Kathmandu. KATHMANDU: Commercial banks have published their financial statements for the first quarter of the current fiscal year.
According to the financial report, the commercial banks have earned a profit of Rs 13.14 billion in the first quarter of the current FY. Last year, 2081. In the first quarter of 2018-19, the commercial banks had earned a net profit of Rs 16.18 billion. In the review period, the profit of the banks decreased by 18.78 percent compared to the previous year.
According to the financial report, the profit of only five banks has increased while the profit of 14 banks has decreased. Citizens Bank has incurred losses. In the first quarter, there are 5 banks that made a profit of over Rs billion, while Rastriya Banijya Bank is in the top position in terms of growth rate.
Global IME Bank, Everest Bank, Rastriya Banijya Bank, Sanima Bank and NIC Asia Bank made a profit today. Nabil Bank, Prime Commercial Bank, Kumari Bank, NMB Bank, Himalayan Bank, Standard Chartered Bank, Nepal Bank, Prabhu Bank, Nepal SBI Bank, Machhapuchchhre Bank, Laxmi Sunrise Bank, Siddhartha Bank, Nepal Investment Mega Bank and Agriculture Development Bank contributed a profit. Citizens Bank has incurred losses.
During the review period, Global IME Bank was the highest earner while Agriculture Development Bank earned the least profit.
Similarly, Global IME, Nabil Bank, Prime, Everest Bank and Kumari Bank have made net profit above Rs 100 billion in the first quarter of the current fiscal year.
In the review period, Global IME made a profit of Rs 1.85 billion. The bank had posted a net profit of Rs 1,7100 crore in the same quarter last year. The profit of the bank increased by 22.92 percent.
Similarly, Nabil Bank is the second highest profiter. In the review period, Nabil earned a net profit of Rs 1.75 billion. The bank had posted a net profit of Rs 2,014 crore in the same quarter last year. The profit of the bank decreased by 14.57 percent compared to the previous year.
The third most profitable is Prime. Prime earned a net profit of Rs 1.25 billion in the review period. The company had posted a net profit of Rs 1.28 billion in the same period last year. Prime’s net profit also declined by 2.20 percent in the review period compared to the previous year.
In the review period, Everest Sagarmatha earned Rs 1.17 billion and Kumari earned Rs 1.05 billion. In the same period last year, Everest had earned a profit of Rs 1.12 billion and Kumari had earned Rs 1.07 billion. Compared to the previous year, Everest Bank’s profit increased by 4.57 percent while Kumari’s profit decreased by 2.01 percent.
