KATHMANDU: Nepal News presents today’s snapshot of Nepal’s economic activities. Get quick updates on major market movements, policy shifts, and financial developments shaping the economy of Nepal. Here are the key economic highlights for today:

Profit of Nepal’s Banking Sector Declines by 18.78%

The profit of Nepal’s banking sector has decreased. According to the first-quarter financial reports of fiscal year 2025/26 published by commercial banks, profits declined by 18.78 percent, totaling Rs 13.14 billion. In the same period last year, banks had earned Rs 16.18 billion in profit. The main reasons behind the decline are excess liquidity in the market and difficulty in loan repayments. Out of 20 commercial banks, 15 banks reported lower profits during this period.

Finance Minister Khanal Calls for Coordinated Action to Curb Revenue Leakage

Finance Minister Rameshore Prasad Khanal emphasized the need for coordination among relevant agencies to address weaknesses in revenue collection and prevent leakage. He made the remarks during a meeting of the Revenue Leakage Control Coordination Committee held on Friday at the Birgunj Customs Office. Minister Khanal requested all agencies to work together to control smuggling, stressing coordination between relevant authorities rather than merely intercepting goods on transit routes.

NRB to Invest Rs 2.71 Billion Through Fixed Deposits

Nepal Rastra Bank (NRB) is set to invest Rs 2.71 billion through fixed deposits in various banks. The central bank plans to deposit this amount from its different funds into commercial banks, development banks, and finance companies. According to NRB, the investment will be made in Class A commercial banks, Class B national-level development banks, and Class C national-level finance companies.

Panel Recommends Restructuring Nepal Airlines into Three Entities

The High-Level Study and Recommendation Committee formed to reform the civil aviation sector has proposed dividing Nepal Airlines Corporation (NAC) into three entities. The report, submitted under the chairmanship of Industry, Commerce, and Supplies Minister Anil Kumar Sinha, recommends converting NAC into a public company under the Company Act, ensuring capital adequacy, and registering its shares through government-owned institutions and funds.

Surge in Foreign Investment Commitments in First Quarter

Foreign investment commitments in Nepal have shown significant growth in the first three months of the current fiscal year, according to data released by the Department of Industry. Between mid-August to mid-October, investment approvals worth Rs 35.13 billion were granted across various sectors. In the same period, 311 industries were registered. The department stated that as of November 5, an additional 24 industries had been registered.

SEBON Paralyzed for 45 Days Amid Employee Protest

The operations of the Securities Board of Nepal (SEBON) have been paralyzed for 45 days as employees protest against the Finance Ministry’s decision to cut their benefits. The strike began on September 23, and since then, no official work has been conducted. Initially, employees had allowed the Chairperson Santosh Narayan Shrestha and board members to enter the office, but they have now blocked entry and demanded the chair’s resignation.

Government to Decentralize Taxpayer Services to Local Levels

With most tax-related services now digitized, the government has decided to make local levels the starting point for taxpayer identification. The federal government is moving forward to abolish all Taxpayer Service Offices across the country by the next fiscal year and decentralize operations to local governments.

Eleven Industries Still Without Power Due to Unpaid Premium Fees

Out of 25 industries that had their power cut off by the Nepal Electricity Authority for failing to pay dedicated/trunk line premium charges, 11 industries remain disconnected. NEA had cut electricity to 23 industries on October 21 and 24, while two others had already shut down. After several industries paid their dues during Tihar, NEA reconnected power for 12 industries, including Gharana Foods and Goyanka Foods.

Rastriya Banijya Bank to Issue Rs 3 Billion Debenture

Rastriya Banijya Bank (RBB) will issue “6% RBBL Debenture” worth Rs 3 billion. The bank appointed Kumari Capital Limited as the issue and sales manager for the 3 million units, each with a face value of Rs 1,000. An agreement regarding this was signed on Thursday at the bank’s central office.

