Seven Bank Branches Closed by Mid-Mangsir, Total Branch Numbers Decline

By mid-Mangsir of the current fiscal year, seven branch offices of banks and financial institutions have been closed in Nepal. According to data released by Nepal Rastra Bank, the total number of bank and financial institution branches has seen a slight decline from the beginning of the fiscal year to mid-Mangsir.

The data show that as of mid-Ashadh 2082, banks and financial institutions (including microfinance institutions) operated 11,526 branches across the country. By mid-Mangsir 2082, this number had decreased to 11,519 branches.

At present, a total of 106 banks and financial institutions are operating with licenses from Nepal Rastra Bank. These include 20 commercial banks, 17 development banks, 17 finance companies, 51 microfinance financial institutions, and one infrastructure development bank.

The central bank’s statistics indicate a gradual consolidation in the banking sector, reflecting adjustments in branch networks amid evolving banking practices and operational efficiency measures.