February 6: A total of 28 commercial banks have recorded an increase of 10.4 percent profit in the second trimester of the current fiscal year. The unaudited financial statements released by the banks have shown such figure as compared to the corresponding period of last FY.

The banks had recorded profit of Rs 20.83 billion in last FY while the profit this FY stood at Rs 23.9 billion.

In the review period, Nepal Credit and Commerce (NCC) Bank recorded the highest rate increase in profit. NCC Bank recorded 357 percent increase in profit. The profit of the banks has been attributed to the recovery of bad loans. Due to the collection of bad loans, the bank’s income from interest also went up, contributing to the overall increase in  profit.