Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: In the second quarter of the current fiscal year, commercial banks in Nepal have recorded a net profit of approximately NPR 27.44 billion. This marks a decline of around 4.6 percent compared to the same period last year, when the banks had achieved a net profit of nearly NPR 29 billion.
The decline in profit is attributed to the increase in provisioning mandated by the Nepal Rastra Bank.
In the second quarter of the ongoing fiscal year, Nabil Bank achieved the highest net profit of NPR 3.24 billion. Similarly, Global IME Bank secured the second position with a net profit of NPR 3.05 billion. Nepal Investment Mega Bank ranked third with a net profit of NPR 2.83 billion.
Other banks’ net profits include:
Everest Bank: NPR 2.07 billion NMB Bank: NPR 2 billion Prime Commercial Bank: NPR 1.87 billion Standard Chartered Bank: NPR 1.64 billion Himalayan Bank: NPR 1.52 billion Prabhu Bank: NPR 1.34 billion Additional profits were reported as follows:
Sanima Bank: NPR 1.19 billion Laxmi Sunrise Bank: NPR 1.16 billion Agricultural Development Bank: NPR 960 million Nepal SBI Bank: NPR 900 million Machhapuchchhre Bank: NPR 800 million Rastriya Banijya Bank: NPR 760 million Citizens International Bank: NPR 660 million Siddhartha Bank: NPR 530 million
At the bottom, Kumari Bank posted a net profit of NPR 275.7 million, and NIC Asia Bank recorded a net profit of NPR 151.7 million.
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