KATHMANDU: Nepal's commercial banks reported a collective net profit increase of 21.63 percent in the first quarter of fiscal year 2081/82, totaling Rs 16.23 billion, according to newly released financial results.
Out of 20 banks, 12 saw profit growth, while 8 experienced declines.
Nabil Bank led with the highest net profit of Rs 2.05 billion, reflecting a 39.97 percent rise compared to the same period last year.
Global IME Bank followed with Rs 1.51 billion in profit, and Nepal Investment Mega Bank came in third with Rs 1.46 billion. NIC Asia Bank reported the lowest profit, with Rs 11.05 crores for Q1 2081/82.
Siddhartha Bank recorded the most significant increase, boasting a remarkable 791.46 percent jump in net profit, while Laxmi Sunrise Bank also showed impressive growth at 420.53 percent.
Over the past three months, profit margins varied widely among banks. Global IME Bank achieved a profit increase of 23.36%, and Nepal Bank saw a striking rise of 322.97%.
In contrast, Prabhu Bank's profit was modest at 0.62%, and Laxmi Sunrise Bank's was notably high at 420.53%.
Nepal SBI reported a profit of 70.01%, and Prime Commercial Bank had 11.75%. Standard Chartered Bank's profit grew by 4.17%, and Kumari Bank saw a substantial increase of 308.5%.
On the other hand, eight banks reported decreased profits. Sanima Bank's profit fell by 17.27%, Himalaya Bank by 31.22%, and Machhapuchhre Bank experienced a 7% drop.
Nepal Investment Mega Bank reported a 3.82% decrease, while Krishi Bikas Bank faced a contraction of 129.50%.
Citizens Bank's profit declined by 12.55%, NIC Asia saw an 89.06% drop, and Rastriya Banijya Bank's profit decreased by 82.40%.
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