Despite having higher liquidity in the banks, commercial banks have earned a profit of around NPR 33.5 billion in the first five months of the current fiscal year. Compared to Kartik, the profit has increased in Mangsir.
By the end of Mangsir, commercial banks earned a net profit of NPR 30.59 billion. According to Nepal Rastra Bank, the profit of banks in Mangsir has increased by 37% compared to Kartik of the current fiscal year. Among the commercial banks, Nabil Bank leads in terms of profit. According to the details published by Nepal Rastra Bank, Nabil Bank earned around NPR 3.5 billion in net profit in five months. In terms of net profit, Global IME Bank ranks second, earning NPR 2.83 billion.
Other notable banks include Nepal Investment Mega Bank, Kumari Bank, Prime Commercial Bank, Everest Bank, NMB Bank, Prabhu Bank, and Nepal Bank Limited, with profits ranging from NPR 1.51 billion to NPR 2.49 billion. Similarly, Standard Chartered Bank, Nepal SBI Bank, Himalayan Bank, National Commercial Bank, Siddhartha Bank, Citizens International Bank, Sanima Bank, Machhapuchhre Bank, and NIC Asia Bank reported profits ranging from NPR 63.34 million to NPR 1.37 billion.
On the other hand, the Agricultural Development Bank has incurred a loss, as shown in the preliminary financial details of Nepal Rastra Bank. Regarding interest rates, the steadily declining bank interest rate is expected to remain unchanged in Magh. Out of the 20 commercial banks, 17 have kept the interest rate stable for Magh, two have increased it, and one has decreased it.
SBI and Agricultural Development Bank have reduced interest rates, while Laxmi Sunrise Bank has increased them. Other 17 banks have maintained their rates. Nepal SBI Bank has reduced its interest rate by 0.50% on both personal and institutional deposits. SBI’s personal deposit rate is now 5.50%, and the institutional rate is 4.50% for Magh. Laxmi Sunrise Bank has increased the rate on deposits from 5.5% to 5.75%.
Global IME and Nabil Bank continue offering 5.57% for personal deposits and 4.25% for institutional deposits. Kumari Bank continues offering 5.91% for personal deposits and 4.91% for institutional deposits.
Machhapuchhre Bank, Siddhartha, and Everest Bank have kept their rates at 6% for personal and 4-5% for institutional deposits. Similarly, Prabhu Bank offers 6.10% for personal and 5.10% for institutional deposits, and Standard Chartered offers 6.25% for personal and 3.25% for institutional deposits. Himalayan Bank has rates of 6.25% for personal and 5.25% for institutional deposits, while Nepal Investment Mega Bank offers 6.50% for personal and 5.10% for institutional deposits. NMB and NIC Asia Bank offer 6.60% for personal and 5.60% for institutional deposits.
