IMPACT OF CREDIT RISK ON PROFITABILITY

OF NEPAL BANK LIMITED IN NEPAL

A Project Work Report

Prepared By:

Narendra Adhikari

Symbol No: 702040025

TU Registration: 7-2-204-78-2018

Kanakai Multiple Campus,

Kanakai, Surunga, Jhapa

Submitted To:

Faculty of Management

Tribhuvan University

Kathmandu

In the partial fulfilment of the requirements for the degree of

BACHELOR OF BUSINESS STUDIES [BBS]

April, 2023
 DECLARATION

I hereby declare that the project work entitled "IMPACT OF CREDIT RISK ON
PROFITABILITY OF NEPAL BANK LIMITED IN NEPAL" submitted to the
Faculty of Management, Tribhuvan University, Kathmandu is an original Piece of
work under the supervision of Mr. Dilli Bahadur Bhattarai, Faculty Member,
Kanakai Multiple Campus, Kanakai-3, Surunga, Jhapa and is submitted in partial
Fulfillment of the requirements for the award of the degree of Bachelor of Business
Studies (BBS). This project work report has not been submitted to any other
university or Institution for the award of any degree or diploma.

Signature
Narendra Adhikari
Date:

ii
 lqe'jg ljZjljBfnoaf6 ;DaGwg k|fKt Email: kanakai.campus47@gmail.com
Affiliated to Tribhuvan University 023-552153

sgsfO{ ax'd'vL SofDk; 023-552853

9852652853

KANAKAI MULTIPLE CAMPUS

sgsfO{ gu/kflnsf–#, ;'?·f, emfkf
r=g+= (Ref. No.) M Kanakai Municipality-3, Surunga, Jhapa
k=;+= (Letter No.) M Accredited by UGC, Nepal (2022 A.D.) ldlt (Date) M

SUPERVISOR’S RECOMMENDATION

The project work report entitled "IMPACT OF CREDIT RISK ON

PROFITABILITY OF NEPAL BANK LIMITED IN NEPAL" submitted by
Narendra Adhikari Poudel Kanakai Multiple Campus, Kanakai-3, Surunga, Jhapa is
Prepared under my supervision as per the procedure and format requirements laid by
the Faculty of Management, Tribhuvan University, as partial fulfillment of the
requirements For the award of the degree of Bachelor of Business Studies (BBS). I,
therefore recommend the project work report for evaluation.

Signature:
Dilli Bahadur Bhattarai
Kanakai Multiple Campus
Date:

iii
 lqe'jg ljZjljBfnoaf6 ;DaGwg k|fKt Email: kanakai.campus47@gmail.com
Affiliated to Tribhuvan University 023-552153

sgsfO{ ax'd'vL SofDk; 023-552853

9852652853

KANAKAI MULTIPLE CAMPUS

sgsfO{ gu/kflnsf–#, ;'?·f, emfkf
r=g+= (Ref. No.) M Kanakai Municipality-3, Surunga, Jhapa
k=;+= (Letter No.) M Accredited by UGC, Nepal (2022 A.D.) ldlt (Date) M

ENDORESEMENT

We hereby endorse the project work report entitled "IMPACT OF CREDIT RISK
ON PROFITABILITY OF NEPAL BANK LIMITED IN NEPAL" Submitted by
Narendra Adhikari of Kanakai Multiple Campus, Kanakai-3, Surunga, Jhapa in
partial fulfillment of the requirements for award of the Bachelor of Business Studies
(BBS 4th year) for external evaluation.

............................................ ............................................
Tika Ram Ghimire Bikash Prasad Uprety
Head of Department Campus Chief
Faculty of Management Date:
Date:

iv
 ACKNOWLEDGEMENT

At first, I would like to offer my sincere gratitude to Kanakai Multiple Campus for
its greatest support to complete my BBS project report and also helping me
throughout my research work. The infrastructures of the campus have played an
eminent role to complete this project in time. My supervisor Mr. Dilli Bahadur
Bhattarai of Kanakai Multiple Campus had assisted me throughout the completion of
this project and therefore I am very much indebted to his contribution. His assistance
for this project work has been preferred to be very proud and I will like to thank from
the core of my heart, there have been considerable helping hands from many other
personalities of the campus.

I am thankful to all known and unknown lecturers for helping me to make my final
work productive on. Campus will always be remembered for their assistance to
provide me necessary documents related to my project work. The annual report
relating to bank has also been very fruitful to complete my study. Similarly, I am
indebted to all my family and relatives for project work support and motivation to
complete this project work in time.

Narendra Adhikari
Researcher

v
 TABLE OF CONTENTS
Contents
TITLE PAGE
DECLARATION ........................................................................................................... ii
SUPERVISOR’S RECOMMENDATION .................................................................... iii
ACKNOWLEDGEMENT ............................................................................................. v
TABLE OF CONTENTS.............................................................................................. vi
LIST OF TABLE........................................................................................................ viii
LIST OF FIGURE ....................................................................................................... ix
ABBREVIATIONS ........................................................................................................ x
CHAPTER 1: INTRODUCTION ................................................................................ 1
1.1 Background of the study .................................................................................... 1
1.2 Profile of Nepal Bank Limited ........................................................................... 2
1.3. Statement of the problems ................................................................................. 3
1.4 Objective of the study ........................................................................................ 3
1.5. Significance of the study ................................................................................... 3
1.6. Literature review ............................................................................................... 4
1.6.1 Conceptual Review ...................................................................................... 4
1.6.2 Review of previous works ........................................................................... 4
1.6.3 Review of journal and articles ..................................................................... 4
1.6.4 Review of Previous Thesis .......................................................................... 6
1.7 Research gap ...................................................................................................... 8
1.8 Research Methodology....................................................................................... 8
1.8.1 Research Design .......................................................................................... 9
1.8.2 Populations and Sample............................................................................... 9
1.8.3 Types and Sources of Data .......................................................................... 9
1.8.4 Data collection ............................................................................................. 9
1.8.5 Data Analysis Tools and Techniques .......................................................... 9
1.9 Limitations of the study.................................................................................... 12
CHAPTER 2: RESULT AND FINDINGS ................................................................ 13
2.1 Presentation of Data in Tables and Figures and Their Analysis ...................... 13
2.1.1 Profitability Ratio. ..................................................................................... 13

vi
 2.1.1.1 Return on Total Assets ........................................................................... 13
2.1.1.2 Return on Equity Ratio ........................................................................... 15
2.1.1.3 Capital Adequacy Ratio .......................................................................... 16
2.1.1.4 Non-performing Loan Ratio ................................................................... 17
2.1.1.5 Loan and Advance to deposit ratio ......................................................... 19
2.1.1.6 Loan Loss Provision to Total Loan ........................................................ 21
2.2 Major Findings ................................................................................................. 23
CHAPTER 3: CONCLUSION SUMMARY AND CONCLUSION ....................... 24
3.1 Summary .......................................................................................................... 24
3.2 Conclusion........................................................................................................ 25
3.3 Implications ...................................................................................................... 26
REFERENCES .......................................................................................................... 27
APPENDIX – I .......................................................................................................... 28

vii
 LIST OF TABLE
Table of content Page No.

