Commercial Banks of Nepal have published their financial results for the third quarter of this fiscal year, showing a mix of stable growth and strong performances by some banks. Based on preliminary reports, the combined net profit of the 20 commercial banks reached Rs. 41.25 Arba, reflecting a slight 1.40% increase compared to Rs. 40.68 Arba earned in the same period last fiscal year (2080/81).
Nepal Bank Leads with Record-Breaking Growth
Nepal Bank stood out as the best performer in the third quarter with a noticeable improvement. Its net profit surged to Rs. 278.35 crores, a massive 2032.94% increase compared to Rs. 13.05 crores in the same quarter last year. This is the highest percentage growth among all commercial banks.
Strong Performers in the Banking Sector
Several other banks also delivered impressive results:
- Nepal Investment Mega Bank: Net profit rose by 38.61% to Rs. 454 crores.
- Global IME Bank: Earnings climbed 37.12% to Rs. 453.41 crores.
- Everest Bank: Profits grew by 32.55%, reaching Rs. 345.76 crores.
- Machhapuchchhre Bank: Reported a 28.90% increase, with profits at Rs. 110.26 crores.
Moderate Growth Across Mid-Tier Banks
While some banks saw slower progress, they maintained positive trends:
- Sanima Bank: 14.80% profit growth.
- Nabil Bank: 8.21% increase.
- NMB Bank: 5.87% rise.
- Prabhu Bank and Nepal SBI Bank: Modest growth of 3.51% and 3.36%, respectively.
- Laxmi Sunrise Bank: Small rise in net profit, increasing by just 2.24%.
Key Takeaways
The latest figures highlight Nepal Bank’s exceptional recovery and the overall resilience of the banking sector. While growth rates varied, most institutions maintained upward momentum despite economic challenges. Investors and stakeholders will likely monitor these trends closely as the fiscal year progresses.
Nepal’s 20 Commercial Banks Q3 Report
