Kathmandu, November 9
In the first quarter of the current FY, the 16 listed development banks have earned net profit of Rs 1.51 billion. The net profit increased by 43.36 percent compared to rs 1.05 billion of the corresponding period of the last FY.
Out of them, Karnali Development Bank logged the highest growth in its net profit. The net profit of the bank increased by 558 percent to Rs 22.7 million.
Similarly, Muktinath Bikas Bank logged the highest net profit earning during the period. The bank earned Rs 345.5 million in net profit which is 17.48 percent growth compared to the review period of the last FY.
Likewise, Mahalaxmi Bikas Bank has become a runner up in the list. It earned Rs 230.5 million net profit during the period, which is 44.28 percent growth compard to the last FY.
Meanwhile, out of 16 development banks, three have incurred loss. Saptakoshi Development Bank has the highest losses of Rs 110 million.
Sindhu Bikas Bank incurred Rs 6.6 million losses and Narayani Bikas Bank logged Rs 0.9 million in losses during the period.
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