11th November 2021, Kathmandu
The net profit of development banks has increased by 43%, but which bank is at the top of the list?
The 16 listed development banks made a net profit of Rs 1.51 billion in the first quarter of this fiscal year. The net profit climbed by 43.36 % from Rs 1.05 billion in the previous fiscal year’s similar period.
Karnali Development Bank has the highest net profit growth of all of them. The bank’s net profit grew by 558 % to Rs 22.7 million.
Muktinath Bikas Bank, on the other hand, had the greatest net profit over the period. The bank had a net profit of Rs 345.5 million, up 17.48 % over the previous fiscal year’s review period.
Similarly, Mahalaxmi Bikas Bank has risen to second place on the list. It made a net profit of Rs 230.5 million during the time, up 44.28 % over the previous fiscal year.
Meanwhile, three of the 16 development banks have lost money. The bank with the most losses, Saptakoshi Development Bank, has lost Rs 110 million.
During the same period, Sindhu Bikas Bank lost Rs 6.6 million and Narayani Bikas Bank lost Rs 0.9 million.
