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Net Profit of Commercial Banks Increases in the 1st Quarter

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Net Profit of Commercial Banks Increases in the 1st Quarter
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November 13: The 14 out of 28 commercial banks which have published the quarterly report of the first three months of the current FY have increased their net profit. The banks have been successful to increase their net profit through increasing investment, interest income and recovery of non-performing loans of the last FY.

Among the first quarter report publisher commercial banks, NMB bank has been able to obtain the highest net profit. In the first three months of the current FY, the net profit of the bank increased by 147.58 percent to Rs 353.6 million. The bank earned Rs 140 million in the corresponding period of the last FY. In the review period, the bank increased its investment by 111 percent, loan extension by 102 percent, net interest income by 159 percent and operational profit by 102 percent. The bank was also able to recover 160 million non-performing loan of the last FY.

Similarly, Citizens Bank International has been able to increase its net profit by 141.74 percent to Rs 345.1 million from Rs 140 million of the corresponding period of the last FY.

Likewise, Sunrise Bank has earned Rs 253.1 million net profit in the first three months of the current FY which is 114 percent growth than the corresponding period of the last FY. Meanwhile, Siddhartha Bank increased its net profit by 109.07 percent to Rs 359.3 million.

On the basis of total amount, Nabil Bank has topped the list. Nabil Bank has been able to earn Rs 798.3 million net profit in the first quarter of the current FY. The amount is 22.17 percent more than the corresponding period of the last FY. Similarly, Nepal Investment Bank  earned Rs 740.8 million net profit during the first three months of the current FY which is 74 percent growth from the corresponding period of the last FY. 

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