Tuesday, 7 February, 2023

Commercial banks' profit soars above Rs 42 billion


By Bhesh Raj Belbase, Apr. 5: Commercial Banks have added Rs 6.5 billion profit in Falgun (Mid-February to Mid-March) of the Fiscal Year 2077/78.

The Banks are consistently in profit despite sporadic disruption from Covid-19. They have earned around Rs 42 billion by the end of Mid-March.

According to the Nepal Rastra Bank, the existing 27 Commercial Banks have made Rs 41.9 billion profit by the end of Mid-March. The profit was Rs 35.9 billion until the end of Mid-February.

Nabil bank has bagged the highest profit in the month of Falgun this year. Jumping from the third rank to the first it has earned Rs 3.12882 billion net profit at the end of Mid-March.

Global IME has got the second rank which was behind Nabil Bank in the previous month. It has earned Rs 3.08 billion to secured the position. To securing third place NIC Asia has to bagged Rs. 2.7 billion.

Similarly, NIC Asia, Prime Commercial Bank, NMB Bank and Nepal Investment Bank has been listed in the category of having earned a profit of more than Rs 2 billion. Prime Bank, NMB Bank, and Nepal Investment Bank have earned a profit of Rs 2.4, Rs 2.1 and Rs 2.4 billion respectively.

Similarly, Rastra Bank informed that Nepal Bank, Siddhartha Bank, Prabhu Bank, Mega Bank, Sanima Bank, Agriculture Development Bank, Everest Bank, Machhapuchhre Bank, Kumari Bank, Citizen Bank, Laxmi Bank, Sunrise Bank, Rastya Banijya Bank, made in the slot of profit of more than Rs 1 billion.

However, Nepal Credit and Commerce Bank, Himalayan Bank, Standard Charter Bank, Nepal SBI Bank, Bank of Kathmandu, Century Commercial Bank, Civil Bank, Nepal Bangladesh Bank have earned below Rs 1 billion.

According to NRB, Nepal Bank earned Rs 1.9 billion, Siddhartha Bank Rs 1.5 billion, Prabhu Bank  Rs 1.9 billion, Mega Bank Rs. 1.7, Sanima Bank 1.4 billion and Agriculture Development Bank has earned Rs 1.6 billion. 

Similarly, Everest bank has earned Rs 1.3 billion, Machhapuchhre Bank Rs 1.04 billion, Kumari Bank Rs 1.6 billion, Citizen Bank Rs 1.9 billion, Laxmi Bank Rs 1.02 billion, Sunrise Bank Rs 1.1 billion and Rastya Banijya Bank Rs 1.8 billion.