Nepal SBI Bank Limited has reported a 38% decline in net profit in the first quarter of the fiscal year 2082/83.

According to the bank’s unaudited financial report, the net profit dropped to Rs. 500 million, down from Rs. 810 million recorded during the same period last fiscal year. The bank’s distributable profit also fell by 19%, decreasing from Rs. 1.86 billion to Rs. 1.50 billion as of the end of Ashoj.

As of the review period, Nepal SBI Bank’s paid-up capital stood at Rs. 10.89 billion. The bank holds deposits worth Rs. 212 billion and has extended loans and advances totaling Rs. 138 billion.

The credit-to-deposit (CD) ratio for the period was 67%, while the non-performing loan (NPL) ratio stood at 3%.

Due to limited loan expansion, the bank’s base rate declined by 22.80%, reaching 5.96%, compared to the same period last year.