BFIs add 1,030 new branches

KATHMANDU: Banks and financial institutions (BFIs) have established 1,030 new branch offices across the country in 11 months of the last fiscal year 2019-20 taking the number of branches of BFIs to 9,716, as per Nepal Rastra Bank.
As of mid-June, 2019, there were a total of 8,686 branches of banks and financial institutions across the country.
Bankers have said that banks were expanding their network through new branches in a bid to boost their businesses as well as to support the government’s ‘call’ to ensure the availability of at least one bank at all the 753 local levels.