Siddhartha Bank has published first quarter report of FY 2075/76 based on Nepal financial reporting standard (NFRS). It has reported surge in net profit by 43.13% in Q1.
As per the published report, the commercial bank has reported increased in net profit to Rs.52.50 crore in this Q1 of Fiscal year 2075/76 from Rs.36.69 crore in the same period of last fiscal year 2074/75.
As per the NFRS model, the bank has free profit after regulatory adjustments of Rs.31.15 crore which can distribute as dividend to its shareholders.
During the period the bank has collected deposit of Rs.1.00 kharba & floated in loan & advances of Rs.90.67 arba. Deposit increased by 28.74% & loan expansion increased by 30.09% in the comparing period.
Its net interest income increased to Rs.1.24 arba in Q1 from Rs.73.98 crore in the last corresponding quarter. Operating profit increased to Rs. 74.42 crore from Rs.52.37 crore in the last year. Operating profit grown by 42.10% in the comparing period.
Its paid up capital is Rs.8.46 arba with reserves of Rs.5.62 arba. Reserve fund rose by 16.57% and paid up capital by 23.66%.
Its non performing loan stands at 1.4% from 2.01% from the last year. Cost of fund at 7.20% and credit to deposit is 79.47%.
Annualized earning per share is Rs.24.81. Net worth per share is Rs.166.49. PE ratio stands at 13.58 times.