Table 1 Return on Total Assets Ratio 14

Table 2 Return on Equity Ratio 15

Table 3 Capital Adequacy Ratio 16

Table 4 Non-Performing Loan Ratio 18

Table 5 Loan and advance to Total Deposit Ratio 19

Table 6 Loan Loss Provision to Total Loan Ratio 21

viii
 LIST OF FIGURE
Content Page No
Figure 1 Return on Total Assets Ratio 14

Figure 2 Return on Equity Ratio 16

Figure 3 Capital Adequacy Ratio 17

Figure 4 Non-Performing Loan Ratio 19

Figure 5 Loan and advance to Total Deposit Ratio 20

Figure 6 Loan Loss Provision to Total Loan Ratio 22

ix
 ABBREVIATIONS
NBL: Nepal Bank Limited
ATM: Automated Teller Machine
AGM: Annual General Meeting
ABBS: Any Branches Banking Service
BLB: Branch less Banking
BAFIA: Bank and Financial Institution Act
CC: Cash Credit
CAR: Capital Adequacy Ratio
CRR: Cash Reserve Ratio
CPI: Consumer Price Index
CS: Common Stock
Excl: Excluding
FY: Fiscal Year
FIs: Financial Institutions
F&D: Fixed Deposit
Incl: Including
NPL: Non-performing Loan
NIM: Net Interest Margin
NBL: Nepal Bank Ltd.
NEPSE: Nepal Stock Exchange
NRB: Nepal Rastra Bank
ROA: Return on Asset
ROE: Return on Equity
LTDR: Loan and Advance to Deposit Ratio
NPLR: Non-Performing Loan Ratio
CAR: Capital Adequacy Ratio
LLPR: Loan Loss Provision Ratio

x
 CHAPTER 1: INTRODUCTION

1.1 Background of the study

Banks today are the largest financial institutions around the world, with branches and
subsidiaries throughout everyone’s life. There are plenty of differentiations between
types of banks. And much of this differentiation rests in the products and services that
banks offer (Howells & Bain, 2008, p.34). For instance, commercial banks hold
deposits, bundling them together as loans, operating payments mechanism, etc.

Credit risk is by far the most significant risk faced by banks. The success of the
business depends on accurate measurement and efficient management of this risk to a
greater extent than any other risk. Credit risk refers to the risk that a borrower may not
repay a loan and that the lender may lose the principal of the loan or the interest
associated with it. Credit risk arises because borrowers expect to use future cash flows
to pay current debts; it's almost never possible to ensure that borrowers will definitely
have the funds to repay their debts. Interest payments from the borrower or issuer of a
debt obligation are a lender's or investor's reward for assuming credit risk. (Psillaki,
Tsolas, and Margaritis, 2010, p.873) Through effective management of credit risk
exposure banks not only support the viability and profitability of their own business but
also contribute to systemic stability and to an efficient allocation of capital in the
economy. Credit risk management is the practice of mitigating losses by understanding
the adequacy of a bank’s capital and loan loss reserves at any given time-a process that
has long been a challenge for financial institution.

Credit risk management has turned out as a vital issue in the current intensely
complicated and competitive business environment. Business and industries are heavily
dependent upon the credit grants from banks. Past studies have confirmed that bank
performance in terms of profitability is directly associated with its credit risk. Favorable
credit risk management leads to positive profits and vice-versa. Credit and market risk
both are vital for maintaining the profitability of banks.

The goal of the credit risk management is to maximize a bank’s risk adjusted rate of
return by maintaining the credit risk exposure within acceptable parameters. Bank is
investing a lot of funds in credit risk management modeling. The default of a small
number of customers may result in a very large loss for the bank. Credit risk is a risk of
borrower default, which happens when the counterpart fails to pay on time. Credit risk
is accessed through analyzing the financial performance of commercial banks in an
attempt to mitigate impacts arising from credit defaults. The financial health of the
commercial banks depends on the possession of good credit risk management
dynamics. Commercial banks may have a keen awareness of the need to identify,

1
 measure, monitor and control credit risk as well as to determine that they hold adequate
capital against these risks and that they are adequately compensated for risks incurred.

The importance of credit risk management to commercial banks cannot be

overemphasized and it forms an integral part of the loan process. Loan and advances
provided to borrowers may be at the risk of default, whereas banks extend the credit on
the understanding that borrowers will repay their loans. Some borrowers usually
default, and as a result, the bank's income decreases due to the need to increase loan
loss provisions for such loans. Where commercial banks do not have an indication of
what proportion of their borrowers will default, earnings will vary thus exposing the
banks to an additional risk of variability of their profits. Effective management of credit
risk can enhance banks' goodwill and depositors' confidence. Thus, good credit risk
policy is an essential condition for banks' performance and capital adequacy protection.

Commercial banks are exposed to high risk loans. The higher is the accumulation of
unpaid loans implying that these loan losses have produced lower returns to many
commercial banks. Most of the Nepalese commercial banks are found to approve the
loans that are not well examined. This may lead to increase the loan defaults and non-
performing loans. Thus, the existing procedures for credit risk management are not
adequate to compete with the existing financial and economic challenges in Nepal.
There is need to investigate whether this investment in credit risk management is viable
to the banks. This study therefore seeks to investigate the impact of credit risk
indicators on a bank's financial performance in Nepal. This study addresses how credit
risk affects banks' financial performance using a robust sample and the findings would
serve as the basis to provide policy measures useful to the various authorities on how to
tackle the effect of credit risk in order to enhance the quality of banks‟ risky assets.

This study addresses how credit risk affects banks’ profitability. The objective of this
study is to understand and explore measures to credit risk management and importantly
the impact of credit risks on banks.

