KATHMANDU: Nabil Bank has recorded Rs 3.56 billion profit in the fourth quarter of the previous fiscal year which ended in mid-July.
As per the the financial report of 2019-20 published by the bank, Nabil Bank witnessed a decline in its net profit by 15.86% in the fourth quarter compared to the previous year to RS 3.56 billion. The bank had recorded Rs 4.23 billion profit during the same period previous year.
The decline in net profit is mainly due to the high impairment charge (provision) for loans and other losses and increased personnel expenses.
Meanwhile, Nabil Bank’s operating profit has decreased by 15.48% to Rs 5.09 billion in the fourth quarter in FY 2019-20. Nabil’s deposit from customers increased by 17.09% to Rs 1.9 billion whereas loans and advances to customers increased by 16.26% to Rs 1.48 billion.
Nabil Bank’s paid-up capital stands at Rs 10.09 billion.