By Ajay Chhetri, Kathmandu, Nov 3: A two-third of the total deposit mobilization of the Bank and Financial Institutions (BFI’s) has been found to have concentrated in Bagmati Province. Nepal Rastra Bank (NRB’s) report “Financial Sector’s Resource Mobilization under the Federal Structure of Nepal” released in November 2021 revealed that 68.1 per cent of the total deposit from the aggregate deposit of Rs. 4.28 trillion is concentrated in the Bagmati Province.

Following Bagmati, Lumbini has deposit mobilization of 8.6 per cent, Gandaki has 7.8 per cent,  Province 1 has 7.3 per cent, Province 2 has  5.1 per cent, Sudurpashchim has 2.1 per cent and the Karnali Province has the least percentage with only 1 per cent by the end of mid-January 2021.

Bagmati Province is also privileged with the highest number of bank branches whereas Karnali Province has the lowest in number. The report showed that Bagmati Province has access to over 34 per cent of the bank branches out of the total branches of BFIs whereas Karnali Province has acutely lower with just 4 per cent.

Along with the higher access of bank branches, Bagmati Province has the highest number of deposit account among all the other provinces. The report showed that the number of deposit accounts of BFIs reached 34.57 million in mid-January 2021. Out of this, the largest share of deposit account of BFIs lies in Bagmati Province with 38.7 per cent at the end of mid-January 2021. Lumbini Province followed Bagmati Province with 15.7 per cent bank accounts. Meanwhile, Karnali Province and Sudurpashchim Province have been left behind with 3.1 per cent and 6.1 per cent respectively.