Kathmandu: Nepal’s 20 commercial banks collectively posted a net profit of Rs 71.45 billion in the last fiscal year, marking a 44 percent increase compared to the previous year.
According to financial data, these banks had earned a combined net profit of Rs 49.58 billion in the previous fiscal year. The latest figures show an additional Rs 22 billion in profits year-on-year.
Nabil Bank emerged as the most profitable institution, followed by Nepal Investment Mega Bank in second place, Global IME Bank in third, Prabhu Bank in fourth, and Everest Bank in fifth.
Significant performance improvements were recorded by several banks. Kumari Bank’s profit skyrocketed by an extraordinary 458 times, while Nepal Bank saw a 131-fold increase. Prabhu Bank nearly multiplied its profit tenfold, Machhapuchchhre Bank doubled its earnings, and NIMB recorded a 64 percent rise.
However, four banks saw a decline in profits compared to the previous year, with NIC Asia Bank registering the lowest earnings among the group.
Of the 20 banks, only Nabil Bank posted more than Rs 7 billion in profit. Two banks earned over Rs 6 billion, one exceeded Rs 5 billion, four surpassed Rs 4 billion, and five recorded more than Rs 3 billion in net profits.
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