KATHMANDU: Commercial banks in Nepal collectively reported a 21.63 percent increase in net profit, totaling Rs 16.23 billion, according to a recently published financial results for the first quarter of fiscal year 2081/82.
Out of 20 banks, 12 experienced growth in earnings, while 8 saw a decrease.
Nabil Bank topped the list with the highest net profit of Rs 2.05 billion, marking a 39.97 percent increase from the same period last year.
Global IME Bank followed with Rs 1.51 billion in profit, and Nepal Investment Mega Bank secured third place with Rs 1.46 billion.
NIC Asia Bank had the lowest profit, reporting Rs 11.05 crores for Q1 2081/82.
Additionally, Siddhartha Bank achieved the most remarkable improvement, with a staggering 791.46 percent rise in net profit, while Laxmi Sunrise Bank also reported significant growth at 420.53 percent.
In the past three months, the profit margins for several banks have varied significantly.
Global IME Bank reported a profit of 23.36%, while Nepal Bank saw an impressive increase of 322.97%.
Prabhu Bank’s profit was modest at 0.62%, and Laxmi Sunrise achieved a remarkable 420.53%.
Nepal SBI recorded a profit of 70.01%, and Prime Commercial Bank reported 11.75%.
Standard Chartered Bank’s profit was 4.17%, and Kumari Bank experienced a substantial increase of 308.5%.
Notably, Siddhartha Bank’s profit surged by 791.50%, NMB Bank’s rose by 18.94%, Everest Bank’s increased by 44.44%, and Nabil Bank’s profit grew by 39.97%.
In contrast, eight commercial banks experienced a contraction in their profits.
Sanima Bank’s profit decreased by 17.27%, Himalaya Bank saw a decline of 31.22%, and Machhapuchhre Bank’s profit fell by 7%.
Nepal Investment Mega Bank reported a decrease of 3.82%, while Krishi Bikas Bank (Agricultural Development Bank) experienced a contraction of 129.50%. Citizens Bank’s profit declined by 12.55%, NIC Asia saw a drop of 89.06%, and Rastriya Banijya Bank’s profit decreased by 82.40%.
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