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Nepal SBI Bank earns a net profit of Rs 202 crore

Press Trust of India  |  Kathmandu 

SBI Bank, a subsidiary of State of India, has posted a net profit of Rs 202.35 crore in 2017-18 and mobilised total deposit of Rs 8,422.73 crore, the announced at its Meeting concluded here on Monday.

During the 25th Meeting, the announced 10.79 per cent cash dividends and 5 per cent bonus shares to its shareholders out of the profit earned last year.

"The bank has attained the present position in gradually but steadily in the past 25 years," said a statement issued by the bank on the occasion.

The bank, said, it will leverage its position to expand the customer base by exploring new market segments and expanding delivery channels for its products while at the same time, providing customer service of high standard by enabling its employees.

"The bank's of branches and ATMs will help serve people residing in all areas of This wide range of presence helps the bank build up larger customer base with low cost deposit," it said.

The bank posted net profit of Rs 202.35 crore, registering a growth of 29.32 per cent in the year 2017-18. The bank's operating profit increased to Rs 276.17 crore.

The bank has succeeded in opening 123,584 net new saving accounts during the year, according to the statement. The total number of deposit account has reached 8.32 lakh.

users has reached 66 thousand, registering the growth of 16.63 per cent. The bank mobilised total deposit of Rs 8,422.73 crore and extended loans and advance of Rs 7,523 crore as at the close of the year.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, January 14 2019. 17:30 IST