Kathmandu: In the last fiscal year, banks and financial institutions set aside Rs 11.75 billion from their profits for employee bonuses. According to the Bonus Act, 10 percent of profit must be allocated for staff bonuses.
In fiscal year 2023/24, banks and financial institutions had earmarked Rs 9.19 billion for bonuses. The amount has risen significantly in fiscal year 2024/25.
With the improvement in banks’ profits in the last fiscal year, employee bonuses also increased. Back in fiscal year 2021/22, banks had distributed Rs 11.76 billion in staff bonuses.
In the following years, however, the amount decreased, falling to Rs 9 billion in 2023/24. But last fiscal year, it rose again significantly.
In the last fiscal year, commercial banks allocated Rs 10.61 billion for employee bonuses. In the previous fiscal year 2023/24, commercial banks had distributed Rs 8.21 billion to their employees as bonuses.
Meanwhile, development banks set aside Rs 960 million for bonuses in the last fiscal year, while finance companies allocated Rs 180 million. In the previous fiscal year, development banks had distributed around Rs 870 million, while finance companies had distributed Rs 100 million.
Among the commercial banks, Nabil Bank allocated the highest amount for bonuses — Rs 1.14 billion. Similarly, Nepal Investment Mega Bank earmarked Rs 1.06 billion.
Global IME Bank set aside around Rs 980 million for employee bonuses, while Everest Bank allocated around Rs 830 million.
Among development banks, Muktinath Bikas Bank allocated around Rs 250 million, while Garima Bikas Bank set aside Rs 21 million.
Among finance companies, ICFC Finance allocated around Rs 55 million, and Manjushree Finance earmarked over Rs 50 million for bonuses.
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