The propose dividend is, however, subject to the approval of Nepal Rastra Bank and the upcoming Annual General Meeting of the commercial bank.
Sunrise Bank had posted a net profit of Rs.31.91 crore in the last fiscal year.
Moreover, the commercial bank had believed a sigh of relief after Agni Air was bought by Simrik Air in October. Agni had failed to pay back Rs 62 crore it had borrowed from three BFIs, including Sunrise Bank.
The deal, which brings all the five aircrafts of Agni Air under Simrik Air, was brokered by the affected Grand Bank, Sunrise Bank and International Leashing and Finance Company, will help recover the bad loan.
Sunrise Bank has also reported a net profit surge of 107 percent in the first quarter of the current fiscal year 2070/71, largely due to its core business.
As per the unaudited report for the first quarter, the commercial bank has earned a net profit of Rs 9.32 crore in the first quarter, up from Rs 4.49 crore in the corresponding quarter of the last fiscal year.
Sunrise Bank has also posted an impressive operational profit of Rs 8.69 crore in the first quarter compared to just Rs 3.65 crore in the corresponding quarter.
It also mobilized Rs 26.01 arba in deposit and Rs 13.60 arba in loan in the first quarter, up from 20.58 arba in deposit and Rs 16.88 arba in loan in the first quarter last year.
Its non performing loan has, however, marginally increased from 2.54 percent to 3.11 percent.
Sunrise Bank’s net worth per share stands at Rs 126.89 and its EPS at Rs 18.51- SSN
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