Commercial Banks achieve staggering 28.39 percent growth in FY 2071/72 despite of Unfavorable economic conditions
Sharesansar, August 18:
Despite the slowdown of Nepalese economy due to massive April earthquake, the commercial banks are able to increase its net profit by 28.39 percent during the fiscal year 2071/72 compared to the last fiscal year 2070/71.
It’s a very encouraging symptom that the commercial banks are able to increase profit also in extremely unfavorable conditions.
The overall profit of the commercial banks during the fiscal year 2071/72 stood at Rs 26.77 billion, compared to Rs 20.85 billion of last fiscal year 2070/71.
| Top 5 Banks in terms of Profit (Rs. In '000') | |
| Rastriya Banijaya Bank | 4,501,592.00 |
| Nabil Bank Limited | 2,102,953.00 |
| Nepal Investment Bank | 1,974,540.00 |
| Agricultural Dev. Bank | 1,876,193.00 |
| Everest Bank Limited | 1,574,351.00 |
Figure: Top 5 Banks in terms of Net Profit (Rs. In ‘000’)
State-owned Rastriya Banijya Bank (RBB) topped the list of commercial banks in terms of net profit at the end of the fiscal year 2071/72.
According to the unaudited financial report for the fourth quarter, Rastriya Banijya Bank has earned net profit of Rs 4.50 billion, followed by Nabil Bank Limited which earned Rs 2.10 billion as net profit.
Nepal Investment Bank (NIBL) was in the third position with net profit of Rs 1.97 billion, followed by Agricultural Development Bank (Rs 1.87 billion) and Everest Bank Limited (Rs 1.57 billion).
| Top 5 Banks in terms of Growth Rate (%) | |
| Rastriya Banijaya Bank | 159.70% |
| Century Commercial Bank | 85% |
| Sunrise Bank Limited | 54% |
| Lumbini Bank Limited | 42% |
| Machhapuchchhre Bank Limited | 36% |
Figure: Top 5 Banks in term of Growth Rate (%)
Rastriya Banijya Bank (RBB) top the table with staggering 159.70 percent growth compared to last fiscal year, whereas Century Commercial Bank has 85 percent growth and Sunrise Bank Limited has 54 percent growth in net profit.
List of the Bank with Net profit and Growth Rate of Net profit:
| Net profit in Rs. In '000' | |||
| Banks | Q4 2071/72 | Q4 2070/71 | Growth (%) |
| Nepal Bank Limited | 526,123.00 | 1,235,919.00 | -57.43% |
| Rastriya Banijaya Bank | 4,501,592.00 | 1,733,391.00 | 159.70% |
| Agricultural Dev. Bank | 1,876,193.00 | 1,509,461.00 | 24.30% |
| Nabil Bank Limited | 2,102,953.00 | 2,331,446.00 | -9.80% |
| Nepal Investment Bank | 1,974,540.00 | 1,957,008.00 | 0.90% |
| Standard Chartered Bank | 1,294,827.00 | 1,377,472.00 | -6.00% |
| Himalyan Bank Limited | 1,095,595.00 | 1,102,806.00 | -0.65% |
| Nepal SBI Bank | 1,065,438.00 | 922,984.00 | 15.43% |
| Nepal Bangladesh Bank | 792,778.00 | 782,144.00 | 1.36% |
| Everest Bank Limited | 1,574,351.00 | 1,549,698.00 | 1.59% |
| Bank of Kathmandu | 333,889.00 | 514,358.00 | -35.09% |
| NCC Bank Limited | 412,671.00 | 368,578.00 | 11.96% |
| Lumbini Bank Limited | 346,103.00 | 243,254.00 | 42.28% |
| NIC Asia Bank | 692,474.00 | 814,706.00 | -15.00% |
| Machhapuchchhre Bank Limited | 613,436.00 | 450,714.00 | 36.10% |
| Kumari Bank Limited | 352,735.00 | 340,909.00 | 3.47% |
| Laxmi Bank Limtied | 432,089.00 | 481,971.00 | -10.35% |
| Siddhartha Bnak Limited | 763,761.00 | 791,466.00 | -3.50% |
| Global IME Bank | 1,008,982.00 | 1,019,272.00 | -1.01% |
| Citizens International Bank Limited | 723,859.00 | 561,267.00 | 28.97% |
| Prime Commercial Bank Limited | 801,257.16 | 632,373.72 | 26.71% |
| Sunrise Bank Limited | 474,390.00 | 308,015.00 | 54.02% |
| Grand Bank Limited* | -1,606,574.00 | ||
| NMB Bank Limited | 532,781.00 | 433,718.00 | 22.84% |
| Janata Bank Limited* | 88,170.00 | ||
| Mega Bank Limited | 345,612.00 | 310,191.00 | 11.42% |
| Prabhu Bank Limited | 1,035,966.00 | -240,612.00 | -530.55% |
| Civil Bank Limited | 237,545.00 | 246,228.00 | -3.53% |
| Century Commercial Bank Limited | 257,908.00 | 139,507.00 | 84.87% |
| Sanima Bank Limited | 604,197.00 | 453,879.00 | 33.12% |
| Total | 26,774,045.16 | 20,853,719.72 | 28.39% |
(Figures are based on the data published on unaudited quarterly report of the respective banks)
Note: Janata Bank and Grand Bank are yet to publish the 71/72 FY 4th quarterly report.
There are 2 banks whose net profit crosses Rs 2 billion namely Rastriya Banijya Bank Limited and Nabil Bank and also in total 8 banks whose net profit crosses Rs 1 billion mark.
