KATHMANDU, AUGUST 6
Commercial banks witnessed a remarkable increase in profits during the fiscal year 2022-23, with their collective profits rising by 24.92 per cent to reach Rs 70.17 billion compared to the previous fiscal's net profit of Rs 56.17 billion.
Among the 20 banks that published unaudited financial statements, Nabil Bank emerged as the top performer with a staggering 76 per cent increase in earnings, recording a profit of Rs 7.52 billion.
Global IME Bank secured the second position with a profit of Rs 7.25 billion, while Rastriya Banijya Bank took third place with earnings of Rs 4.91 billion.
Additionally, seven commercial banks earned profits exceeding three billion rupees, namely Everest Bank, Standard Chartered Bank Nepal, NMB Bank, Nepal Bank, Agricultural Development Bank, Himalayan Bank, and Siddhartha Bank.
Other banks, such as Citizens Bank, Laxmi Sunrise Bank, Prabhu Bank, Prime Commercial Bank and Nepal SBI Bank achieved profits above two billion rupees.
On the other hand, Kumari Bank and Prime Bank experienced a decline in profits, with Kumari Bank's profit decreasing by 24.13 per cent to Rs 1.95 billion and Prime Bank's profit declining by 18.80 per cent to Rs 2.26 billion during the review period.
A version of this article appears in the print on August 7, 2023, of The Himalayan Times.
