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16Th Annual Report 2019/20

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16Th Annual Report 2019/20 16th Annual Report 16 th 2019/20 Annual Report 2019/20 ‘Alkapuri’ Naxal, Kathmandu, Nepal Phone: +977-1-5970033, Fax: +977-1-4428969 Email: [email protected] www.sanimabank.com Financial Highlights Deposit (NPR. In Billion) Loans and Advances (NPR. In Billion) 93.69 110.10 92.28 83.44 79.18 69.24 58.23 51.84 46.42 40.90 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 As at Mid July As at Mid July Investments (NPR. In Billion) Total Assets (NPR. In Billion) 18.71 126.31 16.96 109.06 13.17 91.82 10.73 9.16 70.00 55.96 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 As at Mid July As at Mid July Shareholders Fund (NPR. In Billion) Net Interest Income (NPR. In Million) 12.82 11.99 4,208.70 4,189.69 10.79 3,015.52 9.06 2,242.12 5.35 1,722.30 2016 2017 2018 2019 2020 2015/16 2016/17 2017/18 2018/19 2019/20 As at Mid July Fiscal Year Operating Profit (NPR. In Million) Net Profit (NPR. In Million) 3,224.90 2,285.10 2,415.20 2,529.85 1,697.50 1,776.26 1,998.10 1,304.10 1,478.50 996.05 2015/16 2016/17 2017/18 2018/19 2019/20 2015/16 2016/17 2017/18 2018/19 2019/20 Fiscal Year Fiscal Year Financial Highlights Non Performing Loans (%) CAR (%) 15.57 13.00 0.450 12.36 12.41 13.19 0.080 0.019 0.010 0.030 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 As at Mid July As at Mid July ROE (%) DPS (%) No. of Branches No. of ATM 78 81 22.69 23.20 16.09 74 16.00 18.67 79 74 21.05 47 53 69 15.79 14.39 14.00 13.60 40 46 2015/16 2016/17 2017/18 2018/19 2019/20 2016 2017 2018 2019 2020 Fiscal Year As at Mid July Composition of Income Composition of Expenses Interest Interest Forex Personnel 11% Others Income Tax Others 3% 7% 91% 6% 67% 15% Contents S.N. Particulars Page No. 1 Profile 1 2 Chairman's Speech 2 3 Director's Report 3 4 Additional Disclosures as per section 109 of the Companies Act, 2063 11 5 Disclosure Related to Sub Rule (2) of Rule 26 as per annexure 15 of Securities Registration and Issuance Regulation, 2073 13 6 Independent Auditor's Report 15 7 Consolidated Statement of Financial Position 19 8 Consolidated Statement of Profit or Loss 20 9 Consolidated Statement of Other Comprehensive Income 21 10 Consolidated Statement of Cash Flows 22 11 Consolidated Statement of Changes in Equity 23 12 Notes to the Financial Statements and Significant Accounting Policies 25 13 Disclosures and Additional Information 80 14 Comparision-Unaudited and Audited Financial Statements of FY 2018/19 95 15 Capital Adequacy 96 16 Sanima Capital's Financial Statements 105 Profile Sanima is a leading commercial bank in Nepal, promoted by prominent Non-Resident Nepali’s (NRNs) that commenced Sanima recognizes that in the capacity of a commercial operations in 2004 as a National Level Development Bank. bank, it is an inevitable part of the society’s economic organ Since February 2012, Sanima has upgraded to an "A" Class and it draws on societal resources for day to day functioning. Commercial Bank with its registered office at 'Alakapuri', The bank is a trustee of public money in addition to being Naxal, Kathmandu, Nepal. a corporate body. Therefore, apart from its core objectives, the bank has certain obligations to contribute to society as a Sanima is committed to provide one window financial whole. Sanima believes in creating societal impact through solutions to various customer segments and to achieve a replicable, sustainable and scalable CSR programmes. healthy level of growth in profitability, consistent with the bank's risk appetite. The Bank has displayed dedication Capital Structure NPR towards maintaining the highest level of ethical standards, Authorized Capital 9,000,000,000 professional integrity, corporate governance and regulatory compliance. Consequently, Sanima is perceived as a strong Issued Capital 8,801,380,984 and reliable player in the banking industry. Sanima has Paid Up Capital 8,801,380,984 always been committed to meet customer expectations in all areas of its business through continuous improvement. Sanima Bank offers a wide range of banking products and financial services to corporate and retail customers through 83 full-fledged branches and 16 extension counters spread across the geography of Nepal. The bank is actively exploring alternative channels and also expects to add more branches in the coming days. Annual Report 2019/20 Chairman's Speech Respected Shareholders, It gives me immense pleasure to welcome our shareholders and the lives of individuals, we remain committed in Nepal’s economic guests joining us in person as well as virtually to the 16th Annual growth by supporting our clients and