1.2 Profile of Nepal Bank Limited

Nepal Bank Limited (NBL) is one of the oldest and largest commercial banks in Nepal,
established in 1937 AD (1994 BS). It is the first bank in the country to have started its
operations in the formal banking sector. The bank was initially known as Nepal Bank of
India, and it was renamed Nepal Bank Ltd. after the government of Nepal acquired it in
1956. Nepal Bank Limited is a state-owned bank with its head office located in
Dharmapath, Kathmandu. The bank has a network of 300 branches, 53 extension
counters, and 67 ATMs across the country, providing banking and financial services to
a diverse range of customers. The bank provides a wide range of services, including
deposit accounts, loans, remittance services, foreign exchange, and other financial
products. It also offers services to the government and other institutions as well as

2
 individuals, businesses, and industries. Nepal Bank Limited has been playing a crucial
role in the development of the Nepalese economy for over eight decades. It has
contributed significantly to the growth of industries and businesses in the country by
providing financial assistance and advisory services. The bank has also been actively
involved in various social and community development initiatives. Overall, Nepal Bank
Limited is a reliable and trusted financial institution in Nepal, providing quality
banking services to its customers while contributing to the country's economic
development.

1.3. Statement of the problems

Trends of bank expansion, operations and establishment are in apex growth condition in
Nepal. Among other risks credit risk plays an important role on banks’ financial
performance. It is of great interest to study the relationship between credit risk and
profitability of commercial banks. And there is no research that could clearly explain
the relationship of credit risk and profitability of commercial banks in Nepal. In order
to acquire the knowledge of impact of credit risk and profitability of commercial banks,
we made the following research question:
i. What is the relationship between the credit risk and profitability of Nepal
Bank Limited of Nepal?
ii. What is the impact of non-performing loans on the profitability of Nepal
Bank Limited in Nepal?

1.4 Objective of the study

The major objective of this study is to reach the following needs:
i. To determine the impact of non-performing loans on the profitability of
commercial some banks in Nepal.
ii. To analyze credit impact on profitability position through calculation of
ROA, ROE, CAR, NPLR, LTDR and LLPR.
This will help us to go deep into the research area and could lead to further research
topics in the future.

1.5. Significance of the study

The main significant of this study are specified as below:

 The main purpose of this report is partial fulfilment of the requirement

for the Degree of Bachelor in Business Studies (BBS).
 It is significant to the shareholders of the company. The study is helpful
to know the shareholders regarding the financial performance of Nepal
Bank Limited.
 This study will be equally useful to the other readers, students of related
subjects and other people who are concern with banking field.

3
1.6. Literature review
Literature review is a process of finding previously uncovered facts on research topic.
For finding basic information about credit risk and its impact on profitability
of commercial banks in Nepal, which are related to the study had been reviewed. It is
separate into two parts – Theoretical and Research Reviews. The first section
presents the theoretical concept on impact of credit risk and its profitability on
commercial banks and second part review the relevant dissertations and concerned
reports.

1.6.1 Conceptual Review

A conceptual review is a scheme of concepts or variables which the researcher
will operationalize in order to achieve set objectives. It is a pictorial demonstration of
the theory portrayed as a model where researcher shows the link between variables
and renders reveal the relationship between the independent, extraneous and
dependent variables.

Poudel (2012) studied the factors affecting commercial banks performance in Nepal
for the period of 2001-2012 and used a linear regression analysis technique. The study
revealed a significant inverse relationship between commercial bank
performance measures by ROA and credit risk measured by default rate and capital
adequacy ratio. In this study, assumption is that credit risk (non-performing loans, loan
loss provision, loans and advances) has a negative impact on profitability (ROA and
ROE) of a bank.

1.6.2 Review of previous works

Review of previous research helps the researcher to perform the research
work satisfactorily. The main reason of this review is to use the similar concept
investigate by the past researcher in a new way. Various journal, thesis, radicals and
similar topic related articles will be considered to make this research effective. Review
of literature provides the guidelines for this research.

1.6.3 Review of journal and articles

Muhammad et al., (2014) examined the effects of credit risk management on
the profitability of Nigerian banks with the objective to discover the extent to which
default rate (DR), cost per loan asset (CLA), and capital adequacy ratio (CAR)
influence return on asset (ROA) as a measure of banks’ profitability. Descriptive
statistics, correlation, as well as random-effect generalized least square regression
techniques are utilized as tools of analysis in the study. The study revealed that CRM as
measured by three independent variables has a significant positive effect on the
profitability of Nigerian banks. Therefore, the study recommends that banks’
management should be more scientific in their credit risk assessment and management
of loan portfolios in order to minimize the high incidence of non-performing loans and
their negative effect on profitability.
4
Li & Zou (2014) examined the impact of credit risk management on profitability
of commercial banks in Europe from 2007 to 2012. The authors collected data from
the largest 47 commercial banks in Europe and analyzed them using multivariate
regression analysis. The study used capital adequacy ratio and non-performing loan
ratio as proxies for credit risk management, and ROA and ROE as proxies for
profitability. They used Capital Adequacy ratio and Non-performing loan ratio as the
measures of credit risk management. The study revealed that the credit risk
management does not have positive effect on profitability of commercial banks. And
also they found that the relationships between all the proxies are not stable but
fluctuating.

Poudel (2012) examined the impact of credit risk management in financial

performance of commercial banks in Nepal. He had tried to discover various factors
relevant to credit risk management and its influence on the financial performance of the
31 banks in Nepal for the period of 2001-2011. Used default rate, cost per loan assets
and capital adequacy ratio as the measure of Credit risk management and ROA as a
measure of profitability. They used descriptive statistics, correlation and regression to
analyses the data. The findings revealed that all these factors have an inverse impact on
banks’ financial performance, and that default rate is the most significant predictor of
bank financial performance. From the findings, the author recommends for
Nepalese commercial banks to emphasize more on risk management as risk
management, in general, has a significant contribution to bank performance. Further,
the author recommends that in order to reduce risk on loans and achieve maximum
performance, the banks need to allocate more fund to default rate management and try
to maintain an optimum level of capital adequacy.

Isanzu (2017) investigated the impact credit risk on the financial performance
of Chinese banks. Credit creation being the main activity of the bank is inevitable, and
it also exposes the bank to credit risk. By employing panel data regression analysis,
the study aimed to find the impact of credit risk on the financial performance of minor
Chinese banks for eight years. The results revealed that credit risk management has
improved over the past years as prudential techniques have being used to reduce the
negative impact of credit risk on the financial performance of banks. The study
found non-performing loans and capital adequacy as measures of credit risk to have
a significant impact on financial performance. And he suggests that managers should
pay more attention to improving capital adequacy since it positively enhances
financial performance while reducing nonperforming loans by applying modern
strategies and techniques for credit risk management.

