Sindhu Development Bank Limited has announced its unaudited financial results for the fourth quarter of the last fiscal year, reporting a 287.6% increase in net profit to NPR 11.78 crore.
Sindhu Development Bank Limited published its unaudited financial statements for the fourth quarter of the recent fiscal year. According to the report, the bank’s net profit surged by 287.6%, reaching NPR 11.78 crore, compared to NPR 3.04 crore in the same period last year.
The significant rise in profit occurred despite a decrease in net interest income, primarily due to a reduction in impairment charges. The bank’s net interest income declined by 30.14%, limiting it to NPR 13.38 crore in the quarter. Similarly, operating income dropped by 30.49% to NPR 15.07 crore.
However, impairment charges decreased drastically from NPR 11 lakh to a negative NPR 17.90 crore, positively impacting overall profitability.
Sindhu Development Bank’s non-performing loan (NPL) ratio improved, falling by 4.60 percentage points to 6.03%.
During the review period, the bank’s total deposits decreased by 3.58%, amounting to NPR 568 crore, while loans disbursed fell by 9.34% to NPR 325 crore.
The bank’s paid-up capital stands at NPR 55.74 crore, and the reserve fund shows a negative balance of NPR 7.41 crore. The distributable profit is also negative at NPR 20.76 crore.
Earnings per share (EPS) rose by NPR 15.69 to reach NPR 21.15 per share, while the net worth per share remains at NPR 86.70.
📌 This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
