Kathmandu. Commercial banks have spent rs 53.13 billion more on salaries and allowances of employees in the 11 months of the current fiscal year.
According to nepal rastra bank data, 20 commercial banks have spent Rs 53.13 billion on salaries and allowances of their employees till May. In the same period last year, banks had spent Rs 50.16 billion. Compared to the previous year, the amount spent by the banks on the salary and allowances of the employees has increased by 5.92 percent.
Rastriya Banijya Bank is the largest spender on salaries and allowances of employees while NMB Bank is ahead in terms of growth rate. Compared to the previous year, the expenses of salary and allowances of employees of 16 commercial banks have increased and four have decreased.
Rastriya Banijya Bank has spent Rs 3.89 billion on salaries and allowances of its employees in the 11 months of the current fiscal year. In the same period last year, the expenditure of this head was Rs 3.93 billion. Spending has decreased by 1 percent compared to the previous year.
Similarly, Kumari is the second bank to spend on the salary and allowances of the employees. Kumari has spent Rs 3.68 billion till May of the current fiscal year. In the same period last year, such expenditure was Rs 3.80 billion. Kumari Bank’s expenditure has also decreased by 3.08 percent.
Global IME Bank is in third place. The bank has spent Rs 3.58 billion in the review period as compared to Rs 3.42 billion spent on salaries and allowances of its employees till May last year. The bank’s expenditure has increased by 4.77 percent in the review period compared to the previous year.
Similarly, Laxmi Sunrise Bank has spent Rs 3.53 billion, Prabhu Bank Rs 3.46 billion, Nepal Bank Rs 3.45 billion, Krishi Bikas Bank Rs 3.38 billion, Nabil Bank Rs 3.33 billion and NIC Asia Bank Rs 3.55 billion. Laxmi Sunrise Bank, Prabhu Bank, Nepal Bank and Krishi Bikas Bank have seen a decline in their expenditure compared to the previous year.
Similarly, Himalayan Bank rs 2.97 billion, Nepal Investment Mega Bank Rs 2.92 billion, NMB Bank Rs 2.63 billion, Siddhartha Bank Rs 2.51 billion, Machhapuchhre Bank Rs 1.91 billion, Everest Bank Rs 1.63 billion. Citizen Bank spent Rs 1.58 billion, Prime Bank Rs 1.56 billion, Nepal SBI Bank Rs 1.53 billion, Sanima Bank Rs 1.49 billion and Standard Bank Rs 962 million. The cost of going to the salaries and allowances of the employees of all these banks has increased.
