Kathmandu, January 14:

Sanima Bikash Bank Ltd (SBBL) has posted a sound growth of over Rs 13.36 million in its operating profit during the fiscal year of 2005-06. It is 46 times up against the growth of previous fiscal.

The bank earned a net profit of over Rs 8.78 million, which is 33 per cent times more than the previous year.

The main source of the bank’s income are interest on loans and other income, which rose by 403 per cent and 31 per cent respectively, said Badri Prasad Ojha, chairman of the bank, at the second annual general meeting of SBBL, today.

The bank’s deposit reached Rs 749.99 million during the period, registering a growth of 214 per cent against the previous year. The loan investment during the period also increased significantly by 202 per cent to Rs 751.04 million.

The bank had floated loans worth Rs 248.16 million in the last fiscal.

Ojha also informed that SBBL has a nil non-performing loans since its inception two years ago. The bank made an operating profit of Rs 12.2 million during the first five months of the current fiscal year and projected deposit mobilisation of Rs 1451.26 million. Among the future programmes, SBBL will open branch offices in the valley and open ATM counters. For this, the bank has already signed an agreement for a participant member with VISA, said Ojha.