Kathmandu. Sindhu Bikas Bank has published its financial statements for the third quarter of the current fiscal year.
The bank has shown significant progress in all indicators. The bank has earned a net profit of Rs. 78.4 million in the nine months of the current fiscal year. The bank’s net loss in the same period of the previous fiscal year was Rs. 54 million. The capital ratio, which was 8.22 percent in the second quarter, has improved significantly in the third quarter and reached 11.49 percent.
The bank, which was under corrective action as the minimum capital ratio prescribed by Nepal Rastra Bank is less than 10 percent, has said that it is confident that it will be removed from the action after improving its capital. The bank’s earnings per share in mid-Chaitra was Rs. 18.76 rupees, non-performing loan ratio 8.64 percent, liquidity ratio 36.36 percent and net worth per share is Rs. 79.89.
The bank recently held its annual general meeting for the past two fiscal years, and Nepal Rastra Bank has also passed a proposal to issue 116 percent of the existing paid-up capital to bring the minimum paid-up capital prescribed for provincial-level development banks to Rs. 120 million and has submitted it to Nepal Rastra Bank for approval.
Sindhu Bikash Bank is a regional-level development bank with operations in 5 districts including Sindhupalchowk, Kavrepalanchowk, Dolakha, Makawanpur and Chitwan. The bank is currently providing its services through 26 branch offices. The bank’s Chief Executive Officer has been Senior Chartered Accountant Suresh Devkota since last December.
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