Commercial Banks profit surge fuels hope for high dividends
Thu, Aug 15, 2013 12:00 AM on Others,
ShareSansar, Aug 15:
The profit earned by commercial banks increased 40% over last year, raising hopes for a good dividend payout for shareholders.
The combined profit of the commercial banks that have posted their financial statements so far has reached 18 arba, 42 crore, 61 thousand. Last year 28 commercial banks had reported Rs 13 arba 8 crore profit.
Out of those who have published their financial report, profits of two banks -- Agricultural Development Bank and Nabil Bank -- have crossed 2 arba. The net income of six other banks crossed more than 1 arba.
While Lumbini Bank and Nepal Bangaladesh Bank have posted decline in profits, Himalayan Bank, Kist Bank and Nepal Bank Limited have yet to publish their financial details.
Banks had been earning high profits right from the start of the last fiscal. The banks profit increased 41% by Asoj end of the last year. Profit went up by 50 percent in the second quarter ending Poush and by 45% in the third quarter ending Chaitra.
Eight commercial banks must issue bonus shares as they are obliged to raise their paid up capital to Rs 200 crore as mandated by NRB within this fiscal year end.
