Nepal’s commercial banks have earned more than 19 billion rupees in profit during the first four months of the current fiscal year. But compared to last year, their earnings have dropped sharply.
According to Nepal Rastra Bank, commercial banks made 19.37 billion rupees in profit by the end of the fourth month. This is a decline of a little over 13 percent from the same period last year, when banks had made 22.29 billion rupees.
Impact of the Gen Z protest
The profit drop is linked to the Gen Z protest that took place on Bhadra 23 and 24. After the protest, many loan recoveries slowed down. This reduced the interest income of banks and directly affected their profits.
Most banks see lower earnings
Out of all commercial banks, only four have increased their profit compared to last year. Sixteen banks have seen their earnings shrink.
Global IME Bank earned the highest profit, making 2.51 billion rupees in four months. Its profit grew by nearly 19 percent compared to last year.
Nabil Bank earned the second-highest profit of 2.46 billion rupees, although this is about 8 percent lower than last year.
Prime Bank earned 1.58 billion rupees.
Everest Bank earned 1.51 billion rupees.
NMB Bank earned 1.18 billion rupees.
Kumari Bank earned 1.13 billion rupees.
Rastriya Banijya Bank earned 1.13 billion rupees.
Standard Chartered Bank earned 915.8 million rupees.
Himalayan Bank earned 823.2 million rupees.
Nepal Bank earned 809.8 million rupees.
Sanima Bank earned 779.2 million rupees.
Prabhu Bank earned 737.7 million rupees.
Nepal SBI Bank earned 672 million rupees.
Siddhartha Bank earned 662.7 million rupees.
Nepal Investment Mega Bank earned 630.9 million rupees.
Laxmi Sunrise Bank earned 628.1 million rupees.
Machhapuchhre Bank earned 609.9 million rupees.
NIC Asia Bank earned 343.4 million rupees.
Agricultural Development Bank earned 74.9 million rupees.
Citizens Bank earned 16.4 million rupees.
Banks with growing profit
Compared to last year, only Global IME Bank, Everest Bank, Rastriya Banijya Bank, and Sanima Bank have improved their profit this time.
