Banks and financial institutions on a profit binge (JBNL, MEGA, LUBL)

ShareSansar, July 24:

Tentative profit figures of some financial institutions indicate that fiscal year 2069/70 was a bonanza year for banks and financial institutions.

Sources told ShareSansar that the latest among the banks making money hand over fist are Janata Bank, Mega Bank and Grand Bank.

All the above banks are set to report significant growth in profits over last year.

Janata Bank is likely to report a profit of Rs 19.77 crore, a significant growth compared to last year’s Rs 5.73 crore.

Mega Bank, which earned Rs 7.18 crore in profits in FY 2068/69, is likely to report a profit figure close to Rs 17 crore.  

Likewise, Grand Bank is also expected to post net profit higher than that of FY 2068/69.

Meanwhile, Lumbini is expected to post an earning of Rs 15 crore, which is a fall in profit from last year’s 19 crore.

Lumbini, Grand and Janata had paid 12% bonus hare, 7% cash dividend and 3.68% cash dividends, respectively, in the FY 2068/69.  

Financial highlights of some of the commercial banks

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