Commercial Banks Earn Rs 36.67 Billion in Net Profit in First Seven Months

Kathmandu – The 20 commercial banks currently operating in Nepal have collectively earned a profit of Rs 36.67 billion in the first seven months(mid-July to mid-February) of the current financial year. This marks a 1.62% increase compared to the same period of the previous financial year, when the banks had posted a profit of Rs 35.492 billion.

According to data from Nepal Rastra Bank, the profit trend among commercial banks has been mixed, with 10 banks recording higher profits while the other 10 saw a decline. Nabil Bank emerged as the highest profit earner in the first seven months of the current fiscal year, increasing its profit by 0.62% to Rs 4.011 billion, up from Rs 3.98 billion in the same period last year.

Global IME Bank secured the second position, increasing its profit by 45.01% to Rs 3.89 billion. Nepal Investment Mega Bank ranked third with a 44.52% rise in profit, reaching Rs 3.43 billion. Everest Bank secured the fourth spot with a 29% increase, posting a profit of Rs 2.57 billion. Nepal Bank ranked fifth with an impressive 156.31% growth, recording Rs 2.45 billion in profit, while NMB Bank reported a 41% rise, reaching Rs 2.34 billion.

However, some banks reported a decline in profit during this period. Prime Bank’s profit dropped by 14.31% to Rs 2.18 billion, while Standard Chartered Bank’s profit fell by 5% to Rs 1.83 billion.

On the other hand, Prabhu Bank nearly doubled its profit with a 97% increase, reaching Rs 1.83 billion. Laxmi Sunrise Bank’s profit rose by 12% to Rs 1.58 billion, and Nepal SBI Bank recorded a 28% increase, posting a profit of Rs 1.09 billion.