Siddhartha Bank Limited has published its unaudited financial statement for the third quarter of the current fiscal year, showing an improvement in profitability. The bank’s net profit increased by 20.78% to Rs. 2 arba 1 crore 48 lakh, compared to Rs. 1 arba 66 crore 82 lakh in the same period last year. The bank stated that the increase in profit was mainly driven by a reduction in impairment charges.
Income and Operating Performance
During the review period, the bank recorded steady growth across key indicators:
- Net interest income: Increased by 3.04% to Rs. 6 arba 53 crore
- Operating income: Increased by 8.25% to Rs. 8 arba 83 crore
- Operating profit: Increased by 23.45% to Rs. 2 arba 95 crore
On the cost side, impairment charges decreased from Rs. 2 arba 22 crore to Rs. 2 arba 3 crore 54 lakh, supporting overall profitability.
Asset Quality Improvement
The bank’s asset quality also showed improvement:
- Non-performing loan (NPL) ratio: Decreased by 0.33 percentage points to 3.71%
Deposit and Lending Position
During the review period, Siddhartha Bank collected Rs. 3 kharba 3 arba in deposits and disbursed Rs. 2 kharba 30 arba in loans, reflecting stable growth in core banking operations.
Capital and Earnings Position
- Paid-up capital: Rs. 18 arba 29 crore
- Distributable profit: Rs. 2 arba 99 crore 94 lakh
- Reserve fund: Rs. 17 arba 26 crore
- Earnings per share (EPS): Increased by Rs. 2.49 to Rs. 17.62
- Net worth per share: Rs. 216.73
Overall, Siddhartha Bank delivered improved financial performance in the third quarter, driven by better operating income, reduced impairment costs, and stable asset quality.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
COMMENTS