Commercial banks earn Rs 13.14 billion in profit in first quarter of the Current FY
Kathmandu – Commercial banks in Nepal have earned a total profit of Rs 13.14 billion in the first quarter of the current fiscal year 2082/83, according to the financial statements made public by the banks. The figure represents a double-digit decline compared to the same period last fiscal year, when banks had earned Rs 16.18 billion. Out of the 20 commercial banks, the profits of 15 banks have decreased, while only five have shown growth.
Global IME Bank has secured the top position by earning a profit of Rs 1.85 billion, an increase of 22.92 percent compared to Rs 1.51 billion during the same period last year. Nabil Bank follows in second place with a profit of Rs 1.75 billion, which is 14.57 percent lower than the previous year. Similarly, Prime Bank ranks third with a profit of Rs 1.25 billion, reflecting a 2.20 percent decline. Everest Bank, at the fourth position, has seen its profit rise by 4.57 percent to Rs 1.17 billion, while Kumari Bank, at fifth place, earned Rs 1.56 billion, marking a 2 percent decrease compared to last year.
The government-owned Rastriya Banijya Bank recorded one of the most notable performances, with its profit soaring by 295.72 percent to Rs 598.7 million. Among other banks, NMB Bank earned Rs 915.9 million, a decline of 20.04 percent, while Himalayan Bank reported Rs 702.8 million, down 3 percent. Standard Chartered Bank saw its profit fall by 19.72 percent to Rs 692.1 million, and Nepal Bank posted a slight 2.31 percent decline to Rs 588.2 million. Similarly, Prabhu Bank’s profit dropped by 46.33 percent to Rs 558.4 million, and Nepal SBI Bank’s by 38.43 percent to Rs 501.5 million, whereas Sanima Bank reported an increase of 13.86 percent, reaching Rs 454.9 million.
During the same period, Machhapuchhre Bank posted a profit of Rs 417.9 million, Laxmi Sunrise Bank earned Rs 332.3 million, Siddhartha Bank earned Rs 324 million, NIC Asia Bank earned Rs 122.2 million, Nepal Investment Mega Bank earned Rs 45 million, and Krishi Bikas Bank recorded Rs 573.8 thousand. However, Citizens Bank reported a negative profit, posting a loss of Rs 220.4 million during the three months.