NRB Reports Net Profits of Commercial and Development Banks Till Bhadra of FY 2080/81; GBIME Leading The Chart
Nepal Rastra Bank has unveiled recent statistics covering the net profit of commercial banks, and development banks for up to the first two months of the current fiscal year 2080/81 i.e. Bhadra.
Commercial Banks
During the first two months of the fiscal year 2080/81, commercial banks in Nepal collectively earned a total net profit of Rs. 16.64 Arba.
Among these, Global IME Bank earned the highest net profit, surpassing all others, with Rs. 1.75 Arba. Similarly, Nabil Bank earned Rs.1.56 Arba, NIMB earned Rs. 1.48 Arba, Himalayan Bank earned Rs. 1.23 Arba, and Kumari Bank earned Rs. 1.14 Arba in net profits during this period. These five banks stood out with profits exceeding Rs. 1 Arba.
On the other hand, Nepal SBI Bank and Machhapuchchhre Bank reported the lowest net profits during this period, with Rs. 27.29 Crores and Rs. 37.63 Crores, respectively. Citizens Bank earned Rs. 44.31 Crores and Standard Chartered Bank reported a net profit of Rs. 48.45 Crores.
The net profit of other banks remained above Rs. 50 Crores.
Development Banks
The development banking sector in Nepal achieved a noteworthy net profit of Rs. 1.35 Arba, despite facing losses reported by four out of the 17 banks in this category. Muktinath Bikas Bank emerged as a standout performer, recording an impressive net profit of Rs. 31.28 crore, closely followed by Garima Bikas Bank, which earned Rs. 16.55 crore.
Conversely, Green Development Bank and Salapa reported the lowest profits in the sector, with earnings of Rs. 1.03 Crores and Rs. 40.10 Lakhs, respectively. Additionally, Narayani, Saptakoshi, Excel, and Miteri Development Bank faced challenges as they grappled with net losses during the period.
