Nabil Bank Records Highest Net Profit in Third Quarter of FY ➤

Nabil Bank Records Highest Net Profit in Third Quarter of FY

Despite Decrease in Net Profit, Bank Achieves Significant Milestone with Rs 4.66 Billion Earnings

Nabil Bank (NABIL) has emerged as a frontrunner in the financial sector, securing the highest net profit in the third quarter of the current fiscal year.

During this period, the bank raked in an impressive Rs 4.66 billion in net profit. While this marks a notable achievement, it represents a slight decrease of 8.76 percent compared to the corresponding period of the previous fiscal year, which stood at Rs 5.11 billion.

The decline in net profit can be attributed to a surge in expenses despite the bank’s efforts to boost its net interest income.

Throughout the review period, Nabil Bank demonstrated resilience by increasing its net interest income by 3.72 percent and net fee and commission income by 11.40 percent. Additionally, its total operating income surged by 4.35 percent, accompanied by a commendable 10.72 percent rise in operating profit.

With a distributable profit of Rs 1.54 billion, the bank showcases its commitment to delivering value to its stakeholders.

However, alongside the decline in net profit, the bank’s Earnings Per Share (EPS) also experienced a dip, plummeting by Rs 2.21 to Rs 23. Despite this, Nabil Bank maintains a favorable Price-to-Earnings (P/E) ratio of 18.85 times and boasts a robust net worth per share of Rs 208.39.

Bolstering its financial standing, the bank, with Rs 27.05 billion in paid-up capital, holds a substantial reserve fund of Rs 29.32 billion. Furthermore, Nabil Bank has significantly contributed to the economy by amassing deposits amounting to Rs 440 billion and extending loans totaling Rs 368 billion.

As a key player in the banking sector, Nabil Bank’s performance underscores its commitment to financial excellence and steadfast growth, positioning it as a trusted institution in Nepal’s banking landscape.