 arba in Q2 from Rs.64.79 last year. Sunrise Bank has deposit base of Rs. 57.30 arba as of the end of second quarter this year, up from Rs. 37.22 arba in the second quarter in the last fiscal year 2073/74. It has mobilized loans of Rs 49.22 arba, rising from Rs.31.08 arba of the corresponding quarter of the previous fiscal year. Its paid up capital remains at Rs. 5.30 arba with a reserve of Rs.1.45 arba. The commercial bank’s operating profit has doubled to Rs 82.05 crore from Rs.40.50 crore. Its non-performing loan (NPL) dropped to 1.40 % from 2.30%. Sunrise Bank’s earnings per share (EPS) stands at Rs. 23. Its net worth per share is Rs.127.41, and P/E ratio is at 21.39 times. Likewise, Sunrise Bank & NIDC Capital Markets Limited are starting joint transaction from today as Sunrise Bank Limited. Nepal Rastra Bank had given final approval for the acquisition of NIDC Capital Markets (NCM) Ltd by Sunrise Bank Limited (SRBL) on Magh 13, 2073. The swap ratio for the acquisition has been fixed at 100:65. After the acquisition, the registered office of the bank will be in Gairidhara, Kathmandu. Earlier, Sunrise Bank had acquired Narayani National Finance Limited in the swap of 100:77.