The financial sector in Madhesh province is undergoing a notable expansion, as evidenced by the annual report on regional economic activity presented by the Nepal Rastra Bank for the fiscal year 2079/80. The report discloses a substantial 13.25% surge in total deposits and a 4.68% increase in loans, reflecting a positive trend in the banking landscape.
According to the report, banks and financial institutions in Madhesh province have witnessed a significant rise in total deposits, reaching Rs. 2 kharba 96 arba 50 crore. This marks a noteworthy increase of 13.25% compared to the previous fiscal year. In contrast, the corresponding period in the preceding year saw a 5.35% growth, amounting to Rs. 2 kharba 61 arba 81 crore.
The fiscal year’s review also indicates a 4.68% growth in loans extended by banks and financial institutions in Madhesh province, totaling Rs. 4 kharba 50 arba 21 crores. Although this represents a positive trajectory, the growth in loans during the same period of the previous year was more substantial at 16.70%, totaling Rs. 4 kharba, 30 arba, and 9 crore.
Furthermore, the report highlights an increase in the total number of branches of banks and financial institutions, including microfinance entities, licensed by Nepal Rastra Bank in Madhesh Province. The current count stands at 1,745 branches during the year under review, reflecting growth from the 1,607 branches that were operational in the province during the corresponding period in the previous year.
Highlights:
- Unilever Nepal Limited Reports 62.21% Surge in Q1 Net Profit, Demonstrates Strong Financial Performance for FY 2080/81
- The Nepal Stock Exchange (NEPSE) Index recorded a decrease of 8.71 points, equivalent to 0.42%, from the previous day’s closing, settling at 2,049.28 points. In contrast, the trading session prior to this reported a gain of 27.90 points for the index. The market opened today with the index starting at 2058.57, reaching an intraday low of 2,046.05, and hitting an intraday high of 2,072.08. Throughout today’s trading activities, a total of 303 different stocks were traded in 108,403 transactions. The traded shares amounted to 16,052,101, generating a total turnover of Rs. 5.58 Arba. The market capitalization was reported at Rs. 31.83 Kharba, with a float market capitalization of Rs. 11.00 Kharba. Sonapur Minerals And Oil Limited (SONA) emerged with the highest turnover, reaching Rs. 33.45 crores, and closed at a market price of Rs. 508. Among today’s notable performers, Kalika Power Company Ltd (KPCL) and Singati Hydro Energy Limited (SHEL) experienced the highest gains, both at 10%. Following closely were Nepal Warehousing Company Limited (NWCL) at 9.99% and Muktinath Krishi Company Limited (MKCL) at 9.98%. Conversely, Siddhartha Premier Insurance Limited (SPIL) faced the highest loss of 6.56%. Regarding sector indices, only four sectors closed positively today. The “Trading Index” saw the most significant gain of 2.34%, while the “Others Index” experienced a loss of 3.70%.
- SuryaJyoti Life Insurance Shines with 62.93% Net Profit Surge in Q2; EPS Reaches Rs. 10.41
- Surge in Electric Vehicle Imports Impacts Government Revenue in Jestha
- SEBON Grants IPO Approval to Five Companies, Including Two Life Insurance, Two Hydropower, and One Investment Sector Firm.
