Shine Resunga to acquire Purnima bikas bank
March 11, 2019 | Investopaper
Shine Resunga Development Bank is going to acquire Purnima Bikas Bank. Both the regional banks signed a mutual agreement for the acquisition. After the acquisition, the company name will remain as Shine Resunga development bank.
Until the second quarter of F.Y. 2075/76, Shine Resunga Development bank has paid up capital of Rs. 1.62 arba, and reserve & surplus of Rs. 53.05 crores. The bank has a deposit collection of Rs. 16.10 arba. The loans & advances stand at Rs. 14.52 Arba till the 2nd quarter. The net interest income and net profit are Rs. 40.99 crores and Rs. 19.90 crores. The non-performing loans stand at 0.17%. Also, the Earnings Per Share (EPS) is Rs. 24.53 as of 2nd quarter 2075/76.
Similarly, Purnima Bikas Bank has paid up capital of Rs. 55.13 crores and reserve of Rs. 10.86 crores. The deposits and loans as of second quarter are Rs. 3.36 arba and Rs. 3.05 arba respectively. The net profit is Rs. 3.62 crores with earnings per share (EPS) of Rs. 13.13. The non-performing loans till the second quarter is at 0.57%
