Banks report 4.62% net profit drop in first half of 2024/25

KATHMANDU: The net profit of commercial banks fell by 4.62% to Rs 27.43 billion in the first six months of the current fiscal year 2024/25.

Banks had posted a net profit of Rs 28.76 billion during the same period of the previous fiscal year.

Nabil Bank Ltd registered the highest net profit of Rs 3.24 billion among the 20 commercial banks in the country during the review period.

An analysis of provisional financial statements of these 20 commercial banks for the first half of the current fiscal year shows that 11 banks posted net profit growth, while nine recorded declines. Prabhu Bank reported an 85.48% growth in net profit, reaching Rs 2.01 billion in the first six months of 2024/25, compared to Rs 760 million in the previous fiscal year.

NIMB, Global IME, NMB Bank, and Everest Bank followed with net profit growths of 57.18%, 49.51%, 45.6%, and 21.1%, respectively. While NIMB Bank and Global IME reported net profits of Rs 2.83 billion and Rs 3.24 billion, respectively, in the first six months of 2024/25, NMB Bank and Everest Bank recorded net profits of Rs 2 billion and Rs 2.07 billion, respectively.

NIC Asia saw its net profit plunge by 92.03% to Rs 150 million in the first six months of the current fiscal year, compared to Rs 1.9 billion in the same period of the previous fiscal year. Kumari Bank and Rastriya Banijya Bank Ltd followed with net profit drops of 68.2% and 62.13%, respectively.