Kathmandu. As of mid-April 2020 of the current fiscal year, 10 national level development banks have earned net profit of around Rs 4 billion.

The 10 operating development banks have earned a profit of Rs 3.92 billion as of mid-April. Profit growth has increased by 10.43 percent.

Which is 7.78 percent more than that of commercial banks.

As of mid-April, 27 commercial banks had earned 2.65 percent net profit.

The national level development bank had earned a profit of Rs 3.55 billion in the third quarter of the last fiscal year, while the profit has increased by Rs 369.9 million to Rs 4.92 billion in the same period of the current fiscal year. The distributable profit of 10 development banks during the period was Rs. 779.8 million.

Muktinath Development Bank has been listed as one of the most profitable national level development banks during the review period. The bank has increased its profit by 8 percent during the period. The bank has increased its net profit from Rs 625.5 million to Rs 676 million by mid-April last year.

As of mid-April this year, five development banks have earned more than Rs 500 million and five development banks have earned more than Rs 200 million. Along with Muktinath Vikas, Garima Development Bank, Lumbini Development Bank, Sign Resunga Development and Jyoti Development Bank are among the development banks with a profit of Rs 500 million. Similarly, Mahalakshmi Development Bank, Gandaki Development Bank, Dev Development Bank, Sangrila Development Bank and Kamana Seva Development Bank have earned more than Rs 200 million till mid-April this year.

Jyoti Development Bank, Lumbini Development Bank and Gandaki Development Bank have earned a profit of more than Rs 200 million in the same period of the current fiscal year as compared to mid-April last year. Among the banks that have made a profit of Rs 100 million in the same period are Sangrila Development Bank, Dev Vikas Bank and Kamana Seva Vikas Bank.

As of mid-April, the net profit of 3 out of 10 national level development banks has decreased compared to the same period last year, while the profit of 7 development banks has increased. Among the development banks that have reduced profits are Dev Development Bank, Sangrila Development Bank and Gandaki Development Bank. The profit of the remaining seven development banks has increased from 1.62 percent to 52.77 percent in mid-April of the current fiscal year.