Robust Growth in Banking Sector of Madhesh Province: Deposits Surge by 13.25%, Loans Up by 4.68%

The banking and financial landscape in Madhesh province is experiencing significant growth, as indicated by a 13.25% increase in total deposits and a 4.68% rise in loans, according to the annual report on regional economic activity by the Nepal Rastra Bank for the fiscal year 2079/80.

The report reveals that total deposits amassed by banks and financial institutions in Madhesh province have reached Rs. 2 kharba 96 arba 50 crore, marking a noteworthy 13.25% upturn from the previous fiscal year. In comparison, the corresponding period in the previous year saw a 5.35% increase, totaling Rs. 2 kharba 61 arba 81 crore.

During the fiscal year under review, loans extended by banks and financial institutions in Madhesh province showed a 4.68% growth, reaching Rs. 4 kharba 50 arba 21 crores. In the same period of the preceding year, the growth in loans was more substantial, at 16.70%, amounting to Rs. 4 kharba, 30 arba, and 9 crore.

The total number of branches of banks and financial institutions, including microfinance, licensed by Nepal Rastra Bank in Madhesh Province during the year under review is reported at 1,745. This signifies an increase from the 1,607 branches operating in the province during the same period last year.