Sunrise Bank reports decent profit growth; Dividend payable capacity of 15 percent

April 30, 2019 | Investopaper

Sunrise Bank has published the third quarter report of F.Y. 2075/76. On the basis of the unaudited quarterly report, the net profit of the bank has improved by 31 percent from the corresponding quarter previous year. The profit has grown from Rs. 94 crores to Rs. 1.23 Arba. The rise in net profit is due to the increase in Net Interest Income by 37.50 percent. The bank is able to generate net interest income of Rs. 2.64 Arba until the third quarter of this fiscal year.

Sunrise bank has paid-up capital of Rs. 8.15 Arba with Rs. 3.63 Arba in reserves and surplus. The deposits and loans have grown by 7.17 percent and 16.23 percent in the 9 months of this fiscal year. The deposit collections and loans stand at Rs. 72.20 Arba and Rs. 68.82 Arba.

The Annualized Earnings Per Share (EPS) has grown by 30 percent to Rs. 20.05. The Non-Performing Loans (NPL) and Base rate have declined to 1.37 percent and 10.43 percent respectively.

Until the third quarter, the bank has a distributable profit of Rs. 91 crores which give the bank ability to provide almost 15 percent dividend to the shareholders (Note: The distributable profit is annualized)

Sunrise Bank: Financial Highlights of 3rd Quarter, 2075/76

                Headings 3rd Qtr, F.Y. 2075/76 Ashar end, F.Y. 2074/75 % Change
Paid up capital(Rs.’ Arba’) 8.15 8.15 0.00
Reserve and Surplus(Rs.’ Arba’) 3.63 3.40 6.76
Deposits(Rs.’Arba’) 72.20 67.37 7.17
Loans & Advances(Rs.’Arba’) 68.82 59.21 16.23


                Headings 3rd Qtr, F.Y. 2075/76 3rd Qtr, F.Y. 2074/75 % Change
Net Interest Income(Rs.’Arba’) 2.64 1.92 37.50
Net Profit(Rs.’ Arba’) 1.23 0.94 30.85
Distributable Profit(Rs.’ Arba’) 0.91
Earnings Per Share, EPS(Rs.) 20.05 15.41 30.11
Non Performing Loans, NPL(%) 1.37 1.45 -5.52
Base rate(%) 10.43 11.34 -8.02


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