NRB Reports Net Profits of Commercial and Development Banks Till Mangsir of FY 2080/81; NABIL Leading The Chart

Nepal Rastra Bank has recently released statistics detailing the financial performance of commercial banks and development banks for the initial five months of the current fiscal year 2080/81, ending in Mangsir.

Commercial Banks:

In the first five months of the fiscal year 2080/81, the collective net profit of commercial banks in Nepal amounted to Rs. 28.36 Arba. Notably, Nabil Bank emerged as the frontrunner, securing the highest net profit of Rs. 2.96 Arba. Global IME Bank followed closely with earnings of Rs. 2.73 Arba, and NIMB secured the third position with a net profit of Rs. 2.6 Arba during this period.

In contrast, Agricultural Development Bank reported the lowest net profit among commercial banks, standing at Rs. 12.5 Crores.

Development Banks:

Despite facing losses reported by three out of the 17 banks in this category, the development banking sector in Nepal recorded a net profit of Rs. 1.9 Arba. Muktinath Bikas Bank showcased remarkable performance, reporting an impressive net profit of Rs. 45.93 crore. Garima Bikas Bank closely followed with earnings of Rs. 38.67 crore.

On the flip side, Corporate Development Bank and Narayani Development Bank reported the lowest profits in the sector, with earnings of Rs. 1.09 Crores and Rs. 10.7 Lakhs, respectively. Notably, Saptakoshi, Salapa, and Excel Development Bank faced challenges as they grappled with net losses during the same period.