Corona Affects Siddhartha Bank

10th August 2020, Kathmandu

There is no surprise that the coronavirus has hit hard on most of the business sectors. Siddhartha Bank Ltd also becomes one of the targets of this crisis. The bank has seen a decline in profit of Rs 16 Crore and 49 lakhs! The results were seen in comparison with the bank’s financial statement of the last fiscal year.

Siddhartha Bank published an unrevised financial statement on Monday which shows that the bank’s net profit is Rs. 2.9 billion to date. Interestingly, the bank’s net profit was Rs. 2.25 billion in the last year’s statement of the same period. Now, the bank’s distributing profit is Rs 866.40 million.

The Bank’s EPS (Earnings per Share) shrinks by Rs 4 to Rs 21.38.

Similarly, the bank’s paid-up capital remains to be Rs. 9.78 billion with a reserve fund of Rs. 5.24 billion.

In spite of the down economy, the bank managed to collect deposits of Rs 139 billion and disburse loans of Rs 123 billion. This is an increment to last year’s Rs 114 billion deposits and Rs 104 billion loans disburse.

Here is some more information from the bank’s statement.

The bad-loan ratio has increased from last year’s 0.75 percent to 1.56 percent this year.

The bank’s EPS stands at Rs. 21.39.

The PE Ratio (Price to Earning) stands at 13.84 times.

Net worth per share is Rs. 163.22.

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