Development Banks of Nepal profit is over 7 billion

Aug Sun 2022 04:47:46

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Development Banks of Nepal  profit is over 7 billion

Kathmandu. According to last year's financial statement, the profit of development banks has increased by 31.34 percent compared to the previous year. Last year, development banks have managed to earn 7 billion 20 million 59 lakh 32 thousand rupees in net profit. In the same period of the previous year, the banks had earned a net profit of 5 billion 48 crore 63 lakh 25 thousand rupees.

Muktinath Bikas Bank has managed to become number one by earning the highest profit last year. The bank earned a profit of 1.37 billion rupees last year. Similarly, following Muktinath, Garima Development Bank has managed to earn a profit of 1 billion 566.53 thousand rupees. Statistics show that there is a fierce competition between these two banks to become number one.

The profit of Sangrila Development Bank has reached almost one billion rupees. Mahalakshmi, Jyoti, Lumbini, Shine Resunga, Kamna Seva and Sangrila Bank's profit is more than 500 million rupees.

In terms of percentage, Sindhu Bikas Bank has become aggressive in its profit growth. Among the development banks, Sindhu has seen the highest profit growth of 113.52 percent. Similarly, green development has increased by 86.34 percent. The Corporate Development Bank, which was in loss last year, made a profit of Rs 100.48 million last year.

Out of 16 development banks currently in operation, 2 banks are in loss. Last year, Narayani and Karnali Development Bank were in profit and loss.