The profitability figures of commercial banks painted a more optimistic picture in the first quarter of the year.
Only four of the 27 banks have reported a decrease in profitability in the first quarter of the current fiscal year when compared to the corresponding quarter of the previous fiscal year. Despite this, all of the banks have recorded a profit.
Nepal Bangladesh Bank Limited has had the greatest percentage loss in net profit, with a decrease of 27.93 percent from the previous year. The Civil Bank Limited, meantime, has reported the biggest percentage gain in net profit, with an astonishing growth of 201.88 percent when compared to the same quarter of the previous fiscal year.
On the contrary, when it comes to raw numbers, the statistics reveals a different narrative altogether. NIC Asia Bank has announced the highest net profit number in the first quarter of the current fiscal year 2078/79, exceeding the previous quarter’s figure by a significant margin. The net profit of the commercial bank amounted to Rs. 1,18,06,91,000 as of December 31, 2018. Another banking behemoth, Nabil Bank, and Global IME Bank are also followed closely behind, with profits recorded at little more than Rs. 1.11 Arba every unit of revenue.