Commercial banks earn net profit of over Rs 42 billion

KATHMANDU, APRIL 10: Commercial banks in the country have collectively recorded a net profit exceeding Rs 42.20 billion during the first 8 months of this fiscal year. Presently, there are 20 such banks operational within the nation.

As per the Nepal Rastra Bank (NRB) data, Nabil emerged as the highest profit earner, with a net profit of Rs 4.72 billion, followed by Global IME, Prime Commercial, and Rastriya Banijya Bank, generating profits of Rs 3.43 billion, Rs 2.88 billion, and Rs 2.87 billion, respectively. Similarly, Nepal Investment Mega, NIC Asia, Everest, Standard Chartered, and Agriculture Development Bank reported net profits of Rs 2.80 billion, Rs 2.54 billion, Rs 2.29 billion, Rs 2.8 billion, and Rs 1.97 billion, respectively.

Furthermore, Agriculture Development Bank, NMB, Himalayan, Laxmi Sunrise, and Siddhartha achieved net profits of Rs 1.97 billion, Rs 1.92 billion, Rs 1.83 billion, Rs 1.82 billion, and Rs 1.69 billion, respectively.

Between mid-July and mid-March of FY 2023/24, Sanima secured a profit of Rs 1.66 billion, Kumari earned Rs 1.42 billion, Prabhu recorded Rs 1.51 billion in profit, and Nepal Bank garnered Rs 1.28 billion. Additionally, net profits for Nepal Bank, Citizens, Machhapuchchhre, and Nepal SBI stood at Rs 1.28 billion, Rs 1.22 billion, Rs 1.16 billion, and Rs 1.8 billion, respectively.