Kathmandu. Among the operating commercial banks, Nepal Investment Mega Bank (NIMB) has earned the highest profit. The first quarter financial statements of the current financial year 2080/81 published by the banks on Friday showed this. According to the details, NIMB is ahead in terms of profit.

In the first quarter, the banks have earned a total net profit of 13.47 billion rupees. However, among the 20 banks, NIMB earned the highest profit. During the review period, NIMB has earned a total profit of 1 billion 52 crore 22 lakh 99 thousand rupees. Which is 33.46 percent more compared to the end of October last year. By the end of October last year, the bank had earned a profit of 1.14 billion rupees. In the first quarter of the current year, NIMB has also surpassed Nabil and Global IME Bank, which are considered excellent in terms of profitability.

In the first quarter of the current year, there has been a double-digit decline in the profits of commercial banks. By the end of October last year, the banks had earned a total profit of 16 billion 557 million rupees. However, during the same period of this year, it decreased by 18.60 percent. The effects of economic recession have been seen in the profits of banks.

Especially the increase in bad loans of banks has affected the profitability. In the first quarter, banks have set aside a large amount of income for impairment charges, which has affected their profits. During the review period, the profit of most of the banks has declined.

Nabil Bank's profit has decreased by 6.5 percent. In three months, Nabil has earned a profit of 1.46 billion 93 million rupees. However, during the same period last year, the bank earned a net profit of Rs 1.57 billion more than Rs.

Similarly, the profit of Global IME Bank, which is considered to be excellent, is also under pressure. Compared to last year, the bank has increased its profit by only 3 percent and reached a total of 1.225 billion rupees.

Prime Commercial Bank jumped to the fourth position of the most profitable. Compared to the end of October last year, Prime has increased its profit by 31.72 percent to 1.15 billion rupees.

According to details, Himalayan and Prabhu Bank have emerged in profit growth. During the period under review, Himalayan Bank has increased its net profit almost twice i.e. by 98.35 percent to 1 billion 561 million rupees. Similarly, Prabhu Bank has also secured its place in the billionaire club by increasing its profit by 46.69 percent. Prabhu Bank has made a profit of 1 billion 342 million rupees in three months.

Similarly, Machhapuchhre Bank has also increased its profit by 20.18 percent to Rs 542.22 million. On the other hand, NMB Bank also increased by 6.53 percent to Rs 96332 million and Standard Chartered Bank increased by 2 percent to Rs 8277 million.

Apart from these, the profit of banks has decreased. The profit of the government-owned Agricultural Development Bank is seen as negative by Rs 888 million. The profits of the other two government banks National Commercial Bank and Nepal Bank have also decreased by 9.50 percent and 76.43 percent respectively.

During the review period, the highest profit of Siddharth Bank decreased by 91.40 percent to 40 million 28 million rupees. Similarly, the profit of Lakshmi Sunrise Bank also decreased by 79.53 percent, Kumari by 73.64 percent, Citizen by 19.70 percent, Sanima by 11.91 percent and Everest Bank by 9.50 percent.