Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Nepal Rastra Bank (NRB) has reported a 21.96% surge in its profit for the fiscal year 2080/81 BS, compared to the previous year. According to the bank’s recently released annual report, its net income before adjustments for foreign exchange and asset revaluation reached NPR 73.76 billion. This marks a substantial improvement in the central bank’s financial performance.
In a significant move, NRB has decided to transfer over NPR 37 billion to the Government of Nepal. Following the allocation of necessary amounts to various reserve funds, the bank’s board of directors resolved to provide NPR 37.22 billion from its net earnings to the government.
The financial position of the bank has also shown remarkable growth. As of the end of Ashad 2080 BS (mid-July 2023), NRB’s total assets and liabilities increased by 30.15%, amounting to NPR 20.67 trillion. This expansion reflects the bank’s strengthened role in Nepal’s financial system.
The annual report further highlights key developments in foreign investments and loans during the fiscal year. A total of NPR 10.29 billion in foreign investments and NPR 58.96 billion in foreign loans were recorded, emphasizing the central bank’s active engagement in managing international financial flows.
This financial performance underscores NRB’s pivotal role in maintaining economic stability and supporting government finances amid challenging economic conditions. The significant allocation to the government is expected to contribute to ongoing development initiatives and fiscal stability in Nepal.
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