In the first quarter of the current fiscal year 2082/83 (mid-July to mid-October), Nepal’s commercial banks have earned a combined profit of Rs 13 arba 14 crore 98 lakh. This marks a decline compared to the same period last year, when their total profit stood at Rs 16 arba 18 crore.
Among the banks, Global IME Bank secured the top spot with the highest profit, posting Rs 1 arba 85 crore, a 22.92% increase from last year. Nabil Bank came second with Rs 1 arba 75 crore profit, though its earnings fell by 14.57% year-on-year. In third place, Prime Bank earned Rs 1 arba 25 crore 84 lakh, down by 2.20% compared to last year.
Everest Bank managed to increase its profit by 4.57% to Rs 1 arba 17 crore 92 lakh, while Kumari Bank’s profit slipped by 2% to Rs 1 arba 5 crore 65 lakh.
NMB Bank saw a 20% drop in profit to Rs 91 crore 59 lakh, while Himalayan Bank recorded a 3% decline to Rs 70 crore 28 lakh. Standard Chartered Bank Nepal faced a 19.72% fall, bringing its profit down to Rs 69 crore 21 lakh.
The bank with the highest profit growth this quarter was Rastriya Banijya Bank (RBB), whose profit surged by 295% to Rs 59 crore 87 lakh.
Meanwhile, Nepal Bank’s profit decreased by 2.31% to Rs 58 crore 82 lakh, Prabhu Bank’s profit fell by 46.33% to Rs 55 crore 84 lakh, and Nepal SBI Bank saw a 38.43% drop to Rs 50 crore 15 lakh.
Sanima Bank posted a 13% rise in profit to Rs 45 crore 49 lakh, while Machhapuchchhre Bank’s profit declined by 16.95% to Rs 41 crore 79 lakh. Laxmi Sunrise Bank recorded a 38.04% fall to Rs 33 crore 23 lakh, and Siddhartha Bank saw a 15.18% drop to Rs 32 crore 40 lakh.
NIC Asia Bank managed to increase its profit by 10.53%, earning Rs 12 crore 21 lakh, but Nepal Investment Mega Bank’s profit plunged by 96% to just Rs 4 crore 50 lakh. Agriculture Development Bank reported an alarming 97% decline, with profit dropping to only Rs 57 lakh 38 thousand.
Meanwhile, Citizens Bank reported a negative profit of Rs 22 crore 4 lakh, making it the only bank with losses during this quarter.