BFIs break record with over Rs 5.4 trillion in deposits

KATHMANDU: The amount of deposits gathered by the nation’s banks and financial institutions (BFIs) has surpassed Rs 5.4 trillion.

By Sunday, April 2, 2023, deposits received by BFIs had surpassed all previous records, according to Nepal Rastra Bank (NRB).

A total of Rs 5.413 trillion in deposits were held by BFIs in the nation as of March 15.

The BFIs received 5.426 trillion rupees in deposits, but only 4.819 trillion rupees in loans overall.

Commercial banks have amassed deposits totaling Rs 4.786 trillion, according to the NRB.

Commercial banks received Rs 4.786 trillion in deposits during that time period and disbursed Rs 4.275 trillion in loans.

The credit to deposit ratio (CD ratio) in the banking system is 85.151% as a result of the increase in deposits.

The central bank has stated that the CD ratio shouldn’t be higher than 90%. The current interbank interest rate is also 7.02 percent.