KATHMANDU, April 30: Net profit earnings of development banks also posted an impressive growth in Q3 of current FY.
A total of eight national level development banks earned profits of Rs 5.50 billion. The growth rate in earnings of ‘B’ class financial institutions was recorded at 49.04 percent. Garima Bikas Bank earned the largest of Rs 1.04 billion, with a growth of 42.91 percent.
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Likewise, finance companies earned net profits of Rs 704 million as of mid-April this year. It shows the growth of 271.22 percent in the same period last year.
Along with a surge in net profit earnings, the earning per share of 15 ‘C’ class financial institutions has reached Rs 5.69 on an average. Manjushree Finance led the segment with a net profit of Rs 218.91 million, a growth of 27.93 percent.
