Development Banks' net profits up by over 13 percent

KATHMANDU, AUGUST 5: For the last fiscal year, national-level development banks in Nepal earned a  total net profit of NPR 5.76 billion. The unaudited financial reports published today by these banks show that the very amount is 13.33% more compared to the previous fiscal year.

There are currently eight national-level development banks in Nepal. According to the regulations, these banks have to release their unaudited financial statements within 21 days of the end of the fiscal year. 

Garima Development Bank reported the highest net profit, amounting to NPR 1.34 billion in 2023/24, up from NPR 1.27 billion in 2022/23. Muktinath Development Bank came second with a net profit of NPR 1.28 billion, an increase from NPR 1.25 billion. The third highest net profit was earned by Sain Rasuwa Development Bank at NPR 697.45 million, a decrease from NPR 758.03 million.

Lumbini Development Bank occupied the fourth position with a net profit of NPR 603.78 million last year, up from NPR 497.67 million the previous year. Kamana Sewa Development Bank came in the fifth position with NPR 603.22 million, a jump from NPR 361.36 million.

The sixth-highest net profit was made by Sangrila Development Bank at NPR 520.47 million last year, up from NPR 270.41 million the previous year. Mahalaxmi Development Bank reported the seventh-largest net profit at NPR 470.14 million, an increase from NPR 377.55 million.

 Jyoti Development Bank came in the last position i.e. 8th  at NPR 246.51 million last fiscal, a decline from NPR 301.81 million the previous fiscal. 

 

 

 

 

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