Commercial banks earn NPR 17.69 billion in early fiscal year gains

KATHMANDU: Commercial banks in Nepal have collectively posted a net profit of NPR 17.69 billion during the first two months of the current fiscal year, indicating steady growth despite economic challenges. The banking sector saw a rise in profits, with banks earning NPR 9.17 billion in July and NPR 8.52 billion in August.

Nabil Bank took the lead in profitability during this period, overtaking Global IME Bank, which had previously held the top position in July. Nabil Bank reported a net profit of NPR 1.66 billion, making it the highest earner among the commercial banks. Global IME Bank followed closely with NPR 1.56 billion in net profit.

Nepal Investment Mega Bank ranked third, earning NPR 1.41 billion. Meanwhile, Himalayan Bank and Kumari Bank secured the fourth and fifth spots, reporting net profits of NPR 1.16 billion and NPR 1.08 billion, respectively.

Other commercial banks also showed strong performances, including Prime Commercial Bank, which recorded a net profit of NPR 974.7 million, and Prabhu Bank, which earned NPR 913.2 million. Agricultural Development Bank posted a net profit of NPR 887 million, while Rastriya Banijya Bank and Laxmi Sunrise Bank earned NPR 880 million and NPR 864.6 million, respectively.

Among other major players, Everest Bank reported NPR 825.5 million in net profit, followed by NMB Bank with NPR 780 million. Sanima Bank, Nepal Bank Limited, and Standard Chartered Bank also saw significant earnings, with NPR 689.2 million, NPR 678.2 million, and NPR 606.3 million, respectively.

Lower in the rankings, Siddhartha Bank posted a net profit of NPR 605.6 million, and Citizens Bank reported NPR 589.8 million. NIC Asia Bank earned NPR 577.5 million, while Nepal SBI Bank recorded NPR 533.9 million.

Machhapuchhre Bank, with a net profit of NPR 392.4 million, was the lowest earner among the commercial banks during the first two months of the fiscal year.

These earnings reflect the resilience of the banking sector in Nepal, with Nabil Bank setting the pace as the top performer.