Top 20 Commercial Banks Report Q4 FY 2080/81 Results: Nabil Bank's Profit Chart is Top with Rs 7.06 Arba

Sep Sun 2024 02:59:27

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Top 20 Commercial Banks Report Q4 FY 2080/81 Results: Nabil Bank's Profit Chart is Top with Rs 7.06 Arba

After the merger of Nepal Investment Bank and Mega Bank Nepal, the integrated business has started under the name of Nepal Investment Mega Bank Limited. After Himalayan Bank acquired Civil Bank and started integrated business, the number of banks has been limited to 20.

The study of Nepal Rastra Bank showed that the number of commercial banks in Nepal is high and only 15 commercial banks are needed in the country. The study suggested to go for merger and acquisition to reduce the number of banks and financial institutions. Also, it has been suggested to be careful in case there is no competition.

Twenty commercial banks have released their unaudited financial statements for the fourth quarter of the fiscal year 2080/81, the net profit of Rs 64.15 Arba during this period.

Nabil Bank emerged as the most profitable bank, with a net profit of Rs 7.06 Arba, marking a 10.23% increase from the same period the previous fiscal year. Global IME Bank followed with a profit of Rs 6.01 Arba, and Nepal Investment Mega Bank secured the third position with Rs 5.19 Arba in net profit.

Machhapuchhre Bank recorded the lowest net profit, earning Rs 1.25 Arba by the end of the last fiscal year. Citizens Bank International and NIC Asia Bank each reported profits hovering around Rs 1.3 Arba, while Nepal Bank earned Rs 1.65 Arba.

Prabhu Bank demonstrated the most significant improvement, with a net profit increase of 1499.04% during the review period. Kumari Bank's net profit rose by 345.67%, Prime Commercial Bank's by 267.19%, and Agriculture Development Bank's by 176.23%. The substantial profit increases are attributed to the revision of the previous fiscal year's financial statements.

NIC Asia Bank experienced the steepest decline, with net profit falling by 68.91%. Nepal Bank's net profit decreased by 51.80%, while Citizens Bank International's net profit dropped by 27.97%.



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