The profit growth rate of the commercial banks has dropped in the first quarter of the current fiscal year compared to the same period of the last fiscal year, though they have posted profit as usual.
The commercial banks recorded a total of Rs 16.17 billion profit – in the first quarter of the current fiscal year – an increase by 6.25 per cent compared to the same period in the last fiscal year, according to the unaudited financial statements of the commercial banks.
During the first quarter of the last fiscal year, the 28 commercial banks collectively had recorded Rs 15.4 billion profits, revealed the statement that shows Rastriya Banijya Bank (RBB) as the top profit earner – with Rs 1.127 billion profit – in the first quarter of the current fiscal year. In the first three months of fiscal year 2018-19, the wholly-state owned bank had recorded Rs 1.119 billion profit.
Nabil Bank followed Rastriya Banijya Bank in the race to earn highest profit with Rs 1.123 billion in the first quarter of the current fiscal year. Nabil had posted Rs 1.05 billion profit in the last fiscal year’s first quarter. The third bank to be in the billionair club is NIC Asia Bank that has earned Rs 1.009 billion in the first three months of the current fiscal year 2019-20.
Likewise, Nepal SBI Bank, Citizens Bank, Siddhartha Bank, Bank of Kathmandu, NCC Bank, Nepal Investment Bank, Civil Bank and Nepal Bank profit growth rate has dropped compared to the first quarter of the last fiscal year.
Among the eight commercial banks Nepal Investment Bank had earned Rs 1.05 billion in the first quarter of last fiscal year but posted only Rs 844 million profit in the same period this fiscal year. Likewise, Nepal Bank’s profit has also dropped to Rs 581.8 million in first quarter of the current fiscal year compared to Rs 913.88 million profit in same period last fiscal year. The profit of Nepal SBI Bank has also come down to Rs 437.23 million in the first quarter of 2019-20 from Rs 489.77 million during the same period last fiscal year, whereas Bank of Kathmandu’s (BoK) earning has also been limited to Rs 383.7 million from Rs 386.82 million in the first quarter of last fiscal year.
Among, the 28 commercial banks, Civil Bank ranks the lowest in the profit earning. According to the bank’s unaudited financial statement, the bank has posted Rs 158.9 million profit in the first quarter of this fiscal year against Rs 185 million profit in the last fiscal year’s first quarter.
The commercial banks recorded a total of Rs 16.17 billion profit – in the first quarter of the current fiscal year – an increase by 6.25 per cent compared to the same period in the last fiscal year, according to the unaudited financial statements of the commercial banks.
During the first quarter of the last fiscal year, the 28 commercial banks collectively had recorded Rs 15.4 billion profits, revealed the statement that shows Rastriya Banijya Bank (RBB) as the top profit earner – with Rs 1.127 billion profit – in the first quarter of the current fiscal year. In the first three months of fiscal year 2018-19, the wholly-state owned bank had recorded Rs 1.119 billion profit.
Nabil Bank followed Rastriya Banijya Bank in the race to earn highest profit with Rs 1.123 billion in the first quarter of the current fiscal year. Nabil had posted Rs 1.05 billion profit in the last fiscal year’s first quarter. The third bank to be in the billionair club is NIC Asia Bank that has earned Rs 1.009 billion in the first three months of the current fiscal year 2019-20.
Likewise, Nepal SBI Bank, Citizens Bank, Siddhartha Bank, Bank of Kathmandu, NCC Bank, Nepal Investment Bank, Civil Bank and Nepal Bank profit growth rate has dropped compared to the first quarter of the last fiscal year.
Among the eight commercial banks Nepal Investment Bank had earned Rs 1.05 billion in the first quarter of last fiscal year but posted only Rs 844 million profit in the same period this fiscal year. Likewise, Nepal Bank’s profit has also dropped to Rs 581.8 million in first quarter of the current fiscal year compared to Rs 913.88 million profit in same period last fiscal year. The profit of Nepal SBI Bank has also come down to Rs 437.23 million in the first quarter of 2019-20 from Rs 489.77 million during the same period last fiscal year, whereas Bank of Kathmandu’s (BoK) earning has also been limited to Rs 383.7 million from Rs 386.82 million in the first quarter of last fiscal year.
Among, the 28 commercial banks, Civil Bank ranks the lowest in the profit earning. According to the bank’s unaudited financial statement, the bank has posted Rs 158.9 million profit in the first quarter of this fiscal year against Rs 185 million profit in the last fiscal year’s first quarter.
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