Agriculture Development Bank urged to diversify its service

KATHMANDU, JANUARY 22: Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari has advised the Agricultural Development Bank that it should increase investment in the agricultural sector and focus on import replacement.

In his address to the 57th anniversary of the Agricultural Development Bank here yesterday, the Governor advised the bank to utilise the available financial resources for the growth of agricultural production, import minimization and export promotion.

“The agricultural sector has a huge potential. It can work to address the gap in supply and price chains. It can extend its access to farmers and workers deprived of financial services and the marginalised community,” he said. He also stressed the need for the bank to diversify its services.

On the occasion of its anniversary, the bank announced an 11 per cent cash dividend and a two per cent bonus share for its shareholders from the profit of the fiscal year, 2022/23.

Last fiscal year, its operation profit was Rs 4.82 billion while the deposit collections amounted to over RS 199 billion and the loan disbursement was calculated at over Rs 182 billion. The portion of bad loans in the last fiscal was 2.78 per cent. Its issued and paid-up capital each amounted to Rs 18.62 billion and 51 per cent of its share is owned by the government.

RSS