First Business News Portal in English from Nepal
KATHMANDU: Growth rate of deposit mobilisation of the banks and financial institutions has decreased during the first seven months of the current fiscal year.
The deposits collection of BFIs has increased by 3.6 per cent in the review period compared to an increase of 9.8 per cent in the corresponding period of the previous year. On y-o-y basis, deposits at BFIs expanded by 14.6 per cent in mid-February 2022.
The share of demand, saving, and fixed deposits in total deposits stands at 8.3 per cent, 30.1 per cent and 54.6 per cent respectively in mid-February 2022, according to a macroeconomic and financial report of Nepal Rastra Bank (NRB).
Such share was 8.2 per cent, 33.9 per cent and 48.9 per cent respectively a year ago.
The share of institutional deposits in total deposit of BFIs stands at 38.8 per cent in mid-February 2022. Such a share was 42.0 per cent in mid-February 2021.
Private sector credit from BFIs increased by 12.3 per cent in the review period compared to an increase of 14.1 per cent in the corresponding period of previous year. On y-o-y basis, credit to the private sector from BFIs increased by 25.3 per cent in mid-February 2022.
In the review period, private sector credit from commercial banks, development banks and finance companies increased by 12.1 per cent, 12.8 per cent and 22.7 per cent respectively.
Out of the total outstanding credit of the BFIs, 66.8 per cent is against the collateral of land and building and 12.7 per cent against the collateral of current assets (such as agricultural and non-agricultural products) during the first seven months of the current fiscal year.
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