KATHMANDU, July 20: Amid the existing threat of the coronavirus, Nepal’s commercial banks increased their businesses by 28.07 percent last fiscal year through issuing additional loans of Rs 815.44 billion to their customers during mid-July 2020 and mid-July 2021.
With the new loans in place, the lending portfolio of the country’s 27 commercial banks has reached Rs 3.72 trillion as of the last fiscal year end, according to Nepal Bankers’ Association. Despite a massive fall in economic activities due to the impacts of lockdown and the coronavirus in the period, the banks enjoyed a notable rise in their businesses mainly with an expanding digitization of the economy, said the bankers.
Likewise, the deposits collection by the commercial banks crossed Rs 4.20 trillion as of mid-July 2021. Last year alone, the banks collected an additional fund of Rs 711.41 billion in deposits.
NIC Asia Bank topped in terms of both deposits collection and lending. Last year, the bank generated additional deposits of Rs 89.41 billion and issued Rs 91.10 billion more loans to its customers. Currently, the deposit collection of the bank stands at Rs 300.25 billion while the loan amount is Rs 264.84 billion.