Kathmandu: The Bank and Financial Institutions (BFIs) have been able to expand deposit collection by 0.7 percent in first two months of current FY 2021/22. Deposits at BFIs was increased by 0.5 percent in the corresponding period of the last fiscal year.
The data released by Nepal Rastra Bank shows that private sector credit from BFIs increased 5.7 percent in the review period compared to an increase of 0.5 percent in the corresponding period of previous year. On y-o-y basis, credit to the private sector from BFIs increased 33.9 percent in mid-September 2021.
On year over year basis, deposits at BFIs expanded 21.7 percent in mid-September 2021. The share of demand, saving, and fixed deposits in total deposits stands at 7.9 percent, 35.0 percent and 49.2 percent respectively in mid-September 2021. Such shares were 7.5 percent, 32.6 percent and 50.9 percent respectively last fiscal year 2020/21.
The majority of the deposit collected by BFIs is dominated by the individual depositors. As per the data unveiled today by NRB, individual depositors’ share 59.5 percent of the total deposits collected by BFIs during the first two months of current FY.
The share of institutional deposits in total deposit of BFIs stands at 40.5 percent in mid-September 2021. Such a share was 43.2 percent in mid-September 2020.