The development banks logged only 0.10 percent fall in net profit in the third quarter of the current FY compared to the corresponding period of the last FY.
The banks earned Rs 3.474 billion in net profit in the review period compared to Rs 3.477 billion of the last FY. Although few banks logged a decline in net profit, the overall scenario of the banks shows a negligible decline in their profits.
As per the data, three development banks are in loss while 5 banks logged a decline in profit and eight recorded an increase in net profit during the period. Sindhu Bikas Bank and Excel Development Bank incurred loss in the last FY and logged profit during the review period of the current FY. Corporate Development Bank increased its net profit by 49 percent. similarly, Miteri Development Bank, Jyoti Bikas Bank, Mahalaxmi Bikas Bank and Lumbini Bikas Bank penned increased net profit. However, Saptakoshi Development Bank, Narayani Development Bank and Sindhu Bikas Bank incurred loss, in the other hand, Green Development Bank, Karnali Development Bank, Sangrila Development Bank, Kamana Sewa Bikas Bank, Garima Bikas Bank and Muktinath Bikas Bank’s net profit has declined.
During the period, Muktinath Bikas Bank earned the highest net profit of Rs 800 million. The net profit declined by 10 percent compared to Rs 870 million of the last FY.
Similarly, Garima Bikas Bank earned Rs 651.9 million in net profit which is 4.5 percent fall. Shine Resunga Development Bank’s net profit declined by 7 percent to Rs 550 million. Similarly, Lumbini Bikas Bank raised its net profit by 36 percent to Rs 460 million.
By the period, Saptakoshi Development Bank incurred loss of Rs 270 million while Narayani Development Bank incurred a loss of Rs 30 million.
