Nepal SBI Increases Net Profit by 16%

Apr 25, 2019 Merolagani

The net profit of Nepal SBI Bank (SBI) increased by 16 percent to Rs 1.60 billion in the third quarter of the current FY compared to Rs 1.37 billion of the corresponding period of the last FY.

As per the financial report published under NFRS format, the bank earned a distributable profit of Rs 1.17 billion in the review period. It maintained a general reserve of Rs 320.1 million, corporate social responsibility fund of Rs 8 million and the regulatory reserve fund of Rs 29 million.

Based on the report, the bank has the ability to distribute 18.60 percent dividend to its shareholders.

In the review period, the bank collected a deposit of Rs 100 billion up from Rs 84 billion of the last FY. Similarly, its extended loan of Rs 85.79 billion compared to Rs 72.36 billion of the last FY.

During the period, the company earned a net interest income of Rs 3.35 billion that was Rs 2.89 billion in the last FY.

The bank has paid-up capital of Rs 8.44 billion and a reserve fund of Rs 5.03 billion. The bank logged EPS of Rs 25.26 during the period.

Similarly, the bank maintained base interest rate of 9.73, cost of fund of 5.86 percent, bad debt of 0.44 percent, net worth per share of Rs 159.56, P/ E ratio of 16.46 times and CD ratio of 75.58 percent.

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