| The deposits of country's commercial banks increased in the third quarter of the current fiscal year and along with the deposits, net profits and lending of the 25 commercial banks of Nepal have also gone up. The third quarterly report of Nepal Rastra Bank (NRB) shows that the country's banks have continued their growth despite global economic crisis. According to the unedited financial figures of NRB, Nepali commercial banks collected 27.35 percent more deposit up to the third quarter of this fiscal year compared to the corresponding period last year. The central bank's figures show 25 commercial banks have amassed Rs. 502.55 billion as deposits during the period against the Rs. 394.62 billion collected during the corresponding period last year. The deposit figures for the third quarter of fiscal year 2008/09 also included Rs. 50.87 billion in foreign currency and the remaining in domestic currency. Rastriya Banijya Bank(RBB), the largest bank of the country, collected the most deposits in the period followed by Nepal BankLtd. (NBL). RBB collected Rs. 60.67 billion while NBL collected Rs. 42.60 billion during the first quarter of this year. But Nepal Investment Bank (NIB) is fast catching of these two banks in terms of deposits. Likewise, collective loans and advances of the banks increased by 31.44 percent during the first quarter of the current fiscal year. The commercial banks provided loans and advances amounting Rs. 356.46 billion against Rs. 271.19 billion provided by the 23 banks in last fiscal year's third quarter. Nepal Investment Bank Ltd. was the largest provider of loans and advances during the period with Rs 34.41 billion followed by Agriculture Development Bank, Nepal(ADBN) with Rs. 30.46 billion,the NRB report said. Commercial banks collectively earned a net profit of Rs. 9.66 billion during the period against Rs. 6.35 billion last year. Among the 25 banks, RBB declared the highest net profit amounting Rs. 1.54 million, followed by Nepal Bangladesh Bank which posted net profit of Rs 939.22 million. |
| Source: Ekantipur.com |
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