Mobile Banking Users in Nepal Reach 27.7 Million

The number of mobile banking users in Nepal has reached approximately 27.7 million. Siddhartha Bank alone has 1.159 million users, accounting for about 4 percent of total users. During the review period, total mobile banking transactions across all banks amounted to Rs 5,018 billion. Siddhartha Bank handled Rs 342 billion, representing 7 percent of the total. Despite having only 4 percent of total users, Siddhartha Bank contributed 7 percent of the transaction volume, showing high activity and customer trust in its mobile banking services.

Fertilizer Distributed to 386 Cooperatives in Sudurpashchim

The Agricultural Inputs Company Limited (AICL) provincial office in Dhangadhi has been distributing government-subsidized fertilizers through cooperatives assigned quotas in coordination with local municipalities. The office sells fertilizers to 386 agricultural cooperatives. From mid-September to mid-October, it sold 952 metric tons of urea and 869 metric tons of DAP. The remaining 2,154 metric tons of DAP and 166 metric tons of urea are being distributed.

Paddy Procurement Begins in Kailali

The Food Management and Trading Company Limited has begun purchasing paddy from designated pocket areas, operating 13 collection centers across Nepal. In Kailali district, paddy is being purchased through six sub-centers — Bhajani, Mohanpur, Satti, Gauriganga, Joshipur, and Tikapur. According to regional head Deepak Thapa, farmers are lining up in large numbers. The target for Kailali is 35,000 quintals of paddy.

Triveni Synthetic Yarn Pays Pending Premium, Power Restored

Triveni Synthetic Yarn Industries Pvt. Ltd., operating in the Bara-Parsa Industrial Corridor, has cleared its outstanding premium charges for using electricity through dedicated and trunk lines during the load-shedding era. After the first installment payment, the Nepal Electricity Authority (NEA) reconnected its electricity supply on Thursday evening, which had been cut off on October 21, according to NEA.

Global IME Bank Records Rs 1.85 Billion Net Profit in First Quarter

Global IME Bank earned a net profit of Rs 1.85 billion in the first quarter of the current fiscal year; an increase of 22.92 percent compared to the same period last year. In the first quarter of fiscal year 2024/25, the bank had made Rs 1.51 billion in profit. The growth is attributed to a rise in net interest and commission income and a slight reduction in loan-loss provisioning. Global IME became the highest profit-earning bank in the first quarter based on unaudited results.

Laxmi Sunrise Bank’s Profit Drops by 38%

Laxmi Sunrise Bank reported a significant 38.04 percent decline in profit in the first quarter of the current fiscal year. The bank earned Rs 336.3 million, compared to Rs 536.3 million in the same period last year, according to its unaudited report.

Prime Commercial Bank’s Distributable Profit Reaches Rs 3.04 Billion

Prime Commercial Bank recorded a distributable profit of Rs 3.04 billion as of mid-October. According to the first-quarter financial statement, its earnings per share (EPS) stood at Rs 19.68. The high distributable profit is attributed to undistributed dividends from the previous fiscal year. However, the bank’s net profit has slightly decreased.

Shine Resunga Bank to Offer National-Level Payment Card

Shine Resunga Development Bank will now offer a national-level payment card to its customers. The bank signed an agreement with Nepal Clearing House Limited (NCHL) for principal membership of the National Card Switch and NepalPay Card. The agreement was signed on November 4 by CEO Prakash Paudel on behalf of the bank and Nilesh Man Singh Pradhan, CEO of NCHL.

Mountain Energy Declares 21.05% Dividend for Shareholders

Mountain Energy Nepal Limited has announced a 21.0526 percent dividend for its shareholders. The board meeting held on Thursday evening decided to distribute 1.0526 percent cash dividend (for tax purposes only) and 20 percent bonus shares. The company has also proposed to hold its annual general meeting on December 15.

Gold Price Rises by Rs 600 Per Tola in Nepal

Gold prices in the Nepali market increased slightly on Friday. According to the Federation of Nepal Gold and Silver Dealers’ Association, gold rose by Rs 600 per tola compared to the previous day. The price of hallmark gold reached Rs 238,400 per tola on Friday, up from Rs 237,800 per tola on Thursday. The price of silver also increased.