Malhotra et al. (2009) examined the influence of credit risk on profitability of

8 commercial banks in India for the period of 2003 to 2014. The data was analyzed
using descriptive statistics and panel data regression. The ratio of non-performing loan

5
 to loan & advances and ratio of loan & advances to total deposit were used as
indicators of credit risk. Return on asset was used as an indicator of financial
performance. The findings of this study show that bank profitability is inversely
influenced by the level of loan and advances, non-performing loan and deposits thus
exposing them to risk of illiquidity and distress. The authors recommend for the
management to be cautious when setting up the credit policy as not to affect
profitability.

Ahmed et al. (1998) examined multi country study of bank credit risk determinants
to know the impact of credit risk on bank’s profitability. Multi-variant regression is
used and discovered that, loan loss, which is the last aspect of non-performing loans has
a strong impact on profitability because, a rise in loan loss suggests an elevation in
credit risk and therefore affecting the bank’s financial standing negatively. The
study revealed that a dominant element of credit risk in commercial banks in loan loss
provision so that any jump in the level of loan loss has a direct relationship with
credit risk. They again stressed on the fact that, credit risk in developing countries
supersedes that of developed economies.

Kargi (2011) estimated the effect of credit risk on the profitability of Nigerian banks.
Financial ratios as measures of bank performance and credit risk were collected
from the annual reports and accounts of sampled banks from 2004-2008 and analyzed
using descriptive, correlation and regression techniques. The findings revealed that
credit risk management has a significant impact on the profitability of Nigerian banks.
It concluded that banks‟ profitability is inversely influenced by the levels of loans
and advances, nonperforming loans and deposits thereby exposing them to great risk of
illiquidity and distress.

1.6.4 Review of Previous Thesis

Shrestha (2008) has studies Comparative credit management of Nepalese
commercial banks. His objective is to analyze sector wise loans and advances, security
wise loans and advances, study of priority and deprived sector loans, evaluation of non
performing loans, issues of profitability, liquidity position. He has used
descriptive statistic method to analyze the data. The result shows that HBL is safe from
the side of liquidity similarly SBI and NBL would in liquidity crunch if heavy demand
is made (withdrawal) from the depositors. Comparatively SBI is aggressively deploying
credit, trend of credit mobilization of HBL is moderate and NBL seems very defensive
for credit mobilization. Comparatively NBL is mobilizing higher deposit to
investment, SBI is moderate condition and HBL is in lower level. Deposit mobilization
on credit of SBI is in higher side, HBL is moderately mobilizing its deposit on credit
and NBL is mobilizing slightly lower credit. Ratio of investment to total loan and
advance is in higher side for NBL than other. Similarly, HBL has moderate ratio and

6
SBI has lower ratio. NBL has higher loan loss provision, SBI and HBL has more or less
same ratio.

Asare (2015) attempts to reveal the relationship between credit risk and profitability
of some selected banks in Ghana. A balanced panel data from seven selected
banks covering the nine-year (2005-2013) was analyzed within the fixed and random
effects techniques. Two key measure of profitability (dependent variable) employed in
the study comprised of Return on Asset (ROA) as model-1 and Return on Equity
(ROE) as model-2. The credit risk measures used in the study included non-performing
loans to total loans, loan loss provisions ratio and loans and advances ratio. In addition,
some internal and external determinants of profitability age were captured in model.

The results showed that, non-performing loans is negatively related to

profitability while loan loss provision ratio and loan and advances ratio are positively
significant to bank’s profitability. Also the researcher discovered that both capital
adequacy and age have a positive relationship with profitability while bank size has an
inverse relationship. All the external factors were statistically insignificant. The
study suggested the need for management of the banks to put in effective measures
in improving the credit risk management strategies to enhance their profitability.

Ojha (2002) examined the comparative risk management of NABIL, SCBL and HBL.
Secondary data was retrieved from sample commercial banks for the period of 8
years from annual reports of these banks. Descriptive statistics and panel data
regression model is used to analyze the data. The study found that the selected
variables: the provision to total loans, loan to total asset, credit administration (cost to
total loans) and size (economics of scale) have significant effect on the performance of
Banks. However, a certain variation in the magnitude and direction of their effect on
the selected profitability measure, Return on Asset. Based on the study it is
recommended that Nepalese banks need to develop their credit risk management
capacity, there should also be control over overhead costs related to lending, and
increasing the loan book size without compromising the sound credit planning should
be a priority task.

Tuladhar (2017) has made an attempt to analyze the impact of credit risk
management on the profitability of Nepalese commercial banks. Her main objective is
to investigate the impact of credit risk management on the profitability of Nepalese
commercial banks. The panel data of a five-year period from the selected banks were
used to examine the relationship between credit risk and performances. Further, a
regression model was used to analyze the data.

She concludes that credit risk management has significant impact on the profitability
of Nepalese commercial banks. Results show that coverage ratio, capital adequacy
ratio, and bank size have a positive impact on bank performance, on the other hand,

7
 leverage ratio, non-performing loan ratio and female board member are found to have a
negative impact on bank performance. However, liquidity ratio, asset quality, and cash
reserve ratio turned out to be not significant variables in determining bank’s
performance.

The study thus recommends an effective credit risk management for commercial banks
of Nepal based that maintains an optimum level of capital adequacy ratio, controls and
monitors non-performing loan, enhances coverage ratio, balances leverage ratio,
motivates female board members and increases bank size to enhance financial
performance.

1.7 Research gap

There are various factors that affect the lending practices. The directives of
NRB change over time and commercial bank should adopt their policy with the
changing time. So, up-to-date study over the change of time frame is major concern for
the researcher and concerned organization as well as whole. This study covers the
more recent financial data, NRB circulars and guidelines than that of studies
previously conducted.

The study previously conducted so far do not consider the variables like
Capital Adequacy, Non-performing Loan, Loan Loss Provision and Loan and Advance
to Deposit in relation to performance of the banks which however are done well in
this study. The research fills the variable gaps and it is further believed that such a
study with recognition of these variables would contribute to policy making and devise
risk mitigating mechanisms.
It is major concern of shareholders to know portfolio behavior of the bank; this
study puts its effort to find out factors that are related with investment of the banks.
Analysis of lending efficiency shows the sufficiency of the bank. No case study has yet
been conducted about credit management of Nepal Bank Limited. This study tries to
show how bank stands in terms of investment policy with leading commercial banks.
Hence, this study fulfills prevailing research gap about the in-depth analysis of lending
efficiency, investment in priority and deprived sector by the banks.