customers in various ways. General Meeting of Sanima Bank Limited. The outspread of On the corporate social responsibility front, Sanima Bank has been COVID-19 around the world has affected the Nepalese economy. contributing to deprived communities through activities in the areas This has resulted in unfavorable variances on the performances of of health & education and is also aiming to extend continuity to the our bank as well in the Fiscal Year 2019/20. same. The bank shall continuously focus on Technology, Human Resource Management, Risk Management, Enhanced Customer Government of Nepal imposed a nation-wide lock down to combat Satisfaction etc. to grow in a strong and sustainable manner. the Corona Virus pandemic starting from Chaitra 11, 2076. Although the lockdown has been lifted, there are signs of sluggishness in Achievement and activities of the bank till date have been the economy. Banking sector is one of the highly affected sectors disclosed in detail in the ‘Annual Report of Board of Directors’. due to pandemic. The pandemic has adversely affected the Bank's We remain focused on improving our service to our clients, performance due to reduced fee and commission income as well generating strong returns for our investors and contributing as minimal realization of accrued interest. There has been a spike even more to the communities in which we operate. However, in risk level in the Bank with the deterioration in the asset quality. we are not in a position to assess the impact of COVID-19 on In addition to this, interest income has shrank due to the interest national economy yet. Despite of the fact that pandemic has rebate of NPR 400 million provided to the borrowers in line with the hindered the economic prosperity and development activities in directives issued by Central Bank. Besides this, bank has set aside the country, we are hopeful that soon after the impact of the around NPR 800 million for Loan Loss Provisioning. pandemic is over, industries, business, trade, agriculture and overall economy will prosper. Despite huge competition in the banking industry, Sanima Bank has been able to maintain successful identity in financial sector while I express my sincere gratitude to all our shareholders and guests efficiently managing both cost and capital. For this achievement, for your continued support and cooperation. I would like to extend I would like to thank all shareholders, customers, well-wishers, my heartfelt gratitude to all the stakeholders, Government Entities, employees, other stakeholders and all associated organizations for Nepal Rastra Bank, Securities Board, Office of Company Registrar, their valuable contribution. Nepal Stock Exchange Limited, External Auditors, Media and all well- wishers for their valuable suggestions, feedbacks and continued The Bank (inclusive of Sanima Capital) has generated net profit support. I look forward to continuous guidance from the Board of of NPR One Billion Seven Hundred Sixty Six Million Nine Hundred Directors, dedication and hard work from our staff members, and Eighty Six Thousand in fiscal year 2019/20, a decline by 22.28% on valuable advice, trust & support from all our shareholders and y-o-y basis. It has been proposed to distribute 10% stock dividend stakeholders. and 3.60% cash dividend from the retained earnings. Once again, I welcome you all to this 16th Annual General Meeting As banking plays a crucial role at the heart of the economy and in and wish you prosperity and progress. Thank you! Binaya Kumar Shrestha Chairman November 13, 2020 2 www.sanimabank.com Annual Report 2019/20 Director’s Report Respected Shareholders, B. Country's Macroeconomic Situation Sanima is performing well under proper guidance aligned with Initially, Central Bureau of Statistics had estimated GDP appropriate strategy and has continued to provide reasonable growth of 2.28 percent in FY 2019/20 due to the impact of returns to the shareholders. The Bank’s position has been COVID-19 in overall economy. With the end of Fiscal Year, upgrading in terms of financial indicators and we are making it is estimated to be around zero percent as compared to efforts to be in the frontline. The Bank has been able to generate 7% in the previous year. In order to control and prevent the profit since its inception and despite of various adversities in outspread of COVID-19 around the country, production and the banking sector, it has been able to strengthen its business. distribution process has been obstructed which has shrunk The outspread of COVID-19 around the world has affected the the economy as a whole. Share of agriculture, industry and Nepalese banking industry as well.
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