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Home Prime News

Commercial Banks Report Over Rs 17.5 Billion Profit in First Two Months of FY 2023-24

CEO Tab by CEO Tab
October 24, 2024
in Prime News
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Banks fail to increase lending despite excess liquidity
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In the first two months of the fiscal year 2024/25, 20 commercial banks collectively reported a profit of Rs 17.6992 billion.

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Nabil Bank led the rankings with a profit of Rs 1.66 billion by mid-September, followed closely by Global IME Bank with Rs 1.56 billion. Nepal Investment Mega Bank earned Rs 1.41 billion, while Himalayan Bank reported Rs 1.16 billion, and Kumari Bank achieved Rs 1.08 billion.

Prime Bank posted earnings of Rs 974.6 million, followed by Prabhu Bank with Rs 913.32 million. Agriculture Development Bank reported Rs 887 million, while Rastriya Banijya Bank earned Rs 880.3 million, and Laxmi Sunrise Bank reported Rs 864.6 million. Everest Bank generated Rs 825.5 million, and NMB Bank earned Rs 780.2 million. Sanima Bank posted profits of Rs 689.2 million, while Nepal Bank followed with Rs 678.2 million.

Standard Chartered Bank reported profits of Rs 606.2 million, with Siddhartha Bank close behind at Rs 605.6 million. Citizens Bank earned Rs 589.8 million, and NIC Asia reported Rs 577.5 million. Nepal SBI Bank recorded Rs 533.9 million, while Machhapuchhre Bank posted Rs 392.5 million.

According to Nepal Rastra Bank, the total profit for banks and financial institutions at the end of Bhadra reached Rs 20.21 billion, which includes Rs 1.64 billion from development banks and Rs 870 million from finance companies.

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