Development Banks Surge with 50% Profit Growth: Garima Leads the Market as Lumbini Records 1028% Growth
Summary
The development banking sector experienced a 49.57% net profit increase, led by Garima Bikas Bank and a remarkable 1028% growth from Lumbini Bikas Bank, while some banks still faced losses.
Key Points
- The development banking sector's aggregate net profit rose by 49.57%, reaching Rs. 5.81 billion.
- Garima Bikas Bank led the sector with Rs. 1.04 billion net profit, a 42.91% increase.
- Lumbini Bikas Bank recorded an extraordinary 1028.26% profit growth.
- Some banks, including Salapa Bikas Bank, Sindhu Bikas Bank, and Narayani Development Bank, reported net losses.
