Commercial banks pay 23.56 percent more income tax as their profits surge
Summary
Commercial banks in Nepal paid Rs 32.80 billion in income tax in FY 2024/25, a 23.56% increase from the previous year, driven by a 43.38% rise in their net profits.
Key Points
- Commercial banks in Nepal paid Rs 32.80 billion in income tax in FY 2024/25, a 23.56% increase from the previous year.
- Banks reported net profits of over Rs 71.18 billion last year, marking a 43.38% increase.
- Kumari Bank paid the highest income tax of Rs 3.66 billion, triple its previous year’s amount.
- NIC Asia Bank saw the largest decline in tax payment, falling by 77.51%.
- Nabil Bank, Nepal Investment Mega Bank, Global IME Bank, and Everest Bank also paid significant income taxes, with varying growth rates.
