KATHMANDU, Dec 5: The Nepal Rastra Bank (NRB) is said to allocate Rs 25 billion from its profit of the last fiscal year (FY) for the Government of Nepal. The board of directors of NRB approved the annual report, audited by external auditors for FY 2022/23.
It is mentioned in the annual report that the meeting of the board has decided to allocate the amount to be separated from the bank's net profit to various necessary funds and allocate the remaining surplus amount of Rs 25 billion to the Government of Nepal.
NRB, which earned a profit of Rs 87.60 billion in the last FY, will allocate the amount in various funds and transfer Rs 25 billion to the Government of Nepal.
In the FY 2022/23, the total net operating income of NRB increased by 86.57 percent compared to the previous year and reached at Rs 66.93 billion. In 2021/22 such income was 35.87 billion.
In the net operating income of the NRB, the share of net interest income is 93.49 percent, the income from foreign exchange purchase and sale is 3.63 percent and the share of other operating income is 2.88 percent. The net interest income increased by 86.09 percent compared to the previous year and has remained at Rs 62.57 billion. Income from buying and selling foreign exchange increased by 19.76 percent and remained at Rs 2.43 billion. Similarly, other income has been maintained at Rs 1.92 billion.
The net income before foreign exchange and other asset revaluation gain/loss adjustment for FY 2022/23 increased by 112.81 percent compared to the previous year, reaching Rs 60.48 billion. Such net income was Rs 28.43 billion in the FY 2021/22.
According to the Central Bank, the total profit has reached Rs 87.60 billion including the foreign exchange revaluation profit of Rs 10.90 billion and the revaluation profit of gold and silver has amounted to Rs 17.11 billion.