Sunrise Bank Raises Net Profit by 37%

Nov 08, 2019 11:09 AM Merolagani

The net profit of Sunrise Bank (SRBL) has increased by 37.06 percent to Rs 454.3 million in the first quarter of the current FY compared to Rs 331.4 million of the corresponding period of the last FY.

As per the financial report published under NFRS format, the bank has distributable profit of Rs 158.3 million. During the period, the bank collected deposit of Rs 77.89 billion and extended loan of Rs 72.55 billion.

In the review period, the bank earned Rs 2.55 billion in total interest income and spends Rs 1.45 billion in total expenses, thus, earning Rs 1.10 billion in net interest income. The net interest income increased by 33.91 percent compared to Rs 821.8 million of the review period of the last FY.

The company with Rs 8.15 billion in paid-up capital has reserve fund of Rs 2.94 billion.

The bank maintained a non-performing loan of 1.27 percent, EPS of Rs 22.29, net worth per share of Rs 155.78 and P/E ratio of 10.72 times.

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