27 commercial banks earned profits of Rs 58.33 billion in first 10 months of current FY

27 commercial banks earned profits of Rs 58.33 billion in first 10 months of current FY
By Republica
Published: June 14, 2022 06:35 AM

KATHMANDU, June 14: Nepali commercial banks earned profits of Rs 58.33 billion in the first 10 months of the current fiscal year despite facing a notable shortfall in loanable funds during the period.

According to Nepal Rastra Bank (NRB), 27 commercial banks of the country earned the aforementioned amount in profits during mid-July 2021 and mid-May 2022. In the last one month alone, the banks’ interest earnings increased by Rs 7.32 billion.

During the review period, Global IME Bank posted profits worth Rs 4.31 billion, the largest of all. NIC Asia Bank, with securing profits of Rs 4.11 billion, was second in the row.

Likewise, Nabil Bank earned profits of Rs 3.82 billion. Laxmi Bank with Rs 928.70 million gained the least.

Among the three state-owned banks, Rastriya Banijya Bank earned the largest profits of Rs 3.46 billion. Nepal Bank Limited earned Rs 2.56 billion while Agriculture Development Bank earned Rs 2.02 billion in profits. 

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