Nepal | May 22, 2019

Collective profit of banks up 15.45pc

Himalayan News Service

Kathmandu, April 29

The collective profit of commercial banks increased by 15.45 per cent to Rs 36.26 billion in the third quarter of the current fiscal compared to net profit of Rs 31.4 billion in the corresponding period of the previous fiscal, according to the unaudited financial statements published by 28 commercial banks in operation.

Government-owned Rastriya Banijya Bank (RBB) topped the list of profit makers, followed by Nepal Investment Bank, Nabil Bank, Nepal Bank and Everest Bank. RBB was able to generate profit of Rs 3.09 billion till the third quarter of this fiscal, followed by Rs 2.83 billion of Nepal Investment Bank, Rs 2.8 billion by Nabil Bank, Rs 2.57 billion by Nepal Bank and Rs 1.8 billion by Everest Bank.

Profit of 15 commercial banks crossed the billion-rupee mark in the third quarter. Only 11 commercial banks had generated profit of above a billion rupees in the corresponding period of the previous fiscal.

The profit of five commercial banks namely, Global IME Bank, NIC Asia Bank, Prabhu Bank, Machhapuchchhre Bank and Nepal Bangladesh Bank dropped in the review period as compared to the corresponding period of the previous fiscal.

Profit of Prabhu Bank dropped heavily by 40 per cent to Rs 867.12 million in the review period of this fiscal, followed by Machhapuchchhre Bank and NIC Asia Bank as their profit dipped by 18.9 per cent and 18.51 per cent to Rs 815 million and Rs 927.6 million, respectively.

In terms of profit growth, Nepal Credit and Commerce (NCC) Bank topped the list with profit growth of 225 per cent, followed by Civil Bank (126.65 per cent), Century Commercial Bank (102.63 per cent), Kumari Bank (87.73 per cent) and Janata Bank Nepal (50.76 per cent). Profit of NCC Bank stood at Rs 543.15 million, Civil Bank (Rs 350.05 million), Century Commercial Bank (Rs 630.05 million), Kumari Bank (Rs 705.68 million) and Janata Bank Nepal (Rs 575.73 million), as per the unaudited financial statements of the commercial banks.

Civil Bank, Mega Bank Nepal, NCC Bank, Janata Bank Nepal and Century Commercial Bank were at bottom five as their profit in third quarter stood at Rs 350.05 million, Rs 524.9 million, Rs 543.15 million, Rs 575.73 million and Rs 630.05 million, respectively.


COMPARATIVE FIGURES

                           Top five

Rastriya Banijya Bank             Rs 3.09 billion

Nepal Investment Bank         Rs 2.83 billion

Nabil Bank                             Rs 2.8 billion

Nepal Bank                            Rs 2.57 billion

Everest Bank                          Rs 1.8 billion

                      Bottom five

Century Commercial Bank     Rs 630.05 million

Janata Bank Nepal                 Rs 575.73 million

NCC Bank                               Rs 543.15 million

 Mega Bank Nepal                  Rs 524.9 million

Civil Bank                                Rs 350.05 million


A version of this article appears in print on April 30, 2018 of The Himalayan Times.


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