KATHMANDU, Sept 18: A number of banks have raised their interest rates for the months of mid-September and mid-October despite the banks being reported to have sufficient loanable funds amid slow demand for loans.
KATHMANDU, September 2: Banks in Nepal have significantly expanded their investments in real estate loans. In the past fiscal year, commercial banks collectively invested over Rs 217 billion in real estate, as per the latest data from the Nepal Rastra Bank (NRB).
With the introduction of Automated Teller Machines (ATMs) in the 1960s, the banking industry took its first step toward automation. In Nepal, ATMs were first introduced in 1995 by Himalayan Bank Limited. Following ATMs, banks began to computerize their offices, reducing the need for physical information records.
KATHMANDU, July 7: Nepal Rastra Bank (NRB) has directed banks and financial institutions to extend Saturday services for the next two weeks in view of the closure of the current Fiscal Year (FY) 2022/23.
KATHMANDU, April 11: While Nepali banks have been piled up with an excess amount of loanable funds, they are unable to increase investment due to low demand for credit caused by exorbitant interest rates.
The survey reports of the private sector unveil a bleak picture of the economy. Manufacturers of construction materials are operating at 30 percent of their capacity, consumption of essentials has gone down by 18 percent and restaurants’ business by 20 percent, among others. These provide some evidence of how the economy is affected.
KATHMANDU, Nov 22: Twenty six commercial banks of Nepal collected deposits of Rs 16 billion in one month between mid-October and mid-November, giving some respite to the Nepali banking sector, which has been struggling to maintain their liquidity position.
KATHMANDU, Nov 10: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has requested all its chapters to stop the protest against the high interest rates. Keeping in mind that the House of Representatives and provincial assembly elections are going to be held on November 20, the FNCCI has requested all province chapters and member organizations to suspend the currently ongoing protest programs.
KATHMANDU, Nov 1: The nonperforming loans (NPL) of Nepali commercial banks have increased by a notable amount in the first three months of the current fiscal year, after the borrowers failed to pay back the banks’ loans on time due to excessive interest rates.
KATHMANDU, Nov 1: The new lending rates adopted by the commercial banks of the country that came into effect on Tuesday, October 18, demonstrate a rise from those employed previously. Creditors now have to pay as much as 18 percent interest rate for the money they borrow from banks. With soaring inflation and depleting foreign reserves, the increase in the lending rates reflects a liquidity crisis in the country that does not seem to have de-escalated with time.
KATHMANDU, OCT 15: Commercial banks are likely not to raise the interest rate on their deposit collection in the next month after the recently increased interest rate failed to attract the deposit collection.
KATHMANDU, Sept 15: Nepali commercial banks will be raising their interest rates on fixed deposits after the Nepal Bankers’ Association (NBA) decided not to intervene in the banks to fix their interest rates.
KATHMANDU, Sept 7: The government is extending the timeline allowing banks to consider up to 80 percent of the reserve funds of local governments in their deposit by another six months, citing the deepening liquidity crisis with the banks.
KATHMANDU, Sept 3: Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari said the liquidity crisis with banks can be corrected only with an improvement in the country’s balance of payments (BoP) position and government’s increased expenses on a periodic basis.
KATHMANDU, August 6: Nepali commercial banks increased their net profit by 23.14 percent in the last fiscal year as compared to that of the amount in 2020/21 despite facing shortage of loanable funds for almost a year.
KATHMANDU, July 20: Commercial banks got some respite from the pressure of liquidity crunch in the last month of the last fiscal year as they gathered additional deposits worth Rs 141 billion in their system compared to a drop in loans issuance in one month of mid-June and mid-July.
KATHMANDU, April 10: The commercial banks in the country have agreed not to open the letter of credit (LC) for the import of non-essential goods, in line with the instruction issued by Nepal Rastra Bank (NRB) last week.
KYIV, Feb 27: Western allies announced sweeping new sanctions against Moscow on Saturday, including kicking key Russian banks off the main global payments system, as a defiant President Volodymyr Zelenskiy said Ukrainian forces were repelling Russian troops advancing on Kyiv.
KATHMANDU, Jan 22: The commercial banks have raised their base interest rate on loans by more than two point percent effective from mid January, citing an increase in their expenses for the interest on deposits.
KATHMANDU, Jan 11: Commercial banks were able to collect additional deposits of Rs 59 billion over the past one week, which has given the banks some cushion at a time when they have been facing a liquidity shortfall.