Siddhartha Bank Reports 4.54% Growth in Annual Profit, Deposits Cross Rs. 3.27 Kharba

Siddhartha Bank Limited (SBL) has reported a net profit of Rs. 3.39 Arba for the fiscal year 2082/83, registering a 4.54% year-on-year growth compared to the previous fiscal year. The improvement in profitability was primarily driven by a 7.24% increase in net interest income, which climbed to Rs. 9.05 Arba from Rs. 8.43 Arba a year earlier. The bank's deposit base expanded by 16.66% to Rs. 3.27 Kharba, while loans and advances to customers increased by 9.05% to Rs. 2.33 Kharba. Total reserves rose by 12.52% to Rs. 16.92 Arba, although retained earnings declined by 7.19% year-on-year to Rs. 1.70 Arba. Operating profit increased by 3.78% to Rs. 5.16 Arba, despite a 28.44% rise in impairment charges to Rs. 1.76 Arba. Meanwhile, the bank improved its funding efficiency, with the cost of funds declining to 3.42% from 4.39% in the previous year. Among the key financial indicators, earnings per share (EPS) stood at Rs. 21.84, while net worth per share reached Rs. 225.90. The bank's capital adequacy ratio improved to 13.19% from 11.77%, whereas the non-performing loan (NPL) ratio edged up to 3.53% from 2.62%. At the end of the fiscal year, Siddhartha Bank's shares were trading at Rs. 395, translating into a price-to-earnings (P/E) ratio of 18.09 times. Report: Major Financial Highlights:

Particulars (In Rs '000) Siddhartha Bank Limited

Q4 2082/83 Q4 2081/82 Difference

Paid Up Capital 18,294,479.20 14,089,980.19 21.33%

8.25% Preference Share 3,500,000.00

0.00%

Paid Up Excluding Pref. Share 14,794,479.20

Retained Earnings 1,705,671.17 1,837,866.59 -7.19%

Reserves 16,920,048.50 15,037,580.05 12.52%

Deposit 327,016,400.52 280,321,367.83 16.66%

Loans & Advances  233,872,635.25 214,456,490.82 9.05%

Net Interest Income 9,051,188.76 8,439,860.18 7.24%

Personnel Expenses 3,532,336.57 3,240,211.11 9.02%

Impairment Charges 1,766,436.18 1,375,321.98 28.44%

Operating Profit 5,162,720.29 4,974,846.34 3.78%

Net Profit 3,519,409.80 3,366,594.28 4.54%

Distributable Profit/ (Loss) after P/L Appropriation and Regulatory Adjustments  1,705,671.17 1,837,866.59 -7.19%

Capital Adequacy (%) 13.19 11.77 12.06%

NPL (%) 3.53 2.62 34.73%

Cost of Fund (%) 3.42 4.39 -22.10%

EPS  (In Rs.) 21.84 35.31 -38.15%

Net Worth per Share (In Rs.) 225.90 219.97 2.69%

Qtr end PE Ratio (times) 18.09

Qtr End Market Price 395