National-Level Development Banks Earn Over Rs 3 Billion in Nine Months

Kathmandu — The profit of national-level development banks has exceeded Rs 3 billion in the third quarter of the current fiscal year 2081/82. According to financial reports published by the banks, eight national-level development banks operating in the country collectively earned a net profit of Rs 3.69 billion in the first nine months.This marks a 4.35 percent growth compared to the same period of the previous fiscal year.

Garima Bikas Bank leads with the highest profit, reporting a 7.32 percent increase to Rs 733.49 million, up from Rs 683.46 million in the same period last year. Muktinath Bikas Bank follows closely behind, reporting a profit of Rs 724.8 million, although this reflects a 16.86 percent decline year-on-year.

Shine Resunga Development Bank reported a profit of Rs 514 million, showing only a marginal decrease of 0.13 percent from last year. Kamana Sewa Bikas Bank saw significant growth, with its profit rising by 48.83 percent to Rs 493.1 million. Similarly, Mahalaxmi Bikas Bank posted a 16.87 percent increase, reaching Rs 436.5 million.

Notably, Jyoti Bikas Bank and Shangrila Development Bank recorded the highest growth rates in profit. Jyoti Bikas Bank’s net profit surged by 101.14 percent to Rs 306.6 million, while Shangrila’s profit jumped by 61.19 percent to Rs 434.2 million.

In contrast, Lumbini Bikas Bank witnessed the steepest decline, with its profit plunging by 85.45 percent to Rs 49.7 million.