Net profit of commercial banks increased by 23.14 percent to Rs 74.80 billion in the last FY

Published On: August 6, 2022 06:16 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, August 6: Nepali commercial banks increased their net profit by 23.14 percent in the last fiscal year as compared to that of the amount in 2020/21 despite facing shortage of loanable funds for almost a year.

According to the financial report unveiled by 26 commercial banks, they earned net profits of Rs 74.80 billion in 2021/22. In the previous year, they secured Rs 60.74 billion in net profits.

Recently, Nabil Bank has acquired Nepal Bangladesh Bank (NBB) and started the joint transaction from July 17. Nabil Bank has considered the NBB’s profits of last year in its reserve fund.

Of the total 26 commercial banks in operation, the state-owned Rastriya Banijya Bank secured Rs 5.21 billion in its net profit, the largest of all. Global IME Bank, with an earning of net profits worth Rs 5.20 billion, was in second position.

Nabil Bank earned Rs 4.97 billion, which was followed by Nepal Investment Bank (Rs 4.80 billion), NIC Asia Bank (Rs 4.52 billion) and NMB Bank (Rs 3.70 billion). Among the state-owned banks, Nepal Bank Limited earned Rs 3.26 billion and Agriculture Development Bank earned Rs 2.32 billion in net profits during the review period. 


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