Commercial Banks' Profits Rise 11.51% in Mid-Fiscal Year Despite Economic Headwinds
Summary
Profits of commercial banks in Nepal rose by 11.51% in the first half of fiscal year 2082/83, led by Nabil Bank and Kumari Bank despite economic challenges such as rising non-performing loans and reduced credit flow.
Key Points
- Commercial banks in Nepal increased their profits by 11.51% to NPR 30.59 billion in the first half of fiscal year 2082/83.
- Nabil Bank led profitability with a 46.71% profit increase, earning NPR 4.76 billion during this period.
- Kumari Bank recorded the highest profit growth at 886.50%, reaching NPR 2.72 billion by reducing non-performing loans.
- Eight banks faced profit declines and one bank, Laxmi Sunrise Bank, moved into loss due to increased impairment charges and economic slowdown effects.
