NRB Unveils Net Profit Data of Commercial and Development Banks up to Jestha; Commercial Banks Earn Rs. 64.56 Arba

Nepal Rastra Bank has released the financial performance report for commercial and development banks for till the Eleventh month of the fiscal year 2082/83, ending in Jestha.

Commercial Banks:

The collective net profit of commercial banks reached Rs. 64.56 Arba during the review period. Nabil Bank Limited took the lead with a net profit of Rs. 8.49 Arba, followed by Global IME Bank Limited which reported earnings of Rs. 5.97 Arba. Kumari Bank Limited ranked third, posting a net profit of Rs. 4.70 Arba for the period.

Other notable performers include Everest Bank Limited and Nepal Investment Mega Bank Limited, which reported profits in the higher range among the sector.

Meanwhile, NIC Asia Bank Limited recorded the least net profit among commercial banks at Rs.50.7 Crores.

Development Banks:

The development banking sector reported a total net profit of Rs. 7.32 arba, despite several development banks posting losses.

Garima Bikas Bank led the sector with a net profit of Rs. 1.35 Arba, followed by Muktinath Bikas Bank with Rs. 1.26 Arba. Shine Resunga Development Bank secured the third position with earnings of Rs. 1.01 Arba. At the lower end, Narayani Development Bank and Karnali Development Bank recorded minimal earnings, with Rs. 6.07 crores and Rs. 24.59 crores, respectively.

Furthermore, four banks in the development banking sector Salapa Bikas Bank, Sindhu Bikas Bank, Narayani Development Bank and karnali Development Bank reported net losses during the period. Karnali Development Bank posted the highest loss of Rs. 24.59 Crores among the development banks.