4th Quarter Report and Financial Analysis of Siddhartha Bank

Kathmandu, Aug 6

Siddhartha Bank Limited has posted net profit of Rs.796.57 million and published its 4th quarter company analysis of the fiscal year 2070/71.

3rd Quarter Report and Financial Analysis of Siddhartha Bank

Kathmandu, May 3

Siddhartha Bank Ltd. has posted net profit of Rs. 363.561 million during the 3rd quarter of fiscal year 2070/71

2nd Quarter Report and Financial Analysis of Siddhartha Bank Limited

Kathmandu, Jan 30

Siddhartha Bank Limited has posted net profit of Rs.242.77 million and published its 2nd quarter company analysis of the fiscal year 2070/71.

Siddhartha Bank announces book closure from today

Kathmandu, Jan 2

Siddhartha Bank Limited has announced book closure from today for its 12th Annual General Meeting slated for January 28.


The AGM to be held at Trade Tower at Thapathali in Kathmandu is due to endorse 22 percent dividend, including 12 percent bonus shares pledged by the commercial bank to the shareholders from the net profit the bank posted in the current fiscal year 2069/70.

Siddhartha Bank had reported 49.43 percent growth in profit in

Siddhartha Bank AGM on Jan 28; Total 22% bonus and cash dividend

Kathmandu, Dec 26-

Siddhartha Bank Limited has announced its Annual General Meeting to be held on January 28, 2014. which, will endorse 22 percent dividend, which includes 12 percent bonus shares to the shareholders from the net profit the bank earned in the fiscal year 2069/70.

The 12th AGM of the commercial bank will be held at Trade Tower at Thapathali in Kathmandu.

Siddhartha Bank has reported 49.43 percent growth in profit in the last fiscal year. 

The bank earned a profit of Rs 49.04 crore in the

NEA borrows Rs 500m from Mega, Siddhartha

KATHMANDU, DEC 12 - 2011

With the government refusing to give more money to the loss-making Nepal Electricity Authority (NEA), the public utility has taken emergency loans from two banks on the basis of competitive interest rates for six months.

The cash-strapped NEA has borrowed Rs 500 million from Mega Bank and Siddhartha Bank. Eleven commercial banks had offered to loan it money and quoted interest rates ranging form 9.99 percent to 12.5 percent per annum.

Mega had quoted an interest rate of 9.99 percent per annum for a loan of Rs 200 million, 10.49 percent for another Rs 75 million, and 10.49 percent for a further Rs 75 million. Likewise, Siddhartha Bank had quoted 10 percent for Rs 200 million.

Energy secretary and chairman of the NEA Bala Nanda Poudyal said the authority was able to get credit from the banks at a relatively cheaper rate as they were awash in liquidity. “The NEA was facing a cash crunch and we wanted to repay our outstanding debts,” added Poudyal.

The NEA has a cumulative loss of Rs 24 billion, and its average annual loss stands at Rs 6 billion.

As Mega and Siddhartha offered loans at a relatively lower interest rate, the public utility chose to borrow money from them. Other banks which offered credit to the NEA were Nabil, Commerz and Trust, Everest, Laxmi, NIC, Kist, Janata, NMB and Himalayan.

Banks saw the NEA as an opportunity with their surplus liquidity and government securities and inter-bank lending not looking so inviting. The inter-bank lending rate stands at just 1 percent.

Mega’s average cost of funds is 9.69 percent, according to the bank’s first quarter un-audited financial highlights. It will get just over 10 percent on its Rs 300 million loan to the NEA.

“As the NEA is a government backed institution, only sovereign risk is associated with such lending; so we decided to lend to the NEA despite a low spread and its poor financial health,” said a senior official at Mega Bank. “We extended credit to the NEA not only to earn interest but also to help it to operate smoothly.”

According to Shambhu Nath Gautam, general manager of Siddhartha Bank, the lending was done from short-term funds acquired at low cost. “It is natural to get a low rate of interest while making short-term lending,” said Gautam.

Source: Kantipur