Commercial bank's profits increased 112%, Global IME Bank the biggest gainer

Oct Fri 2020 06:01:48

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Commercial bank's profits increased 112%, Global IME Bank the biggest gainer

Commercial banks have made a net profit of Rs. 12.21 billion in the second month of the current fiscal year. The profit of 27 commercial banks operating in the first month of the current fiscal year is Rs. 6.46 billion more than in July.

According to Nepal Rastra Bank, the banks had made a net profit of Rs 5.75 billion in the first month of the current fiscal year. Banks' profit in August was 112 percent higher than in August. Although the flow of credit to the banks has been slow due to the coronavirus and the government has imposed a lockout and a ban, it has not affected the profits much.

Compared to August of the last fiscal year, the profit of banks has decreased in the same month of the current fiscal year. Banks had made a net profit of Rs 13.21 billion in August / August of the last fiscal year. This is an increase of 7.58 percent compared to August / August of the current fiscal year. Banks have made a net profit of Rs 12.21 billion in August this year.

According to the data provided by Nepal Rastra Bank, Global IME Bank has made the highest profit till August. The bank has made a net profit of Rs 1.44 billion as of August / August of the current fiscal year. The bank's profit has almost doubled compared to the same period last fiscal year. The bank had earned a net profit of Rs 591.4 million in August last year.

Similarly, Civil Bank has been making the lowest profit till August. The bank has made a net profit of only Rs 123.4 million during the period.