1.8 Research Methodology

This study investigates the impact of credit risk on profitability of commercial banks
in Nepal. It helps to fulfill the stated objective as well as it tries to make easier to
visualize the study clearly. Therefore, this chapter presents the suitable methodologies
to achieve the set of objectives of the study. For this, it consists of the research deign,
population and sample, sources of data, data collection and processing procedure, and
data analysis technique and tools used in this study.

8
1.8.1 Research Design
This aspect describes the nature of the pattern the research intends to follow. This is the
overall plan or strategy for conducting the research. The primary purpose of the study is
to explore the relationship between credit risk and the profitability of Nepal Bank
Limited in Nepal. This study has applied descriptive and causal comparative research
design. This study describes about the credit risk management and its impact on bank's
profitability. To achieve the research objective, this study uses different financial and
statistical tools. It helps to derive conclusions about the impact of credit risk on the
profitability.

1.8.2 Populations and Sample

A sample is a collection of items or elements from a population or universe. Hence, a
sample is only a portion or subset of the universe or population. It comprises
some observations selected from the population. Population or universe refers to the
entire group of people, events, or things of interest that the researcher wishes to
investigate.

Among 21 commercial banks operating in the country “Nepal Bank Limited” is

selected by using random sampling method.

1.8.3 Types and Sources of Data

This study is based on secondary data obtained from published statements of
accounts of the Nepal Bank Limited in Nepal. Therefore, relevant financial and
operational data for sample the banks are collected based on their annual reports and
their websites for the period of 2012/13 to 2021/22. All the information is collect from
these secondary sources.

1.8.4 Data collection

This study utilizes secondary data collection from the bank’s website and
published annual reports of Nepal Bank Limited. Relevant tools are used to find out the
best appropriate outcomes as per designed objectives of the study. Since the objective
of the study is to determine whether credit risk has significantly affect the profitability
of banks in Nepal with regard to the returns on assets (ROA) and returns on equity
(ROE).

1.8.5 Data Analysis Tools and Techniques

This study is based on secondary data collection from the bank’s website and
published annual reports of sampling banks. Relevant tools are used to find out the
best appropriate outcomes as per designed objectives of the study. Since the objective
of the study is to determine whether the credit risk has significantly affect the
profitability performance of banks in Nepal with regards to the return on assets (ROA)
and return on equity (ROE), the present research used mix of following tools in the

9
analysis. Different quantitative methods of statistical tools have been used for driving
essence of the research data and interpret them in meaningful way.

With the secondary data collection, return on equity and return on assets for
relevant years has computed.

Financial tools
A powerful and most widely used tool of financial tools is ratio analysis. Ratios can be
calculated between any two items of financial statements. A financial ratio is
the relationship between two accounting figures, expressed mathematically or the
term ratio refers to the numerical or quantitative relationship between two
items/variables. Ratio helps to summarize the large quantities of financial data to make
qualitative judgments so ratio is regarded as the best indicator to any business to know
the performance. There are numerous ratios to analyze and interpret the
financial performance of the enterprise or firm. However, for our purpose, only
important and relevant ratios are evaluated. Some of the important ratios for evaluating
the company’s performance are:

(i) Return on Assets (ROA)

This defines the proportion of net operating profit that an organization obtains from
the operations of business in a specified time period to the volume of the business’s total asset,
it can be calculated as:
𝑁𝑒𝑡 𝑃𝑟𝑜𝑓𝑖𝑡
Return on Total Assets Ratio =
𝑇𝑜𝑡𝑎𝑙 𝐴𝑠𝑠𝑒𝑡𝑠

(ii) Return on Equity (ROE)

Return on equity (ROE) is the amount of net income returned as a percentage of shareholder’s
equity. Return on equity measures a corporation’s profitability by revealing how much profit a
company generates with the money shareholders have invested. It can be calculated as:
𝑁𝑒𝑡 𝑃𝑟𝑜𝑓𝑖𝑡
Return on Equity = 𝑇𝑜𝑡𝑎𝑙 𝐸𝑞𝑢𝑖𝑡𝑦 𝐶𝑎𝑝𝑖𝑡𝑎𝑙

(iii) Capital Adequacy Ratio (CAR)

This is the index supervisory experts employ to define the maximum volume of
funds that the bank is required to be capable of taking some heights of danger
imperiling credit funds. It can be calculated as:

𝑇𝑜𝑡𝑎𝑙 𝐶𝑎𝑝𝑖𝑡𝑎𝑙
CAR = 𝑅𝑖𝑠𝑘 𝑊𝑒𝑖𝑔 𝑕𝑡𝑒𝑑 𝐴𝑠𝑠𝑒𝑡𝑠

10
(iv) Non-performing Loans ratio (NPLR)
This defines the loans that the bank perceives as likely losses of monies owing to credit
nonpayment. It can be calculated as:
𝑁𝑜𝑛 𝑃𝑒𝑟𝑓𝑜𝑟𝑚𝑖𝑛𝑔 𝐴𝑠𝑠𝑒𝑡𝑠
NPLR = 𝑇𝑜𝑡𝑎𝑙 𝐿𝑜𝑎𝑛𝑠

(v) Loans and Advances to deposit ratio (LTDR)

This is a facility given out to the clients of bank that permits the clients to employ the
bank’s monies that is required to be repaid at an agreed time frame with interest. It can be
calculated as:
𝐿𝑜𝑎𝑛 𝑎𝑛𝑑 𝐴𝑑𝑣𝑎𝑛𝑐𝑒
LTDR = 𝑇𝑜𝑡𝑎𝑙 𝐷𝑒𝑝𝑜𝑠𝑖𝑡

(vi) Loan loss provision ratio (LLPR)

This defines the volume of funds that bank’s put aside from its yearly incomes as an
insurance against likely loss of a non performing loan, or to equal a lost loan facility. It
can be calculated as:
𝐿𝑜𝑎𝑛 𝑙𝑜𝑠𝑠
LLPR = 𝑇𝑜𝑡𝑎𝑙 𝐿𝑜𝑎𝑛𝑠

Statistical Tools:
In order to achieve the objective statistical tools proves to be very important technique.
It analyzes the relationship between two variables. In this research following statistical
tools are used to analyze the data collected.

