Agricultural Development Bank marks 59th anniversary

Kathmandu, Jan 21: By the second quarter of the current fiscal year 2025/26, the total deposits of the Agricultural Development Bank have reached Rs 324 billion 970 million while the total loan disbursement is Rs 230 billion 270 million.     

The Bank stated that by that period, non-performing loans accounted for 4.52 per cent of total loan investments.     

This information was shared in a programme organized on the occasion of the Bank's 59th anniversary. The Agricultural Development Bank Limited has celebrated its 59th anniversary with various programmes today.     

Established as a leading bank for loan investment in the agricultural sector, this bank has progressively improved its business plans, working style, managerial capacity, and technical systems over time.     

Currently, the bank has 51 percent of its shares owned by the Government of Nepal and 49 percent by the general public.     

According to the bank, 50 percent of the total loan growth target for the fiscal year 2082/83 has been invested in the agricultural sector.     

In terms of financial indicators, compared to the previous fiscal year, the Bank's total deposits increased by 20.31 percent in fiscal year 2081/82, reaching Rs 293 billion 350 million, while loan disbursement increased by 8.40 percent, reaching Rs 224 billion.     

During that period, the Bank's non-performing loan ratio was 3.44 percent and the net profit was Rs 3.73 billion.     

Speaking at the anniversary celebrations held at the bank's central office, the Bank's chairman, Dim Prakash Poudel, highlighted the need to become proficient in new technology and modern administrative and banking systems to keep pace with the rapid changes in the banking sector.     

Referring to the radical changes in the banking system at present, he mentioned that the Agricultural Development Bank has largely adopted those changes.     

Chief Executive Officer (CEO) Govinda Gurung said that the Bank has given special attention to expanding banking access in rural areas while prioritising agricultural loans. He added that priority has been given to credit expansion in productive sectors that would help in import substitution and export promotion. 

CEO Gurung stated that a five-year strategic business plan has been implemented from 2081/82 BS to 2084/85 BS, with the aim of making banking services efficient, accurate and customer-focused.     

He said the Bank, while fully complying with the regulations and directives of Nepal Rastra Bank, has maintained financial discipline and is providing various digital services with digitalisation as the focus.     

On the occasion of the anniversary, the Agricultural Development Bank has launched the 'One Minute Business Plan' software targeting small farmers and also formally inaugurated the Child Care room at its central office.(RSS)