NRB Report Highlights Commercial and Development Banks' Net Profits up to Magh; NABIL Tops the Charts Once More

Nepal Rastra Bank has recently released statistics detailing the financial performance of commercial banks and development banks for the initial seven months of the current fiscal year 2080/81, ending in Magh.

Commercial Banks:

In the first seven months of the fiscal year 2080/81, the collective net profit of commercial banks in Nepal amounted to Rs. 35.49 Arba. Notably, Nabil Bank emerged as the frontrunner, securing the highest net profit of Rs. 3.98 Arba. Rastriya Banijya Bank followed closely with earnings of Rs. 2.683 Arba, and Global IME Bank secured the third position with a net profit of Rs. 2.682 Arba during this period.

In contrast, Nepal SBI Bank reported the lowest net profit among commercial banks, standing at Rs. 85.24 Crores.

Development Banks:

Despite facing losses reported by four out of the 17 banks in this category, the development banking sector in Nepal recorded a net profit of Rs. 2.85 Arba. Garima Bikas Bank showcased remarkable performance, reporting an impressive net profit of Rs. 55.8 crore. Muktinath Bikas Bank closely followed with earnings of Rs. 53.23 crore.

On the flip side, Green Development Bank and Corporate Development Bank reported the lowest profits in the sector, with earnings of Rs. 1.6 crores and Rs. 1.07 crores, respectively. Notably, Narayani Development Bank, Saptakoshi, Salapa, and Excel Development Bank faced challenges as they grappled with net losses during the same period.