Arithmetic Mean:
The sum of all observations divided by the total number of observations is known as the
arithmetic mean or simply mean. It is simply a single value, which is expected to lie
around controlling the position of the mass of the data.

𝑆𝑢𝑚 𝑜𝑓 𝑂𝑏𝑠𝑒𝑟𝑣𝑎𝑡𝑖𝑛𝑠 x
Arithmetic Mean= Or, x= 𝑁
𝑁𝑢𝑚𝑏𝑒𝑟 𝑜𝑠 𝑉𝑎𝑙𝑢𝑒
Standard Deviation:
Standard deviation is an absolute measure of dispersion. The standard deviation is
the square root of mean squared deviation from the arithmetic mean. It can be
calculated by using the following formula:

x−x 2
s= 𝑁

11
1.9 Limitations of the study

Every study has its own limitation. All the data may not be available due to
business secrecy. Its limitation is as follows:
i. This study will be concentrated only on few performance related factors
that are related with credit practices.
ii. Through there has been in operation of 21 Commercial Banks in Nepal, but
only NBL bank has been selected as sample.
iii. Whole study is based on data of ten year period.
iv. Some of the financial tools of comparison shall be used in this study.
Hence the drawbacks and weakness of those tools may adversely affect the
outcomes of the study.
v. The source of data will be published annual report and internet website
which is assumed to be correct.

12
 CHAPTER 2: RESULT AND FINDINGS
Data presentation and analysis forms an integral part of all academic studies,
commercial, industrial and marketing activities as well as professional practices. Data
analysis helps in the interpretation of data and takes a decision or answer the research
question.

2.1 Presentation of Data in Tables and Figures and Their Analysis

This chapter deals with the presentation and analysis of relevant and available data of
Nepal Bank Limited of Nepal in order to fulfill the objective of this study. The data
have been analyzed according to the research methodology as prescribed in chapter one
to gain the best result.

Financial tools
This study is done to analyze the financial performance of NBL. By calculation and
interpretation of various financial ratios which are as follows:

2.1.1 Profitability Ratio.

Profitability (i.e. ROA and ROE) positions have been analyzed using statistical as well
as financial tools with past 10-year data of NBL. This study examines the profitability
position of Nepal Bank Limited by analyzing return on total assets (ROA) and return on
equity (ROE).

2.1.1.1 Return on Total Assets

Return on assets is a financial ratio that shows the percentage of profit that a company
earns in relation to its overall resources (total assets). Profitability can be measured in
terms of relationship between net profit and total assets. ROA of any banks
indicates that how management is effectively utilizing the company’s assets to generate
profit.

13
 Table 1
Return on Total Assets
(In Percentage)
Fiscal Year ROA (%)

2012/13 2.32

2013/14 2.55
2014/15 2.38
2015/16 2.43

2016/17 2.80
2017/18 3.25
2018/19 2.65
2019/20 2.06
2020/21 2.32
2021/22 2.70
Average 2.55
S.D 0.33
CV 0.13
Source: Appendix 1
Table 1 presents the return on assets ratio of NBL. The highest ROA of Nepal Bank
Limited is 2.80% in fiscal year 2017/18. The lowest ratio of NBL is 2.06% in year
2019/20. NBL has ROA which indicate the satisfactory efficiency. The S.D and C.V. of
NBL is 0.33 and 0.13 respectively. It shows NBL has greater variability in ratios; The
above ROA is present in Figure 1.
3.5
3.25
3
2.8 2.65 2.7
2.5 2.55 2.43
2.32 2.38 2.32
2 2.06
1.5
1
0.5
0

Figure 1: Return on Total Assets

14
2.1.1.2 Return on Equity Ratio
The return on equity ratio which is also known as the return on net worth is used
by investors to determine the amount of return they are receiving from their capital
investment in a company. Companies can increase their return on equity percentage
by buying back their stock, increasing earnings, or using more debt to fund operations.

Table 2
Return on Equity Ratio
(In Percentage)
Fiscal Year ROE (%)

2012/13 29.35
2013/14 33.93
2014/15 30.27
2015/16 29.02
2016/17 30.25
2017/18 32.25
2018/19 27.91
2019/20 22.73
2020/21 25.61
2021/22 25.61
Average 28.69
S.D 3.34
CV 0.12
Source: Appendix 1

Table 2 presents return on equity ratio of NBL. The highest ROE of NBL is 33.93% in
fiscal year 2013/14 and the lowest ratio of NBL is 22.73% in year 2019/20. The ROE
of NBL in the latest year which indicate that these bank are less efficient in using its
shareholders’ equity to generate profit. The average mean ratio of NBL is 28.69%
respectively. NBL has ROE which indicate the better efficiency. The S.D and C.V. of
NBL are 3.34 and 0.12 respectively. It shows NBL has greater variability in the ratios,
and NBL has consistency in the above ratios. The above ROE is present in Figure 2.

15
 40
35 33.93
32.25
30 29.35 30.27 29.02 30.25
27.91
25 25.61 25.61
22.73
20
15
10
5
0

Source: Table 2

Figure 2: Return on Equity Ratio

2.1.1.3 Capital Adequacy Ratio

Capital adequacy ratio is a measure of a bank’s capital. It is expressed as a percentage
of a bank’s risk weighted credit exposures. This ratio is used to protect depositors and
promote the stability and efficiency of financial systems around the world.
Table 3
Capital Adequacy Ratio
(In Percentage)
Fiscal Year CAR (%)

2012/13 10.1

2013/14 10.7

2014/15 10.5

2015/16 10.58

2016/17 11.01

2017/18 11.59

2018/19 11.18

2019/20 11.57

2020/21 11.72

2021/22 11.73

Average 11.07

S.D 0.58

CV 0.05
Source: Appendix 1

16
 Table 3 presents capital adequacy ratio of NBL. It shows NBL is in increasing trend in
fiscal year 2019/20 to 2021/22. It shows that NBL is in increasing trend in the fiscal
year from 2019/20 to 2021/22. The highest CAR of NBL is 11.73% in fiscal year
2021/22 and the lowest ratio of NBL is 10.1% in year 2012/13. The average mean ratio
of NBL is 11.07%. NBL has lowest CAR which indicates that bank have fewer
cushions to absorb a reasonable amount of losses. The S.D and C.V. of NBL is 0.58 and
0.05 respectively. The above capital adequacy ratio is present in Figure 3.

