74 billion bad loans in commercial banks

Nov Sat 2022 01:49:38

268 views

74 billion bad loans in commercial banks

Kathmandu. Bad loans of commercial banks have increased. The bad loans of the banks, which were controlled to some extent in the last financial year 2078/79, have started to increase this year.

In the first quarter of the current year 2079/80, the average bad loan growth rate of 26 commercial banks has increased by 0.27 percent. Bad loans were 1.15 percent in the first quarter of last year, 1.11 percent in the second quarter, 1.23 percent in the third quarter and 1.15 percent in the fourth quarter. However, it increased to 1.77 percent in the first quarter of the current year.

According to the financial statement report, commercial banks have provided loans of 42 trillion 18 billion 15 million rupees till the first quarter. It seems that 1.77 percent of that amount, i.e. 74 billion 66 million rupees, is in bad loans.

Especially due to high prices, economic crisis etc., industrialists, traders and those who get loans from banks have been affected. The facility provided during the corona epidemic has also been removed. Due to these reasons, bad loans have started to increase' - said one of the bankers.

According to the financial statements of the first quarter released by the banks recently, Sunrise Bank has the most bad loans. The bank has 2.94 percent bad loans. Until last June, the said bank had 1.40 percent. Accordingly, Sunrise Bank's bad loans have doubled in 3 months.

The least bad loan is with Everest Bank. Only 0.33 percent of bad loans are seen with the said bank. However, bad loans of Everest Bank also seem to have increased. By the end of last year, Everest had only 0.24 percent bad loans.

The second number is Nepal SBI Bank. The bank has 0.36 percent bad loans. NIC at the third position has 0.59 percent bad loans.

In the current year, bad loans of 5 banks are less than 1 percent. According to the data, Standard Chartered, which is in the fourth position, has 0.77 percent and Sanima has 0.91 percent of bad loans.