April 25: The average net profit of 13 commercial banks have increased by 14.32 percent, according to the third quarterly financial details of the banks for the fiscal year 2017/18. The banks have recorded a total profit of Rs 2.10 billion more than the corresponding period of last FY.

The net interest of banks increased after their operation profit and net interest income increased. The collection of bad debt by banks also contributed to the increment of the net profit.

Nepal Bank has recorded the highest net profit in the recently published financial details while Century Commercial Bank stands in the first position in terms of growth percentage. Net profit of Century Bank has reached Rs 630 million with an increase rate of 102.62 percent. The bank witnessed increase in net interest income and operation profit by 59.28 percent and 81.22 percent respectively. The bank has collected deposit amounting to Rs 52.73 billion and disbursed more than Rs 50 billion loan in the current fiscal year.

The net profit of Nepal Bank in the current fiscal year stands at Rs 2.56 billion. Net interest income and operation profit of Nepal Bank increased by 12 percent and 41.67 percent respectively in the current fiscal year.