KATHMANDU, Jan 22: Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari has advised the Agricultural Development Bank that it increased investment in the agricultural sector and focused on import replacement.
In his address to the 57th anniversary of the Agricultural Development Bank here Sunday, the Governor advised the bank to utilize the available financial resources for the growth of agricultural production, import minimization and export promotion.
"The agricultural sector has a huge potential. It can work for addressing the gap in supplies and price chain. It can extend its access to farmers and workers deprived of financial services and the marginalized community," he said. He also stressed on the need for the bank to diversify its services.
Revised interest rate corridor system introduced
President of Nepal Bankers Association, Sunil KC, said the Bank is making practices for sustainable banking services and such practice be further promoted.
Bank Board of Directors Chair Ramsharan Pudasaini said the Bank had achieved professional success despite a sluggish economy in the nation and in the world. "The Bank is competent to successfully manage the potential systemic risk in the banking sector," he said.
Poverty alleviation, small farmers' development programmes, rural and agricultural development and micro finance services for rural and indigent communities are the special concerns of the bank, according to him.
The Bank was established in 2041 BS. On the occasion of its anniversary, it announced an 11 percent cash dividend and two percent bonus share for its shareholders from the profit of the fiscal year, 2021/22.
Last fiscal year, its operating profit was Rs 4.82 billion while the deposit collections amounted over RS 199 billion and the loan disbursement was calculated at over Rs 182 billion. The portion of bad loans in the last fiscal was 2.78 percent. Its issued and paid-up capital amounted to Rs 18.62 billion and 51 percent, respectively, of its share is owned by the government.
