Banks’ profits rose by 39 percent; here is the status of 20 banks

KATHMANDU:- Commercial banks earned a profit of Rs 19.11 billion during the first quarter of the fiscal year 2083/84. This is based on the unaudited financial statements released by all 20 commercial banks.

According to the published reports, most banks have shown an improvement in their profits, while some have experienced a slight decline.

During this period, 10 commercial banks have succeeded in earning a net profit of over Rs 1 billion.

Nabil Bank has emerged as the top earner in terms of profit for the first three months of the current fiscal year, recording a net profit of Rs 2.55 billion. In the same period last year, the bank had earned a profit of Rs 1.75 billion.

Global IME Bank, which holds the second position, has earned a profit of Rs 2.31 billion. During the corresponding period of the previous fiscal year, Global had earned a profit of Rs 1.85 billion.

Similarly, the state-owned Rastriya Banijya Bank has shown significant improvement, posting a profit of Rs 1.64 billion, compared to just Rs 580 million the previous year.

Among other banks that earned a profit exceeding Rs 1 billion, Everest Bank recorded Rs 1.25 billion, Prime Commercial Bank Rs 1.18 billion, and Nepal Investment Mega Bank Rs 1.18 billion. Nepal Investment Mega Bank has shown a significant improvement in its profit compared to the Rs 450 million (Rs 45 crore) earned last year.

Similarly, NMB Bank earned a profit of Rs 1.16 billion, Agricultural Development Bank Rs 1.09 billion, Kumari Bank Rs 1.07 billion, and Sanima Bank Rs 1.05 billion.

Citizens Bank, which incurred a loss of Rs 220 million in the first quarter of the last fiscal year, has returned to profitability by earning a profit of Rs 100 million this year. Similarly, Laxmi Sunrise Bank, Prabhu Bank, and Siddhartha Bank have also more than doubled their profits.

Bank Name | Current Year | Previous Fiscal Year

Citizens Bank | 10 crore 27 lakh | 22 crore 4 lakh

Global IME Bank | 2 arba 31 crore 38 lakh | 1 arba 85 crore 86 lakh

Himalayan Bank | 68 crore 48 lakh | 70 crore 29 lakh

Laxmi Sunrise Bank | 65 crore 33 lakh | 33 crore 23 lakh

Nabil Bank | 2 arba 55 crore 51 lakh | 1 arba 75 crore 69 lakh

NIC Asia Bank | 12 crore 74 lakh | 12 crore 21 lakh

Nepal Investment Mega Bank | 1 arba 18 crore 14 lakh | 45 crore 5 lakh

Prime Commercial Bank | 1 arba 18 crore 76 lakh | 1 arba 25 crore 84 lakh

Prabhu Bank: 647.436 million | 365.7 million

Nepal SBI Bank: 558.549 million | 497.6 million

Standard Chartered Bank: 671.469 million | 693.9 million

Everest Bank: 1.2527 billion | 1.1792 billion

Machhapuchhre Bank: 551.141 million | 417.9 million

Nepal Bank: 832.158 million | 588.2 million

NMB Bank: 1.1642 billion | 1.3085 billion

Rastriya Banijya Bank: 1.6498 billion | 588.7 million

Sanima Bank: 1.0514 billion | 454.9 million

Krishi Bikas Bank: 1.0923 billion | 573.8 million

Kumari Bank: 1.0745 billion | 1.0565 billion

Siddhartha Bank: 851.5 million | 324 million