Kathmandu. The number of deposit accounts opened in banks and financial institutions in Nepal has reached 6,30,65,994. According to the Nepal Rastra Bank, more than 3,636,000 new deposit accounts have been added in the first 11 months of the current fiscal year 2082/83.
In the same period last year, the number of deposit accounts was 5,94,29,367.
However, even though the number of accounts has almost doubled the total population of Nepal, it cannot be taken as expanding banking access to every citizen in the same proportion.
According to the Financial Stability Report 2081/82 released by the Nepal Rastra Bank, the bad loans (NPL) in the banking sector have increased significantly. The report pointed out that increasing pressure on the credit quality of banks and financial institutions has added challenges to financial stability.
According to the report, the total bad loans of banks and financial institutions increased to Rs 258.19 billion in the review period from Rs 199.66 billion in the previous year. At the same time, the non-performing loan ratio (NPL ratio) has also increased to 4.62 percent.
