Siddhartha Bank Records Steady Rise in Net Profits in Q4; Impairment Allocation Doubles
Fri, Aug 4, 2023 7:57 AM on Financial Analysis, Latest,
Siddhartha Bank Limited (SBL) has published its fourth quarter report for the recently concluded financial year 2079-80 with a steady increase in its Net Profits by almost 10 percent. As of FY 2079-80 last quarter, the commercial bank has earned Rs. 3.19 Arba as opposed to Rs. 2.90 Arba that the company profited up to the corresponding quarter of FY 2078-79.
Both the Net Interest Income and Operating profits of the company have improved by 23.97 and 9.83 percent, respectively. As of the last quarter of FY 2079-80, the core business revenue of the company stood at Rs. 8.17 Arba, while the latter was Rs.4.68 Arba.
However, there has been a considerable rise in the impairment allocation of the bank as it has comparatively spiked by 100.46 percent, totaling Rs. 1.21 Arba at the end of FY 2079-80.
The financial institution has Rs. 79.57 crores as distributable profits for its shareholders.
The Non-performing loan (NPL) has increased comparatively to stand at 2.01 percent as of FY 079-80’s end.
Despite an Earnings per Share (EPS) ratio of Rs. 22.64, its distributable profits per share are only Rs. 5.65, while the company’s securities are worth Rs. 180.73 per unit.
The Bank maintains 14.08 Arba as paid-up capital and has Rs. 11.37 Arba in the form of Reserves and surplus (reserves + retained earnings), which puts the bank in good financial standing.
Major Financial Highlights:
| Particulars (In Rs '000) | Siddhartha Bank Limited | ||
|---|---|---|---|
| Q4 2079/80 | Q4 2078/79 | Difference | |
| Paid Up Capital | 14,089,980.19 | 12,524,426.84 | 12.50% |
| Share Premium | - | - | - |
| Retained Earnings | 795,765.60 | 1,359,868.48 | -41.48% |
| Reserves | 10,578,935.54 | 7,713,578.78 | 37.15% |
| Deposits | 223,654,669.69 | 191,550,643.58 | 16.76% |
| Loans & Advances | 184,045,677.92 | 178,587,363.23 | 3.06% |
| Net Interest Income | 8,178,422.45 | 6,596,847.52 | 23.97% |
| Personnel Expenses | 2,855,862.09 | 2,685,015.44 | 6.36% |
| Impairment Charges | 1,217,707.85 | 607,471.21 | 100.46% |
| Operating Profit | 4,685,792.49 | 4,266,552.68 | 9.83% |
| Net Profit | 3,190,111.74 | 2,902,464.04 | 9.91% |
| Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments | 795,765.60 | 1,359,868.48 | -41.48% |
| Distributable Profit per Share | 5.65 | 10.86 | -47.97% |
| Capital Adequacy (%) | 12.53 | 13.00 | -3.62% |
| Non Performing Loan (NPL) (%) | 2.01 | 1.07 | 87.85% |
| Cost of Fund (%) | 7.82 | 7.44 | 5.11% |
| Base Rate (%) | 9.91 | 9.45 | 4.87% |
| EPS (In Rs.) | 22.64 | 23.17 | -2.30% |
| Net Worth per Share (In Rs.) | 180.73 | 172.45 | 4.80% |
| Qtr end PE Ratio (times) | 11.17 | - | - |
| Qtr End Market Price | 253 | - | - |
