Siddhartha Bank’s Net Profit Declined

Nov 13, 2020 01:15 PM Merolagani

Siddhartha Bank (SBL) has published its financial report of the first quarter of the current FY. As per the report, its net profit decreased due to decrease in interest income but increased interest expenses.

In the review period, the bank earned a net profit of Rs 500.6 million. The net profit decreased by Rs 20.7 million compared to Rs 521.4 million of the corresponding period of the last FY.

In the review period, the bank maintained distributable losses of Rs 486.2 million after transferring Rs 664.6 million in regulatory reserve fund.

In the review period, the net interest income of the bank decreased by Rs 88 million to Rs 1.34 billion, and operating profit by Rs 20.5 million to Rs 724.3 million.  

The bank with Rs 9.78 billion in paid-up capital has reserve fund of Rs 5.66 billion and retained earnings of Rs 1.73 billion.  

During the period, the bank collected deposit of Rs 149 billion and extended loan of Rs 127 billion. The bank has EPS of Rs 20.07, net worth per share of Rs 175.63 and P/E ratio of 15.84 times.

Similarly, the bank maintained non-performing loan of 1.32 percent,  base rate of 8.10 percent and spread rate of 4.38 percent.

 

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