Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The national-level development banks have reported a significant decline in net profits during the first quarter of the ongoing fiscal year 2082/83.
According to the financial statements made public, eight development banks collectively earned Rs 78 crore 34 lakh 54 thousand in net profit, marking a 45.20% decline compared to the same period of the previous fiscal year. In the corresponding period last year, their profit stood at Rs 1.42 billion.
Banking sector analysts attribute the decline to reduced credit demand, liquidity pressure, rising cost of funds, and weakened business confidence in the economy. Despite the downturn, a few banks managed to grow their profits.
| Total | 783,454 | 1,429,543 | -45.20% |
Top Performers
Garima Development Bank posted the highest profit of Rs 25.05 crore, up 11% from last year.
Kamana Sewa Development Bank and Mahalaxmi Bikas Bank also registered modest growth.
Sangrila Development Bank recorded the strongest profit surge, climbing 46.58% year-on-year.
Banks Facing Decline
Muktinath, Shine Resunga, and Jyoti Bikas Bank reported notable profit drops.
Jyoti Bikas Bank’s profit declined the most, falling over 53%.
Several banks struggled due to weak loan recovery and lower credit expansion.
Your email address will not be published. Required fields are marked *
Comment *
Name *
Email *
Website
Save my name, email, and website in this browser for the next time I comment.
