August 22, 2021 | Investopaper
The number of deposit accounts in banks and financial institutions has reached 36.36 million. According to the study report on ‘Financial Access in Nepal’ published by Nepal Rastra Bank on Friday, the number of loan accounts is 1.682 million. The study report has been prepared on the basis of the details of deposit accounts maintained in ‘A’, ‘B’ and ‘C’ class financial institutions in mid-April 2021 BS.
The study estimated that 67.3 percent population have at least one bank account. About one-third (33.6 percent) of the total deposit accounts are found to be dormant account. Saving accounts are the highest number of deposit accounts opened in the BFIs.
Similarly, the total number of branches of A, B, C class institutions has reached 5694, resulting in branches per 100,000 population to be 18.98.
The share of account holder using mobile banking, ATM and internet banking is 32.03 percent, 20.35 percent and 3.86 percent respectively. Financial technology is more popular among young and middle age population compared to other age groups. Mobile banking is used uniformly across all provinces. Metropolitan cities record the highest percentage of ATM and internet banking user.
Bagmati Province records the highest percentage of financial technology users. The study found that the highest number of ATM, mobile banking and internet banking users were in Bagmati Pradesh at 26.11, 33.12 and 6.40 percent respectively. Karnali Province and Sudurpashchim Province have a low number of ATM card and Internet Banking users.