Kathmandu, July 12: Nepal’s 20 commercial banks posted a combined net profit of Rs 64.56 billion in the first 11 months of the current fiscal year, up 19.62 percent, or Rs 10.59 billion, from Rs 53.97 billion during the same period last year.
According to Nepal Rastra Bank, 14 banks recorded higher profits, while six reported declines.
Nabil Bank remained the country’s most profitable lender, with net earnings rising 32.51 percent to Rs 8.49 billion.
Kumari Bank posted the strongest growth, with net profit surging 1,168 percent to Rs 4.70 billion from just Rs 371 million a year earlier.
Other banks reporting strong profit growth included Prime Bank, up 29.06 percent to Rs 3.74 billion, Rastriya Banijya Bank, up 68 percent to Rs 3.72 billion, NMB Bank, up 19.78 percent to Rs 3.63 billion, Nepal Bank, up 8.37 percent to Rs 3.32 billion, Sanima Bank, up 44.84 percent to Rs 3.12 billion, Laxmi Sunrise Bank, up 12.17 percent to Rs 2.89 billion, Siddhartha Bank, up 26.30 percent to Rs 2.80 billion, Machhapuchchhre Bank, up 44.25 percent to Rs 2.17 billion, Agricultural Development Bank, up 7.67 percent to Rs 1.95 billion, Nepal SBI Bank, up 18.66 percent to Rs 1.83 billion, Citizens Bank International, up 23.71 percent to Rs 1.74 billion, and Himalayan Bank, up 28.59 percent to Rs 1.16 billion.
Among the six banks reporting lower earnings, NIC Asia Bank recorded the steepest decline, with profit plunging 38.81 percent to Rs 500 million.
Prabhu Bank’s profit fell 34.91 percent to Rs 1.50 billion, Nepal Investment Mega Bank dropped 21 percent to Rs 4.49 billion, Everest Bank declined 2.76 percent to Rs 4.12 billion, Standard Chartered Bank Nepal slipped 3.74 percent to Rs 2.62 billion, while Global IME Bank’s profit edged down 0.96 percent to Rs 5.97 billion.
People’s News Monitoring Service
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