Commercial Banks profit increases by 30% in FY 2072/73; NBL leads with massive Rs 3.01 billion net profit

There are altogether 28 commercial banks in Nepal. All the commercial banks have published their fourth quarter unaudited financial reports. The total profit of the entire commercial banking industry, as of the fourth quarter, illustrates that the net profit of the commercial banks have reached to Rs 36.75 arba. There is a change of 29.95% in fourth quarter compared to same figures of the corresponding quarter of the previous fiscal year. The average net profit of the commercial banks remains at Rs 1.31 arba.9 banks have earned more than average net profit whereas 19 banks earned less than average profits. Top six commercial banks take over 42.39% of the total net profit earned by all the commercial banks. Their net profit is more than Rs 2 arba. . Net profit of 18 commercial banks is more than Rs 1 arba and 10 Banks are below Rs 1 arba. Among all the commercial banks, Nepal Bank has earned highest net profit in Q4. It earned Rs 3.01 arba in Q4 of FY 2072/73.In same quarter last year, Rastriya Banijya Bank had earned the highest net profit of Rs 4.64 arba compared to all commercial banks. Rastriya Banijya Bank and Agricultural Development Bank which are among the top five commercial banks have however shown less net profit in the fourth quarter of the FY 2072/73 compared to the corresponding quarter previous fiscal year. Except 3 banks all the commercial banks have increased their net profit. Rastriya Banijya Bank, Agricultural Development Bank and Standard Chartered Bank are among the three banks which earned less net profitin this Q4 quarter compared to the Q4 of the previous fiscal year. Nepal Bank Limited has managed to increase its net profit in amount and in percentage as well. Its net profit changed by Rs 2.53 arba. Nepal Bank sold its assets and cross holdings which helped the company to increase its net profit. Himalayan Bank Limited net profit increased by  Rs 80.03 crore in this Q4 compared to previous year corresponding quarter. It earned a net profit of Rs 1.91 arba in Q4 of the fiscal year 2072/73. On the basis of percentage change,6  banks managed to increase their profit by more than 100%. The highest percentage was gained by Nepal Bank Limited .The net profit of Nepal Bank increased by 524% in Q4 of FY 2072/73. Likewise, Bank of Kathmandu Lumbini Limited and NMB Bank’s net profit has increased by 127% and 124% respectively. Rastriya Banijya Bank’s net profit highly decreased in amount and in percentage as well.