Financial Performance
Laxmi Sunrise Bank Limited has released its unaudited financial results for the first half of the fiscal year 2082/83. The bank reported a net loss of Rs. 27.36 million, compared to a net profit of Rs. 116.21 million during the same period last year. While net interest income and fees and commission income increased modestly, a substantial rise in impairment charges pushed the bank into negative net earnings.
As of the second quarter, the bank’s net interest income rose by 1.14%, reaching Rs. 5.25 billion, and total operating income increased by 9.44% to Rs. 7.34 billion. However, operating profit turned negative at Rs. 159.88 million, as impairment charges surged from Rs. 179.30 million to Rs. 447.30 million.
Asset Quality and Loans
The bank’s non-performing loan (NPL) ratio decreased slightly by 0.17 percentage points, reaching 5.50%. During the review period, the bank collected deposits of Rs. 384.23 billion and disbursed loans of Rs. 287.90 billion, resulting in a loan-to-deposit ratio (CD ratio) of 77.44%. The base rate stood at 5.47%, and distributable profit was negative at Rs. 84.27 million.
Capital and Shareholder Metrics
Laxmi Sunrise Bank’s paid-up capital is Rs. 26.78 billion, with a reserve fund of Rs. 17.73 billion. Earnings per share (EPS) declined by Rs. 11.59 to a negative Rs. 2.04, while net worth per share stood at Rs. 166.23.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
