Net profit of Siddhartha Bank increases by 21.95%

Kathmandu November 17- With the paid up capital of Rs. 2 billion 437.4 million, Siddhartha Bank's net profit has increased by 21.95% to Rs.  172 million in the first quarter of current fiscal year which was Rs. 148.1 million in the corresponding quarter of last FY.

Reserve of bank has increased by 32.93% to Rs. 1 billion 480.7 million from Rs. 1 billion 113.8 million last year. Collection of deposit has increased by 23.69 % to Rs. 45 billion 113.9 million from Rs 36  billion 470.8 million last FY. Loan investment has increased by 31.37% to Rs. 38 billion 121.4 million from Rs. 29 billion 19.1 million last FY. In the first quarter of current fiscal year, net interest income has increased by 21.82% to Rs. 360.1 million which was Rs. 295.6 million last FY. Interest income has increased by 20.01% to Rs. 872.2 million and interest expenses has increased by 18.77% to Rs. 431.1 million.

 Similarly, operating profit has increased by 23.16% to Rs. 249.7 million from Rs. 202.7 million last year. Provision of Rs. 64.5 million has kept in the balance and bad debt of Rs. 27 million has been recovered.

According to the financial report of first quarter, EPS of the bank (annual) is Rs. 28.23, P/E ratio (annual) is 25.57 times and net worth per share is Rs. 160.75. Likewise bad debt of the bank is 1.72% and risky assets stands at 10.85%.  Bank has distributed 20% bonus share and 1.05% cash dividend from the profit of fourth quarter of the FY 2071/72.