Net Profit of Standard Chartered Bank Increases by 50%

Jan 23, 2022 12:32 PM Merolagani

Standard Chartered Bank (SCB)  has published its second quarter report of the current FY. As per the report the bank earned a net profit of Rs 1.08 billion in the review period compared to Rs 727.6 million of the corresponding period of the last FY.

The net profit increased by 49..36 percent during the period. An increase in net interest income and operating profit can be attributed to the increase in the net profit.

During the period, the net interest income increased by 43.90 percent, net fee and commission by 54.58 percent and operating profit by 48.69 percent. The bank logged an impairment charge of Rs 17.6 million during the period. the bank has a distributable profit of Rs 754.6 million.

The bank with Rs 9.42 billion in paid-up capital has a reserve fund of Rs 7.56 bilion.

along with its net profit, its EPS increased by Rs 6.07 to Rs 23.05. the bank has net worth per share of Rs 180.28 and P/E ratio of 21.69 times.

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