Kathmandu. The profit of development banks has increased by about 32 percent in the second quarter of the current fiscal year 2082÷83 due to the reverse impairment charge set aside for loan loss. The operating profit of most of the banks has improved due to the reduction in provisioning expenses.

As of mid-January, the development banks have earned a net profit of Rs 3.42 billion. Such profit had been Rs. 2.59 billion in the same period of the previous year.

During this period, the profit of most of the national level development banks has increased, while the financial details released by the banks at the district level show that some banks are in loss. On the basis of profit, Muktinath Bikas Bank has been in the top position. The bank earned a net profit of Rs 67.20 crore as against Rs 54.28 crore in the previous year, up 23.81 percent.

Garima Bikas Bank has earned a net profit of Rs 63.51 crore. The bank had posted a net profit of Rs 54.92 crore in the previous year. Shine Resunga Bikas Bank has earned a net profit of Rs 40.42 crore as against Rs 33.08 crore in the previous year. Kamana Sewa Bikas Bank has earned a net profit of Rs 39.45 crore as against Rs 32.24 crore in the previous year.

Jyoti Bikas Bank has earned a net profit of Rs 31.12 crore. The bank had posted a net profit of Rs 25.13 crore in the previous year. Shangrila Development Bank made a net profit of Rs 30.25 crore as against Rs 19.65 crore in the previous year. Mahalaxmi Bikas Bank has earned a net profit of Rs 30.59 crore as against Rs 28.74 crore in the previous year.

Lumbini Bikas Bank has earned a net profit of Rs 28.53 crore as against Rs 14.76 crore in the previous year. Miteri Bikas Bank made a profit of Rs 5.70 crore as against Rs 2,58,81,000 in the previous year.

Green Development Bank made a profit of Rs 1,10,02,000 as against Rs 87.29 crore in the previous year. Corporate Development Bank earned a net profit of Rs 1,29,42,000 as against Rs 1,07,000 in the previous year.

At the same time, three banks are still incurring losses. Salpa Bikas Bank has a loss of Rs 20.40 million, compared to Rs 13.92 lakh in the previous year. Sindhu Bikas Bank reported a net loss of Rs 1,54,68,000 as against a net profit of Rs 4.87 crore in the previous year. Narayani Bikas Bank posted a loss of Rs 4.73 crore as against a loss of Rs 52.13 lakh in the previous year.

Saptakoshi Bikas Bank, on the other hand, seems to be improving. The bank made a profit of Rs 2.68 crore in the review period as against a loss of Rs 2.99 crore in the previous year. Excel Development Bank has also returned to profit from loss. The bank posted a net profit of Rs 8.85 crore as against a loss of Rs 9.05 crore in the previous year.