The 25 commercial banks have boosted their deposits, net profits and lending in the third quarter of this year.
The third quarterly report of the Nepal Rastra Bank (NRB), the central monetary regulatory body, mentions that the national banks continue their positive growth amidst the global meltdown.
The report says Nepal’s commercial banks raised 27.35 percent more deposits, totaling Rs 502.55 billion including foreign currencies equivalent to Rs 50.87 billion, in the third quarter this year compared to same period last year. Last year they had collected only Rs. 394.62 billion.
Government-owned Rastriya Banijya Bank collected largest amount (Rs 60.67 billion) followed by another state-owned Nepal Bank Ltd. (42.60 billion). However, the private Nepal Investment Bank is fast catching these two banks in terms of deposits.
Similarly, loans and advances of the commercial banks increased by 31.44 percent, amounting to Rs. 356.46 billion against last year’s figures of Rs. 271.19 billion.
Nepal Investment Bank Ltd. was the largest provider of loans and advances, which provided Rs 34.41 billion, followed by Agriculture Development Bank, Nepal (ADBN) with Rs. 30.46 billion.
The banks in total earned a net profit of Rs. 9.66 billion compared to Rs. 6.35 billion same period last year. RBB has earned highest net profit amounting Rs. 1.54 million, followed by Nepal Bangladesh Bank which posted net profit of Rs 939.22 million.