First Business News Portal in English from Nepal
KATHMANDU: Seventeen Development Banks have recorded an average spread rate of 4.22 percent in the second quarter of the current fiscal year.
As per the financial statements of the second quarter of the current fiscal year (FY 2078/79) released by the development banks, the spread rate has decreased by 1.15 percentage points as compared to the corresponding period of the previous fiscal year (FY 2077/78). The average spread rate was 5.37 percent during the corresponding period of last year.
There are 16 development banks listed in the Nepal Stock Exchange (NEPSE). Salpa Development Bank is not listed in NEPSE. The spread rates of Narayani Development and Salpa Development Bank have increased compared to the second quarter of last year. During the review period, the spread rate of Narayani Development Bank has increased by 2.32 percentage points and stood at 3.88 percent. The bank’s spread rate was 1.56 percent in the second quarter of last year.
The spread rate of Salpa Development Bank, which is not listed in NEPSE, has increased by 0.16 percentage points in the current fiscal year as compared to the second quarter of last fiscal year. The spread rate of the bank was 4.73 percent in the second quarter of last fiscal year which is now 4.89 percent.
Sindhu Development Bank has the highest spread rate. The bank’s spread rate stood at 5.22 percent in the second quarter of the current fiscal year. In the second quarter of the last fiscal year, the spread rate of the bank was 6.37 percent.
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