The Executive Committee Members of Nepal Bankers’ Association (NBA) extended their heartfelt congratulations and best wishes to the newly appointed Hon’ble Deputy Prime Minister and Finance Minister, Mr. Bishnu Prasad Paudel, at the Ministry of Finance.
During the meeting, NBA President Mr. Sunil KC provided an overview of the current state of the Nepalese banking sector and emphasized the sector’s contribution to the country’s economic growth. He also discussed the recent challenges faced by the banking sector such as increasing negative public perception of the financial sector, targeted attacks on banks and financial institutions, declining profitability of banks, and the growth of non-performing loans. Mr. KC noted that although banks have sufficient loanable funds, there has been a noticeable decline in credit demand, which has prevented the market to be vibrant despite decreasing interest rates. He suggested that the government should take steps to make the economy more viable under the current circumstances, and assured that the banking sector is prepared to support the Government in achieving financial stability and economic development.
In response, Hon’ble Deputy Prime Minister and Finance Minister Mr. Paudel assured that the Government would continue to support and facilitate the banking sector as needed. He emphasized the Government’s commitment to take necessary actions to eliminate the atmosphere of fear and intimidation within the banking sector. He further stated that all stakeholders should focus on boosting economic activities by increasing the confidence of the general public, entrepreneurs and businesspeople, as this is the main challenge for Nepalese economy at present. The Finance Minister expressed a strong commitment to resolve the current challenges and requested continued support and coordination from all the stakeholders.
