Sunrise Bank Limited Reports Impressive Growth In Business Volume In Q2; Profitability Remained Unsatisfactory
Mon, Jan 24, 2022 8:47 AM on Company Analysis, Latest,
Sunrise Bank Limited (SRBL) has published its second-quarter report for the FY 2078/2079 with a decline in Net Profit by 21.47%. The bank's net profit has declined from Rs. 94.94 crores in the second quarter of FY 2077/2078 to Rs. 74.55 crores in the second quarter of FY 2078/2079.
The bank reported Rs. 10.11 crores as distributable profit after P/L appropriation and regulatory requirements in this quarter.
The bank’s deposit from customers increased by 21.43% to Rs. 1.29 kharba (compared to immediate previous year ending) whereas loans and advances to customers increased by 19.8% to Rs. 1.20 kharba (compared to the immediate previous year ending) till the second quarter. The bank's Net Interest Income (core business income) increased to Rs. 1.83 Arba compared to the corresponding quarter of the previous year.
The bank’s paid-up capital stands at Rs. 10.11 Arba with Rs. 5.24 Arba in Reserve and surplus. The Non-performing loan (NPL) increased to 1.41%.
The annualized earnings per share (EPS) of the Bank stood at Rs. 14.74 and Net worth per share stood at Rs. 151.79. The company traded at a P/E multiple of 20.36 times.
Major Highlights:
|
Particulars |
Sunrise Bank Limited |
||
|---|---|---|---|
|
Q2, 2078/2079 |
Q2, 2077/2078 |
Difference |
|
|
Share Capital |
10,118,892.81 |
9,487,944.50 |
6.65% |
|
Reserve & Surplus |
5,240,690.41 |
5,281,766.55 |
-0.78% |
|
Loans and Advances |
120,390,362.43 |
100,490,657.08 |
19.80% |
|
Deposit from Customers |
129,242,988.45 |
106,432,370.62 |
21.43% |
|
Net Interest Income |
1,830,367.16 |
1,815,824.19 |
0.80% |
|
Impairment charge/(Reversal) for loans |
394,963.17 |
-90,637.09 |
- |
|
Operating Profit |
1,063,497.05 |
1,356,303.07 |
-21.59% |
|
Net Profit |
745,544.61 |
949,412.15 |
-21.47% |
|
Capital Adequacy Ratio (CAR) |
12.70% |
14.53% |
- |
|
Non-performing Loan (%) |
1.41% |
1.06% |
- |
|
Cost of Funds (%) |
6.76% |
5.14% |
- |
|
Base Rate (%) |
8.94% |
7.29% |
- |
|
CD Ratio (as per NRB Directives) |
89.57% |
77.18% |
- |
|
Annualized EPS (Rs.) |
14.74 |
20.01 |
- |
|
Net Worth per share (Rs.) |
151.79 |
155.67 |
- |
|
Price to Earnings (Times) |
20.36 |
- |
- |
|
Price to Book (Times) |
1.98 |
- |
- |
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