NRB publishes financial results of commercial and development Banks; Nabil leads the way

KATHMANDU: The Nepal Rastra Bank (NRB) has published data revealing the financial performance of commercial banks and development banks for the first four months of the ongoing fiscal year 2080/81, concluding in the Nepali month of Kartik (mid-November).

Commercial Banks: During the initial four months of the fiscal year 2080/81, the combined net profit of commercial banks in Nepal reached Rs. 21.62 Arba.

Notably, Nabil Bank took the lead, securing the highest net profit of Rs. 2.17 Arba.

Global IME Bank closely followed with earnings of Rs. 1.95 Arba, and NIMB secured the third position with a net profit of Rs. 1.87 Arba during this period.

In contrast, Siddhartha Bank reported the lowest net profit among commercial banks at Rs. 33.38 Crores.

Despite four out of the 17 banks incurring losses in this category, the development banking sector in Nepal recorded a net profit of Rs. 1.26 Arba.

Muktinath Bikas Bank exhibited remarkable performance, reporting an impressive net profit of Rs. 31.6 crore.

Shine Resunga Development Bank closely followed with earnings of Rs. 25.05 crore. Conversely, Corporate Development Bank and Sindhu Bikas Bank reported the lowest profits in the sector, with earnings of Rs. 71.8 Lakhs and Rs. 87.3 Lakhs, respectively.

Notably, Narayani, Saptakoshi, Salapa, and Excel Development Bank faced challenges as they grappled with net losses during the same period.