Eight national level development banks earned net profit of Rs 1.42 billion in the first quarter of the current FY. In the corresponding period of the last FY, the banks earned net profit of Rs 1.10 billion.
Among the banks, Jyoti Bikas Bank managed to record highest growth in profit. Its net profit increased by 197.61 percent to Rs 151.1 million compared to Rs 50.8 million of the review period of the last FY.
Meanwhile, Mahalaxmi Bikas Bank is the only development bank to logged decline in net profit. During the period, the bank’s net profit declined by 1.14 percent.
During the period, Muktinath Bikas Bank earned the highest profit. The bank earned 281.8 million in net profit which is 23.17 percent compared to the last FY.
In the meantime, Sangrila Development Bank logged the lowest profit of Rs 60.1 million during the first quarter of the current FY.
