During the period, the banks earned net profit of Rs 27.43 billion. The net profit decline by 4.62 percent compared to Rs 28.76 billion of the corresponding period of the last FY.
Nine banks logged a decline in net profit, while eleven logged an increase.
Prabhu Bank Logs Maximum Growth
During the period, Prabhu Bank has logged the highest growth. The bank raised its net profit by 85.49 percent. The bank that earned Rs 720.3 million in net profit during the review period of the last FY earned Rs 1.33 billion in the current FY. Nepal Investment Mega Bank follows the bank with 57 percent growth, Global IME Bank with 49.5 percent growth and NMB Bank with 45.5 percent growth.
In the meantime, NIC Asia Bank logged 92.03 percent decline in net profit. The bank that earned Rs 1.90 billion in net profit logged merely Rs 151.7 million in net profit this quarter.
Nabil Bank Earns Highest Profit
During the period, Nabil Bank has earned the highest net profit. The bank registers Rs 3.44 billion in net profit followed by Global IME Bank with Rs 3 billion profit.
Meanwhile, NIC Asia earned the least profit of Rs 150 million.
Eleven Banks in Billion Club
In the review period, eleven banks entered the billion club. Two banks’ net profit exceeded Rs 3 billion, two banks exceeded Rs 2 billion, and the remaining six banks logged above Rs 1 billion in net profit.
