Madhesh Province’s Financial Sector Witnesses Robust Growth: 13.25% Surge in Deposits and 4.68% Rise in Loans


The financial sector in Madhesh province is undergoing a notable expansion, as evidenced by the annual report on regional economic activity presented by the Nepal Rastra Bank for the fiscal year 2079/80. The report discloses a substantial 13.25% surge in total deposits and a 4.68% increase in loans, reflecting a positive trend in the banking landscape.

According to the report, banks and financial institutions in Madhesh province have witnessed a significant rise in total deposits, reaching Rs. 2 kharba 96 arba 50 crore. This marks a noteworthy increase of 13.25% compared to the previous fiscal year. In contrast, the corresponding period in the preceding year saw a 5.35% growth, amounting to Rs. 2 kharba 61 arba 81 crore.

The fiscal year’s review also indicates a 4.68% growth in loans extended by banks and financial institutions in Madhesh province, totaling Rs. 4 kharba 50 arba 21 crores. Although this represents a positive trajectory, the growth in loans during the same period of the previous year was more substantial at 16.70%, totaling Rs. 4 kharba, 30 arba, and 9 crore.

Furthermore, the report highlights an increase in the total number of branches of banks and financial institutions, including microfinance entities, licensed by Nepal Rastra Bank in Madhesh Province. The current count stands at 1,745 branches during the year under review, reflecting growth from the 1,607 branches that were operational in the province during the corresponding period in the previous year.

Highlights:

Leave a Reply

Your email address will not be published. Required fields are marked *

More Interesting Read

Analysis of Import and Export Trends in the First Nine Months of Fiscal Year 2080/81 1
Business | Market | Economy

Analysis of Import and Export Trends in the First Nine Months of Fiscal Year 2080/81

Nepal’s trade dynamics in the initial nine months of fiscal year 2080/81 reveal alarming patterns, raising concerns about the nation’s economic outlook. The trade deficit, representing the variance between imports and exports, has expanded by approximately 2.75 percent during this period, indicating a growing disparity between import costs and export values, posing significant challenges to Nepal’s economic stability. Imports Imports in the first nine months of the fiscal year witnessed a noticeable decline of around 2.84 percent, totaling approximately Rs. 11.67 Kharba. In comparison, the corresponding period in the previous year saw imports amounting to goods worth Rs. 12.01 Kharba. […]

Read More
Nepali Banks' Interest Rate Review: Baisakh 2081 Update 3
Business | Market | Economy

Nepali Banks’ Interest Rate Review: Baisakh 2081 Update

In the most recent financial update, twenty commercial banks have announced revisions to their interest rates for the month of Baisakh. Interestingly, a majority of these banks, totaling 13, have opted to decrease their interest rates. However, notable exceptions to this trend include NMB Bank (NMB) and Everest Bank (EBL), which have instead chosen to […]

Read More
Garima Bikas Bank Welcomes Nepali New Year 2081 with Exciting Cashback Scheme 5
Business | Market | Economy

Garima Bikas Bank Welcomes Nepali New Year 2081 with Exciting Cashback Scheme

As Nepal eagerly awaits the arrival of New Year 2081, Garima Bikas Bank Limited (GBBL) delights its customers with a special cashback scheme, promising enticing rewards for debit and credit card users. With the aim of promoting cashless transactions and enhancing customer satisfaction, GBBL introduces a generous cashback offer of 20.81%, allowing users to earn […]

Read More