Nepal SBI Bank Earns Rs 489.7 Mn in Net Profit

Nov 16, 2018 Merolagani

Nepal SBI Bank (SBI) has increased its net profit by 11.60 percent to Rs 489.7 million in the first quarter of the current FY compared to Rs 438.8 million of the corresponding period of the last FY.

The bank made Rs 205.5 million in regulatory adjustment as per NRB requirement to maintain Rs 279.7 million in distributable profit.

In the review period, the bank raised its deposit collection by 9 percent to Rs 94.46 billion and loan extension by 24 percent to Rs 84.62 billion.

During the period, the company earned net interest income of Rs 1.06 billion from earlier Rs 902 million.

The EPS of the bank however slightly slipped to Rs 24.35 from earlier Rs 25.18. In the review period, the bad debt of the company increased to 0.20 from 0.13 percent. The bank has net worth per share of Rs 165.38 and P/E ratio of 20.21 times.

The bank with Rs 8.04 billion in paid-up capital has reserve fund of Rs 5.26 billion.

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