12
11.72 11.73
11.5 11.59 11.57
11.18
11 11.01
10.7
10.5 10.5 10.58

10 10.1

9.5

Source: Table 3
Figure 3: Capital Adequacy Ratio

2.1.1.4 Non-performing Loan Ratio

Non-performing Loan ratio determines the proportion of non-performing assets in

the total loan and advances portfolio. As per NRB directives the loan falling under
category of substandard, doubtful and loss are regarded as non-performing assets or
loan. The higher ratio implies the bad quality of loan or assets of banks in the form of
loan and advances whereas lower ratio implies the better quality of assets of banks in
the form of loan and advances. Hence, lower ratio is preferable as per international
standard only 5% NPLs is allowed but in the case of Nepal, maximum 10% NPLs is
acceptable.

17
 Table 4
Non-Performing Loan Ratio
(In Percentage)
Fiscal Year NPLR (%)

2012/13 0.74

2013/14 0.8

2014/15 1.48

2015/16 1.77

2016/17 2.33

2017/18 2.13

2018/19 2.23

2019/20 1.82

2020/21 1.14

2021/22 0.79

Average 1.52

S.D 0.62

CV 0.41
Source: Appendix 1
Table 4 presents non-performing loan ratio of NBL. It shows the non-performing loan
ratio of NBL is in decreasing trends in fiscal year 2018/19 to 2021/22 respectively. It
shows that the non-performing loan ratio of NBL is in fluctuating trends. The highest
NBL is 2.33% in fiscal year 2016/17 and the lowest ratio of NBL is 0.74% in year
2012/13. The average mean ratio of NBL is 1.52%. The S.D and C.V. of NBL are 0.62
0.41 respectively. It shows NBL has consistency in the above ratios. The above non-
performing loan ratio is presented in Figure 4.

18
 2.5 2.33
2.13 2.23
2 1.82
1.77
1.5 1.47
1 1.14
0.74 0.8 0.79
0.5
0

Source: Table 4
Figure 4: Non-Performing Ratio
2.1.1.5 Loan and Advance to deposit ratio
The loan and advances to total deposit ratio is also known as credit deposit ratio
(CD ratio). This ratio actually measures the extent to which the banks are successful
to mobilize the total deposit on loan & advances for the purpose of profit generation. It
is the proportion between the total loan and advance and the total deposit in the banks.
It can be calculated by dividing the total loan and advances by the total deposit
amount. This ratio shows how successfully the banks are utilizing their deposited funds
for profit generating purpose as loans and advances yield high rate of return.
Table 5
Loan and advance to deposit ratio
(In Percentage)
Fiscal Year LAR (%)

2012/13 68.18

2013/14 73.87

2014/15 71.17

2015/16 78.29

2016/17 77.91

2017/18 74.9

2018/19 74.55

2019/20 64.43

2020/21 70.49

2021/22 65.38

Average 71.917

S.D 4.85

CV 0.07
Source: Appendix 1

19
Table 5 and figure presents loan and advance to deposit ratio of Nepal Bank Limited.
The above table shows that the loan & advances to total deposit ratio of NBL is in
fluctuating trends in fiscal year 2019/20 to 2021/22. The highest LAR of NBL is
78.29% in fiscal year 2015/16. The lowest ratio of NBL is 64.43% in year 2019/20. The
average mean ratio of NBL is 71.92% respectively. The S.D and CV of Nepal Bank
Limited are 4.85 and 0.07 respectively.

The above loan and advances to total Deposit ratio is presented in figure below: Figure
5.

90
80 78.29 77.91
73.87 74.9 74.55
70 71.17 70.49
68.18
64.43 65.38
60
50
40
30
20
10
0

Source: Table 5
Figure 5: Loan and Advances to Total Deposit Ratio

20
2.1.1.6 Loan Loss Provision to Total Loan
The provision for loan loss reflects the increasing profitability of non-performing loan.
Increase in loan loss provision decrease profit which results to decrease in dividend.
But its positive impact is that it strengthens the financial condition of banks
by controlling the credit risk and reduces the risk related to deposit.

Table 6
Loan Loss Provision to Total Loan
(In Percentage)
Fiscal Year LLPL (%)

2012/13 1.81
2013/14 1.46
2014/15 2.31
2015/16 2.34
2016/17 2.94
2017/18 2.68
2018/19 2.69
2019/20 2.47
2020/21 2.09
2021/22 1.76
Average 2.26
S.D 0.47
CV 0.21
Source: Appendix 1
Table 6 presents loan loss provision ratio of NBL. The highest LLPR of NBL is 2.94%
in fiscal year 2016/17. The lowest ratio of NBL is 1.46% in year 2013/14. The average
mean ratio of NBL is 2.26% respectively. The S.D and C.V. of NBL are 0.47 and 0.21
respectively.

21
The above loan loss provision ratio is presented in figure below:
3.5

3 2.94
2.68 2.69
2.5 2.47
2.31 2.34
2 2.09
1.81 1.76
1.5 1.46

0.5

Source: Table 6
Figure 6: Loan Loss Provision to Total Loan Ratio

22
2.2 Major Findings

i. The Return on assets of NBL bank has highest ratio is 3.25% in FY 2017/18 and
lowest ratio is 2.06% in FY 2019/20. The average ratio of ROA is 2.55%,
standard Deviation (S.D.) is 0.33% and coefficient of variation (C.V) is 0.13%
respectively. This means that profitability position is little more consistent.
ii. The Return on equity of NBL has highest ratio is 33.93% in FY 2013/14 and
lowest ratio is 22.73% in FY 2019/20. The average ratio is 28.69%, SD is 3.34%
and CV is 0.01. NBL is better in profitability position in terms of low variation.
Therefore, the liquidity performance of NBL is better in terms of ROE.
iii. The capital adequacy ratio of NBL 11.07% in FY 2021/22 and 10.01 in FY
2012/13 i.e. CAR is highest in FY 2021/22 and Lowest in FY 2012/13. The
average ratio is 11.07, S.D and C.V. of NBL 0.58 and 0.05 respectively. It shows
NBL has consistency in the above ratios.
iv. NPL is the one of the main causes that decreases the profit and in consequence
will have to be allocated for provisioning. This may result in bank failure. The
NPL ratio highest is 2.33 in FY 2016/17 and lowest in 0.74 in FY 2012/13. The
average non-performing loan ratio of NBL 1.52%. The S.D and C.V. of NBL is
0.62 and 0.41respectively. It shows NBL has less consistency in the above ratios.
v. The loan and advance to deposit ratio is highest 78.29% in FY 2015/16 and
lowest is 64.43% in FY 2019/20 of NBL respectively. The average ratio, S.D and
C.V. of NBL is 71.91%, 4.85% and 0.07% respectively. The lowest CV of NBL
reveals that it has more consistency in this ratio during the study period.
vi. The average loan loss provision ratio of NBL is 26%. The S.D and C.V. of NBL
is 0.47 and 20.80 respectively. It shows NBL has more consistency in the above
ratios.

