Kathmandu,
Mar. 27: Banks and financial institutions (BFIs) have established 1080 new
branches across the country in the first seven months of the current fiscal
year 2018/19.
The
number of branches of 157-BFIs by the end of the last fiscal year was 6,651
which increased to 7731 in mid-February this year, said the Nepal Rastra Bank
(NRB).
Among
the BFIs, microfinance companies established the highest number of branches –
they expanded their services through additional 1,115 branches while the
finance companies' branches decreased by two in the same period.
Class
'B' institutions (development banks) added 22 branches to make 1,181 while
commercial banks added 33 branches.
Meanwhile,
of the 753 local levels, 711 have at least a branch of a commercial banks with
facilitates of banking transactions as well as government fund transfers in a
hassle-free way.
Of the seven States, Karnali has the highest
local levels, 15, without the presence of commercial banks. Likewise, State 1
has eight local levels without the access to the commercial banks, Sudurpaschim
six, and Gandaki three local units. Similarly, three, five and two local units
in State 2, State 3 and State 5 respectively lack the access to the commercial
banks.
Presence of Commercial Banks
|
State
|
Number of
Local Units
|
Local Units with
Bank Branch
|
Local Units without
Bank Branch
|
|
Province 1
|
137
|
129
|
8
|
|
Province 2
|
136
|
133
|
3
|
|
Province 3
|
119
|
114
|
5
|
|
Gandaki
|
85
|
82
|
3
|
|
Province 5
|
109
|
107
|
2
|
|
Karnali
|
79
|
64
|
15
|
|
Sudurpaschim
|
88
|
82
|
6
|
|
Total
|
753
|
711
|
42
|
Source: NRB
Published in The Rising Nepal daily on 28 March 2019.
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