During the period, the banks earned net profit of Rs 693.3 million. The net profit increased by 5.46 percent compared to Rs 657.4 million of the corresponding period of the last FY.
Out of 16 development banks, Lumbini Bikas Bank raised its net profit by 205.23 percent. the bank that earned Rs 36.3 million in net profit in the review period of the last FY earned Rs 110.8 million of the review period of the current FY.
During the period, Muktinath Bikas Bank earned the highest profit of Rs 157.2 million. Although the bank earned the highest net profit among all banks, its net profit declined by 7.28 percent compared to the review period of the last FY.
5 banks incur loss
By the period, five development banks incurred loss. Among the banks, Excel Development Bank earned the highest loss of Rs 104.2 million followed by Karnali Development Bank, Sindhu Bikas Bank, Narayani Development Bank and Corporate Development Bank.
