Commercial banks earn Rs 41.25 billion in third quarter, profit rises by 1.4%

KATHMANDU: All 20 commercial banks in Nepal have published their third-quarter financial reports, revealing a modest increase in profits compared to the same period last year.

According to the publicly available data, commercial banks collectively earned a net profit of Rs 41.25 billion from Shrawan to mid-Chaitra of the current fiscal year. This marks a 1.4% increase from the Rs 40.68 billion profit recorded during the same period in the previous fiscal year.

Out of the 20 commercial banks, 11 banks posted profit growth, while 9 banks saw a decline in their earnings.

Nabil Bank emerged as the top earner with the highest net profit of Rs 5.05 billion in the review period.

Based on growth rate, Nepal Bank recorded the most significant profit jump, increasing its net profit 21-fold compared to the same period last year.

On the other hand, NIC Asia Bank reported the steepest drop in profit, with earnings plummeting by 91.8%.

The modest overall growth in the banking sector’s profitability reflects a mixed financial landscape, with some banks rebounding strongly while others grapple with declining earnings.