Q3 Status of Acquisition Partners Shine Resunga and Purnima Bikas Bank

Apr 24, 2019 Merolagani

Shine Resunga Development Bank (SHINE) and  Purnima Bikas Bank (PURBL)  that are in merger process have published their third quarter financial report on April 24.

In the third quarter, Shine Resunga Development Bank increased its net profit by 31 percent to Rs 310.9 million compared to Rs 237.2 million of the corresponding period of the last FY.

The bank that increased its paid-up capital to Rs 1.62 billion by distributing 17.70 percent bonus share raised its reserve fund by 26.85 percent to Rs 642.3 million.

During the period, the bank earned net interest income of Rs 639.8 million and operating profit of Rs 485.6 million.

In the review period, the bank collected deposit of Rs 16.98 billion and extended loan of Rs 15.29 billion.

The bank has non-performing loan of 0.19 percent, EPS of Rs 25.55, net worth per share of Rs 139.59 and P/E ratio of 9.20 times.

 In the mean times, the profit of Purnima Bikas Bank decreased by 3 percent to Rs 56.7 million in the third quarter of the current FY compared to Rs 58.5 million of the corresponding period of the last FY.

The bank that increased its paid-up capital to Rs 551.2 million by distributing 5 percent bonus share has reserve fund of Rs 147.4 million.

In the review period, the bank collected deposit of Rs 3.43 billion and extended loan of Rs 3.12 billion. The bank earned a net interest income of Rs 131.8 million during the period.

The bank has bad debt ratio of 0.79 percent, EPS of Rs 13.73, net worth per share of Rs 126.76 and P/E ratio of 13.70 times.

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