Net Profit of Sanima Bank Exceeds 1 Bn

Jan 24, 2020 11:00 AM Merolagani

The net profit of Sanima Bank (SANIMA) has exceeded Rs 1 billion in the second quarter of the current FY. Increase in net interest income and operating profit helped to boost the net profit of the bank.

The bank earned the net profit of Rs 1.14 billion in the review period compared to Rs 982 million of the review period of the last FY. The net profit increased by Rs 165.3 million during the period.

In the review period, the bank increased its net interest income by Rs 258.5 million to Rs 2.16 billion and net operating profit by Rs 230 million to Rs 1.62 billion.

During the period, an increase in net profit stretched its EPS by Rs 1.53 to Rs 26.15. The bank logged net worth per share of Rs 139.06 and P/E ratio of 13.12 times.

The bank with Rs 8.80 billion in paid-up capital has a reserve fund of Rs 2.42 billion and retained earnings of Rs 1.01 billion. During the period, the bank collected deposits of Rs 99.30 billion and extended loans of Rs 88.71 billion.

As per the financial report published under NFRS format, the bank has distributable profit of Rs 950.9 million. The bank maintained non-performing loan of 0.41 percent and return on equity of 20.75 percent. The bank has base interest rate of 9.29 percent and spread rate of 4.17 percent.

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