Nepal SBI Bank in Billionaire's Club

Jan 27, 2019 Merolagani

Nepal SBI Bank (SBI) has entered into billionaire's club in the second quarter of the current FY. As per the financial report published under NFRS, the bank has earned a net profit of Rs 1.02 billion compared to Rs 913 million of the corresponding period of the last FY. The profit increased by 12.02 percent in the review period.

However, the distributable profit of the bank contracted to Rs 902.2 million after adjusting Rs 120.5 million in regulatory adjustment as per NRB directive.

During the period, the bank collected deposit of Rs 97.83 billion, a growth of 14.87 percent compared to the review period of the last FY which was Rs 85.16 billion. Similarly, the bank increased its loan extension by 24.45 percent to Rs 90.92 billion compared to Rs 71.34 billion of the last FY.

Along with increase in loan extension, the bad debt of the bank also rose to 0.19 percent from 0.13 percent. The bank has net worth per share of Rs 152.93 and P/E ratio of 16.07 times.

Similarly, the bank raised its net interest income by 16.11 percent to Rs 2.18 billion compared to Rs 1.88 billion of the review period of the last FY.

In the review period, the EPS of the bank increased to Rs 24.21 while its paid-up capital increased to Rs 8.44 billion.

The bank maintained Rs 4.47 billion in reserve fund. The bank has base interest rate of 9.82 percent and cost of fund of 5.91 percent.

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