The third quarter report for Fiscal Year 2075/76 has been released by Sunrise Bank. The bank’s net profit increased by 31% from the previous year’s corresponding period, according to the unaudited quarterly report. The profit has increased from Rs. 94 crores to Rs. 1.23 billion rupees. The increase in net profit is attributed to a 37.50 percent increase in net interest income. Until the third quarter of this fiscal year, the bank expects to earn Rs. 2.64 Arba in net interest income.
Sunrise Bank has a paid-up capital of Rs. 8.15 Arba and liquidity and surplus of Rs. 3.63 Arba. In the first nine months of this fiscal year, deposits and loans grew by 7.17 percent and 16.23 percent, respectively. Deposits and loans total Rs. 72.20 Arba and Rs. 68.82 Arba, respectively.
The company’s annualized earnings per share (EPS) has increased by 30% to Rs. 20.05. NPLs and the base rate have also decreased to 1.37 percent and 10.43 percent, respectively.
Financial Highlights of Sunrise Bank for 3rd Quarter, 2075/76
|Headings||3rd Qtr, F.Y. 2075/76||Ashar end, F.Y. 2074/75||% Change|
|Paid up capital(Rs.’ Arba’)||8.15||8.15||0.00|
|Reserve and Surplus(Rs.’ Arba’)||3.63||3.40||6.76|
|Loans & Advances(Rs.’Arba’)||68.82||59.21||16.23|
|Headings||3rd Qtr, F.Y. 2075/76||3rd Qtr, F.Y. 2074/75||% Change|
|Net Interest Income(Rs.’Arba’)||2.64||1.92||37.50|
|Net Profit(Rs.’ Arba’)||1.23||0.94||30.85|
|Distributable Profit(Rs.’ Arba’)||0.91||–||–|
|Earnings Per Share, EPS(Rs.)||20.05||15.41||30.11|
|Non Performing Loans, NPL(%)||1.37||1.45||-5.52|