Standard chartered loses its standard, net profit decreases by 1.29%

Kathmandu November 17- With the paid up capital of Rs. 2 billion 248.1 million, Standard Chartered Bank's net profit has decreases by 1.29% to Rs.  345.2 million in the first quarter of current fiscal year which was Rs. 349.7 million in the corresponding quarter of  last FY.

Reserve of bank has increased by 40.27% to Rs. 4 billion 477.5 million from Rs. 3 billion 192 million last year. Collection of deposit has increased by 11.87 % to Rs. 58 billion 354 million from Rs52  billion 166.1 million last FY. Loan investment has decreased by 8.89% to Rs. 26 billion 923.6 million from Rs. 29 billion 553.6 million last FY. In the first quarter of current fiscal year, net interest income has decreased by 9.24% to Rs. 452 million which was Rs. 498 million last FY. Interest income has decreased by 6.89% to Rs. 615.7 million and interest expenses has increased by 24% to Rs. 166.7 million.

 Similarly, operating profit has decreased by 0.44% to Rs. 484.4 million from Rs. 486.6 million last year. Provision of Rs. 22.8 million has kept in the balance and bad debt of Rs. 34.5 million has been recovered.

According to the financial report of first quarter, EPS of the bank (annual) is Rs. 66.43, P/E ratio (annual) is 43.95 times and net worth per share is Rs. 299.16. Likewise bad debt of the bank is 0.38% and risky assets stands at 15.91%.