All Commercial Banks Profitable in First 5 Months of FY, Development Banks Report Total Net Profit of Rs. 2.43 Arba

Nepal Rastra Bank has unveiled the recent statistics covering the net profit of commercial banks, development banks, and finance companies for up to Mangshir of the current fiscal year 2078/79.

Commercial Banks

Data shows that commercial banks all together have realized a total net profit of Rs. 28 Arba and 20 crores. Out of the 27 commercial banks, NIC Asia stands at the top position with a net profit of Rs. 2 Arba. Likewise, Global IME Bank has realized a net profit of Rs. 1 Arba and 96 crores. Meanwhile, Nabil Bank has realized a net profit of Rs. 1 Arba and 89 crores. On the contrary, Century Commercial Bank has the least net profit of Rs. 40 crores.

Development Banks

Similarly, in the first five months of the current fiscal year 2078/79, development banks have succeeded to make a total net profit of Rs. 2 Arba and 43 crores. Among the 17 development banks, 5 have reported net losses in the period. Muktinath Bikas Bank has realized an impressive net profit of Rs. 46.12 crores, the highest in the industry. Likewise, Garima Bikas Bank stands in the second position with a net profit of Rs. 34.33 crores. Jyoti Bikas Bank, with a net profit of Rs. 33.94 crores, stands in the third position. On the opposite, data of NRB shows that Narayani, Corporate, Sindhu, Salapa, and Saptakoshi Development Bank reported net losses during the period.

Finance

Finance companies have made a net profit of Rs. 54.6 crores. Out of the 17 companies, two finance companies have reported a net loss in the first five months, while the rest 15 are in a profit. Best Finance Company comes first on the list with a net profit of Rs. 12.1 crores. Likewise, Goodwill Finance and ICFC Finance stand in the second and third position with a net profit of Rs. 7.754 crores and Rs. 7.734 crores respectively. Samriddhi Finance and Capital Merchant finance have reported net losses of Rs. 10.46 lakhs and Rs. 35.10 lakhs respectively.