Net profit of Sunrise Bank increases by 23.97%

Kathmandu November 17- Sunrise Bank's net profit has increased by 23.97% to Rs.  117.8 million in the first quarter of current fiscal year which was Rs. 98 million in the corresponding quarter of last FY.

Collection of deposit has increased by 27.19 % to Rs. 35 billion 263.6 million from Rs 27  billion 724.4 million last FY. Loan investment has increased by 31.58% to Rs. 28 billion 199.6 million from Rs. 21 billion 430.2 million last FY. In the first quarter of current fiscal year, net interest income has increased by 19.17% to Rs. 280.6 million.

Similarly, operating profit has increased by 12.89% to Rs. 158.9 million from Rs140.7 million last year. Provision of Rs. 55.7 million has kept in the balance and bad debt of Rs. 34.8 million has been recovered due to which net profit has been boosted.

According to the financial report of first quarter, EPS of the bank (annual) is Rs. 15.76, P/E ratio (annual) is 32.93 times and net worth per share is Rs. 119.14.  Liquidity ratio of the bank is of 28.93%. Likewise bad debt of the bank is 2.69% and risky assets stands at 10.77%.  Bank has distributed 21.5% bonus share and 1.13% cash dividend from the profit of fourth quarter of the FY 2071/72.