Sunrise Bank publishes second quarter financial statement, net profit of Rs. 949.4 million

Banking
KATHMANDU
Sunrise Bank has published its financial statements for the second quarter of the current fiscal year. The bank has earned a net profit of Rs 949.4 million. This is an increase of 0.53 percent over the same period last year. The bank had earned a net profit of Rs 944.3 million in the corresponding period last year.
By the end of the year, the bank’s deposits had increased by 2.42 percent to Rs 92.40 billion, while loans had increased by 7.34 percent to Rs 86.96 billion. Similarly, the bank, which has a paid-up capital of Rs 9.48 billion, has accumulated Rs 3.91 billion in the reserve fund and Rs 793.4 million in the share capital fund.The bank’s net interest income declined by 11.31 percent to Rs 1.81 billion, while operating profit rose 0.83 percent to Rs 1.35 billion. The bank’s base rate fell to 7.29 percent from 9.99 percent during the period, while the spread fell to 4.1 percent from 5.14 percent. Earnings per share fell from 21.06 paise to 20.01 paise, while net worth per share reached Rs149.67.

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