The collective profit of commercial banks increased by 15.45% to Rs 36.26 billion in the third quarter of the current fiscal compared to net profit of Rs 31.4 billion in the corresponding period of the previous fiscal, according to the unaudited financial statements published by 28 commercial banks in operation.
Government owned Rastriya Banijya Bank (RBB) topped the list of profit makers, followed by Nepal Investment Bank, Nabil Bank, Nepal Bank and Everest Bank. RBB was able to generate a profit of Rs 3.09 billion till the third quarter of this fiscal, followed by Rs 2.83 billion of Nepal Investment Bank, Rs 2.8 billion by Nabil Bank, Rs 2.57 billion by Nepal Bank and Rs 1.8 billion by Everest Bank.
Profits of 15 commercial banks crossed the billion rupee mark in the third quarter. Only 11 commercial banks had generated profit of above a billion rupees in the corresponding period of the previous fiscal.
Profit of Prabhu Bank dropped heavily by 40% to Rs 867.12 million in the review period of this fiscal, followed by Machhapuchchhre Bank and NIC Asia Bank as their profits dipped by 18.9% and 18.51% to Rs 815 million and Rs 927.6 million respectively.
In terms of profit growth, Nepal Credit and Commerce (NCC) Bank topped the list with profit growth of 225%, followed by Civil Bank at 126.65%, Century Commercial Bank at 102.63%, Kumari Bank at 87.73% and Janata Bank Nepal at 50.76 per cent%. Profits of NCC Bank stood at Rs 543.15 million, Civil Bank at Rs350.05 million, Century Commercial Bank at Rs 630.05 million, Kumari Bank at Rs 705.68 million and Janata Bank Nepal at Rs 575.73 million, as per the unaudited financial statements of the commercial banks.
Civil Bank, Mega Bank Nepal, NCC Bank, Janata Bank Nepal and Century Commercial Bank were in the bottom five as their profits in the third quarter stood at Rs 350.05 million, Rs 524.9 million, Rs 543.15 million, Rs 575.73 million and Rs 630.05 million respectively.