NRB Report Highlights Commercial and Development Banks' Net Profits up to Bhadra; NABIL, MNBBL and ICFC Tops the Chart
Nepal Rastra Bank has released the financial performance report for commercial and development banks for till the second month of the fiscal year 2081/82, ending in Bhadra.
Commercial Banks:
The collective net profit of commercial banks reached Rs. 17.69 Arba. Nabil Bank took the lead with a net profit of Rs. 1.66 Arba, overtaking Globel Ime Bank, which reported earnings of Rs. 1.56 Arba. Nepal Investment Mega Bank followed in third place, posting a net profit of Rs. 1.41 Arba for the period.
Other notable performers include Himalayan Bank and Kumari Bank, which reported profits in the higher range.
Meanwhile, Machhapuchchhre Bank recorded the lowest profit among commercial banks, earning Rs. 39.24 Crores.
Development Banks:
The development banking sector reported a total net profit of Rs. 1.64 Arba, despite six out of the 17 development banks facing losses.
Muktinath Bikas Bank led the sector, reporting a net profit of Rs. 32.58 Crores, outpacing Muktinath Bikas Bank, Shine Resunga Development Bank which posted Rs. 21.54 Crores in net profit. Garima Bikas Bank followed closely with earnings of Rs. 28.89 Crores. At the lower end of the spectrum, Salapa Bank and Corporate Development Bank recorded minimal earnings, with Rs. 48.5 lakhs and Rs. 38.8 lakhs, respectively.
Furthermore, six banks within the development banking sector, including Narayani Development Bank, Saptakoshi Development Bank, Sindhu Bikas Bank, Karnali Development Bank, Miteri Development Bank, and Excel Development Bank, reported net losses for the month.
Finance
Despite facing losses reported by four out of the 17 companies in this category, the finance sector in Nepal recorded a net profit of Rs. 36.43 Crores. ICFC Finance showcased remarkable performance, reporting an impressive net profit ofRs. 8.57 crore. Progressive Finance closely followed with earnings of Rs. 8.17 crore.
On the flip side, Capital Merchant Banking & Finance, NSML, Best Finance Company, and Samriddhi Finance Company faced challenges as they grappled with net losses during the same period.
