KATHMANDU: Commercial banks have increased their net profit in the first half of the current fiscal year.
The combined earning of all Class A commercial banks stands at Rs 33.46 billion (excluding Himalayan Bank) in the first six months of this fiscal, which is seven to 70 percent more than what was reported in the corresponding period of the last fiscal.
As of mid-January 2022, Global IME Bank secures the top spot among the most profitable banks, posting a net profit of Rs 2.66 billion. The bank had earned Rs 2.31 billion in the first six months of the previous year.
The second-most profitable bank is NIC Asia Bank. It earned Rs 2.40 billion in first six months of this year against Rs 2.6 billion in the review period last year. Given its aggressive business expansion, NIC Asia has surpassed even Nabil Bank and Rastriya Banijya Bank in terms of booking net profit.
Similarly, Nabil Bank posted a net profit of Rs 2.18 billion in the first six months; the state-owned Rastriya Banijya Bank (RBB) documented a profit of Rs 1.92 billion. In the corresponding period last fiscal, Nabil earned Rs 2.1 billion and RBB secured Rs 1.75 billion.
NMB Bank stands as the fifth most profitable bank. NMB Bank has earned a net profit of Rs 1.71 billion as of mid-January this year as against Rs 1.61 billion in the same period last year.
Himalayan Bank is yet to make public its financial statement for current fiscal. The bank had entered an agreement to merge with Nepal Investment Bank last year; however, of late the merger could not be realized. It had posted a net profit of Rs 653.2 million in the first six months of the previous fiscal.
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