Sunrise Bank’s profit grows by 107% in Q1

ShareSansar, November 12:

Sunrise Bank Limited’s has reported that its net profit has surged by 107 percent in the first quarter of the current fiscal year 2070/71, largely due to its core business.

Publishing an unaudited report for the first quarter today, the commercial bank has stated that it earned a net profit of Rs 9.32 crore in the first quarter, up from Rs 4.49 crore in the corresponding quarter of the last fiscal year.

Sunrise Bank has also posted an impressive operational profit of Rs 8.69 crore in the first quarter compared to just Rs 3.65 crore in the corresponding quarter.

It also mobilized Rs 26.01 arba in deposit and Rs 13.60 arba in loan in the first quarter, up from 20.58 arba in deposit and Rs 16.88 arba in loan in the first quarter last year.

Its non performing loan has, however, marginally increased from 2.54 percent to 3.11 percent.

Sunrise Bank’s net worth per share stands at Rs 126.89 and its EPS at Rs 18.51