Kathmandu: The latest financial data reveals a significant increase in the net profits of commercial banks in Nepal for the first quarter of the fiscal year 2081 (as of Ashwin 30, 2081). Collectively, the banks posted a total net profit of NPR 16.23 billion, reflecting a 21.63% increase compared to NPR 13.34 billion in the same period last year.

Top Performers:

• Nabil Bank recorded the highest profit among all banks, earning NPR 2.05 billion, up by 39.97% from last year’s NPR 1.46 billion.
• Global IME Bank followed closely with a net profit of NPR 1.51 billion, showing 23.36% growth.
• Everest Bank posted an impressive 44.44% increase, with profits reaching NPR 1.12 billion.
• Kumari Bank witnessed the most significant jump in percentage, reporting NPR 1.07 billion profit, a 308.50% rise from NPR 263 million last year.
• Siddhartha Bank saw a remarkable surge of 791.43%, earning NPR 382 million compared to NPR 42 million in the same period last year.

Declining Performers:

• NIC Asia Bank experienced the sharpest decline, with profits dropping 89.06% to NPR 110 million from NPR 1.01 billion.
• Himalayan Bank saw its profits shrink by 31.22%, reporting NPR 726 million compared to last year’s NPR 1.05 billion.

Banks Recovering Losses:

• Agriculture Development Bank reported a net profit of NPR 190 million, recovering from last year’s loss of NPR 888 million.

Overall, most banks experienced robust growth, with only a few exceptions. This performance indicates a steady recovery and improvement in the banking sector, despite ongoing economic challenges.