23
CHAPTER 3: CONCLUSION SUMMARY AND CONCLUSION
3.1 Summary
The role of banks in the economic development and growth of a country cannot be
undermined. They engage in financial intermediation where funds are taken from the
surplus units and made available to the deficit units. This role exposes them to various
types of risks and the most popular and well-spoken of is credit risk. This is an assumed
risk that a borrower will not pay back the lender as agreed. It is therefore essential to
identify the extent to which this risk influences the profitability of commercial banks in
Nepal.

The purpose of this research work is to identify the position of profitability (i.e. ROA
and ROE), capital adequacy ratio, non-performing loan ratio, loan and advance to
deposit ratio, loan loss provision and also to identify prevailing relationship between
Credit risk and Profitability of Nepal Bank Limited in Nepal. The two key measures of
profitability which include Return in assets (ROA) and Return on equity (ROE) were
used as the dependent variables for this study. The explanatory variables employed in
the two models that measures for credit risk. This included Capital adequacy ratio, non-
performing loans ratio, ratio loans and advances to deposit ratio and loan loss provision.
In this study, we also examine effect of capital adequacy ratio on the financial
performance of Nepal Bank Limited in Nepal, examine the effects on non-performing
loan ratio on the financial performance of Nepal Bank Limited in Nepal, determine the
influence of loan loss provision ratio on financial performance of banks and effects of
loan and advance to deposit ratio on financial performance of NBL.

In this study, randomly sampling method was adopted by utilizing data collected from
NBL. The impact of credit risk on the performance of NBL was analyzed by using
panel data that have adopted credit risk of 10 years. During the research study,
secondary data were used for the collection of required data as per requirement of the
study. Therefore, relevant financial and operational data for the NBL is collected based
on their annual reports and their websites for 10 years’ period. All the information is
collected from these secondary sources.

24
3.2 Conclusion
The analysis of bank profitability revealed that NBL has the highest average ROA.
ROA Coefficient of variation (C.V.) of 0.13%. This means that profitability position is
more consistent in NBL. So, NBL is better in profitability position in terms of low
variation.

Similarly, NBL is better in profitability position in terms of ROE as NBL has highest
average ROE and lowest coefficient of variation (C.V.). This means that profitability
position is more consistent in NBL. So, NBL is better in profitability position in terms
of low variation.
NBL has average CAR (i.e. 11.07%) which indicates that bank have less cushion to
absorb a reasonable amount of losses.
Similarly, Non-performing loan average ratio of NBL is 1.52% which indicates good
quality of loan and advances. Therefore, NBL is better in profitability position. NBL
has mobilized its total deposit as loan and advances effectively.

Again, NBL has the average ratio LLPR is 2.26% which indicates less risky assets in
total volume of loan and advances.

From the findings, Capital adequacy ratio has a positive impact on profitability
measured by ROA and ROE because of increase in the capital requirement of the
banking industry. This means there is enough capital to withstand any losses from loan
default and other banking failures.

From the findings, loan loss provision had a positive influence on profitability because
it serves as a financial backup for the banks to absorb losses. This means the presence
of LLPR acts as a shield that protects the banks’ profit from any unexpected credit
default.

Yet our results suffer from lack of data. We believe that the field is going to benefit for
further research on the topic to confirm the findings. This can be achieved through
effective and appropriate recommendations that are made in the subsequent section.

25
3.3 Implications
The development of good quality institution such as law and order, efficient
bureaucracy, and democratic accountability are crucial to accelerate the financial
institutions and commercial banks in Nepal. Many of the other variables can be used
such as liquidity maintenance and loan management etc. In order to take full advantage
of the commercial banks transactions and investment with it the number of listed
companies is increasing every year but the increase is not proportionate among the
various sectors. The managers can evaluate the deposit mobilization and take benefit by
identifying the beneficial source of investment so that deposit could be effectively
utilized. Therefore, the government has to bring new policy to attract more
manufacturing, processing, trading companies to come in public and to establish the
transaction with Nepalese Commercial banks.

26
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Optimize Banks’ Profitability: A Survey of Selected Banks in Lagos State,
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Asare Opoku (2015). The impact of credit risk on profitability of some selected banks
in Ghana. The Department of Accounting and Finance, Kwame Nkrumah
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Bharath, S. T. and Shumway, T. (2008). cit. in Matoussi, H (2010). “Credit–risk

evaluation of a Tunisian commercial bank: logistic regression vs neural
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92 –119.

Bhattarai, Y.R. (2014), Effect of Credit Risk on the Performance of Nepalese

Commercial Banks. Journal of management and Finance,3(28), 41-64.

Boahene, S. H., Dasah, J. and Agyei, S. K. (2012). Credit risk and profitability of
selected banks in Ghana. Research Journal of Finance and Accounting. 3(7),
6-14.

Chaudary, A.K. & Sharma P.K (2014). Statistical Methods. 11th edition. Kathmandu:
Kanal Publication Pvt. Ltd.

Dahal, B. and Dahal, S. (2002), A Handbook to Banking, Kathmandu: Ashmita Books

and Stationery.

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Annual Report:
Annual report of Nepal Bank Limited 2012/13-2021/22
Websites:

https://www.nepalbank.com.np

https://www.yourarticlelibrary.com

https://www.investopedis.com

27
 APPENDIX – I
PROFITABILITY AND ITS INDICATORS NBL

Year ROE ROA CAR NPLR LTDR LLPR

2012/13 29.35 2.32 10.10 0.74 68.18 1.81

2013/14 33.93 2.55 10.70 0.80 73.87 1.46

2014/15 30.27 2.38 10.50 1.48 71.17 2.31

2015/16 29.02 2.43 10.58 1.77 78.29 2.34

2016/17 30.25 2.80 11.01 2.33 77.91 2.94

2017/18 32.25 3.25 11.59 2.13 74.90 2.68

2018/19 27.91 2.65 11.18 2.23 74.55 2.69

2019/20 22.73 2.06 11.57 1.82 64.43 2.47

2020/21 25.61 2.32 11.72 1.14 70.49 2.09

2021/22 25.61 2.70 11.73 0.79 65.38 1.76

28