Commercial Banks’ Net Profit increases by 43.6% to Rs 9.6 Arba in Q1 of FY 2073/74, Nepal Bank leads with highest profit of Rs 1.16 Arba
Mon, Nov 21, 2016 3:37 PM on Latest, Exclusive, Featured, Company Analysis, Stock Market,
All commercial banks have published their first quarter unaudited financial reports of the fiscal year 2073/74. In total, there are 28 commercial banks in Nepal at present, 2 down from the corresponding quarter last year after Grand Bank and Lumbini Bank went into merger with Prabhu Bank and Bank of Kathmandu respectively.
The total profit of the commercial banking industry as of Q1 of fiscal year 2073/74 has increased to Rs 9.59 arba, up 43.6% from last year’s Rs. 6.68 arba for the same quarter.
Among all the commercial banks, Nepal Bank has earned highest net profit in Q1 this quarter. It has earned Rs 1.16 arba in Q1 of FY 2073/74, which is a 162.42% increase from last year’s Rs. 44.43 crores in the first quarter. The net profit of top five banks accounts for almost 40% of the combined net profit of all commercial banks.
Nepal Bank Limited has managed to increase its net profit in amount and percentage as well. Nepal Bank sold its assets and cross holdings which helped the company to increase its net profit. Nabil Bank Limited leads in the second position after Nepal Bank whose earning has surged by 21.42 percent in this quarter compared to previous year’s corresponding quarter. It earned a net profit of Rs 80.60 crore in Q1 of the fiscal year 2073/74.
On the basis of percentage change, 6 banks have managed to increase their profit by more than 100%. The highest percentage growth was gained by Kumari Bank Limited. The net profit of Kumari Bank has risen by 182.33% in Q1 of FY 2073/74. Likewise, Nepal Bank and NMB Bank’s net profit has increased by 162.42% and 162.07% respectively.
Except 3 banks, all commercial banks have increased their net profit. Rastriya Banijya Bank, Civil Bank and Janata Bank have earned less net profit in this Q1 quarter compared to the Q1 of the previous fiscal year.
Civil Bank’s net profit has massively decreased in amount and in percentage as well.
* Combined Net Profit of the commercial banking industry for the last fiscal year 2072/73 includes the net profits of Lumbini Bank and Grand Bank.
Nepal Bank Limited has managed to increase its net profit in amount and percentage as well. Nepal Bank sold its assets and cross holdings which helped the company to increase its net profit. Nabil Bank Limited leads in the second position after Nepal Bank whose earning has surged by 21.42 percent in this quarter compared to previous year’s corresponding quarter. It earned a net profit of Rs 80.60 crore in Q1 of the fiscal year 2073/74.
On the basis of percentage change, 6 banks have managed to increase their profit by more than 100%. The highest percentage growth was gained by Kumari Bank Limited. The net profit of Kumari Bank has risen by 182.33% in Q1 of FY 2073/74. Likewise, Nepal Bank and NMB Bank’s net profit has increased by 162.42% and 162.07% respectively.
Except 3 banks, all commercial banks have increased their net profit. Rastriya Banijya Bank, Civil Bank and Janata Bank have earned less net profit in this Q1 quarter compared to the Q1 of the previous fiscal year.
Civil Bank’s net profit has massively decreased in amount and in percentage as well.
* Combined Net Profit of the commercial banking industry for the last fiscal year 2072/73 includes the net profits of Lumbini Bank and Grand Bank.
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