Kathmandu. Nepal Rastra Bank has released the financial performance report for commercial and development banks for till the second month of the fiscal year 2081/82, ending in Bhadra. financial report for the first quarter of fiscal year 2081/82, Nepal's commercial banks collectively reported a 21.63% increase in net profit, reaching Rs 16.23 Arba for the period.

Commercial Banks
20 commercial banks, 12 recorded growth in earnings, while the remaining 8 saw a decline in net profit. Nabil Bank led the pack with the highest net profit, earning Rs 2.05 Arba, a 39.97% rise compared to the same period last year. Global IME Bank followed with a profit of Rs 1.51 Arba, while Nepal Investment Mega Bank took the third spot, securing Rs 1.46 Arba in net profit.

NIC Asia Bank posted the lowest profit, with earnings of Rs 11.05 Crores in Q1 2081/82. Meanwhile, Siddhartha Bank reported the highest improvement, with an extraordinary 791.46% surge in net profit, and Laxmi Sunrise Bank also saw significant growth, with a 420.53% rise in net profit during the review period.

Development Banks

The development banking sector reported a total net profit of Rs. 1.64 Arba, despite six out of the 17 development banks facing losses. Muktinath Bikas Bank led the sector, reporting a net profit of Rs. 32.58 Crores, outpacing Muktinath Bikas Bank, Shine Resunga Development Bank which posted Rs. 21.54 Crores in net profit. Garima Bikas Bank followed closely with earnings of Rs. 28.89 Crores. At the lower end of the spectrum, Salapa Bank and Corporate Development Bank recorded minimal earnings, with Rs. 48.5 lakhs and Rs. 38.8 lakhs, respectively.

Finance
Despite facing losses reported by four out of the 17 companies in this category, the finance sector in Nepal recorded a net profit of Rs. 36.43 Crores. ICFC Finance showcased remarkable performance, reporting an impressive net profit of Rs. 8.57 crore. Progressive Finance followed closely with earnings of Rs. 8.17 crore.

On the flip side, Capital Merchant Banking & Finance, NSML, Best Finance Company, and Samriddhi Finance Company faced challenges as they grappled with net losses during the same period.