NEPSE News
NEPSE market news covering general market updates, dividend and bonus announcements, IPO/FPO listings, and newly listed shares. Each article is stored in our database and presented with full content — no redirects to external sites.
साताको पहिलो दिन नेप्सेमा दोहोरो अंकको गिरावट
काठमाडौं । साताको पहिलो कारोबार दिन सोमबार नेप्से परिसूचक दोहोरो अंकले घटेर बन्द भएको छ। अघिल्लो कारोबार दिन अर्थात् गत शुक्रबार पनि घटेको बजारले सोमबार त्यसैलाई निरन्तरता दिएको हो। सोमबार नेप्से परिसूचक २०.४८ अंकले घटेर २५६६.७६ विन्दुमा झरेको छ। यस दिन सेन्सेटिभ इन्डेक्स ३.२३ अंकले घटेको छ। त्यस्तै, फ्लोट इन्डेक्स १.४७ अंक र सेन्सेटिभ फ्लोट इन्डेक्स १.१३ अंकले घटेका छन्। नेप्सेसँगै यस दिन कारोबार रकममा पनि कमी आएको छ। गत शुक्रबार ४ अर्ब २९ करोड रुपैयाँबराबरको शेयर कारोबार भएकोमा सोमबार ३५९ स्टकको ४४ हजार ७७७ पटकको कारोबारमा ३ अर्ब २७ करोड ९५ लाख ९ हजार रुपैयाँबराबरको ९० लाख ३ हजार कित्ता शेयर खरिदबिक्री भएको छ। यस दिन सर्वाधिक मूल्य बढ्ने १० कम्पनीको सूचीमा अधिकांश ऋणपत्र रहेका छन्। १०.३० प्रतिशत स्ट्यान्डर्ड चार्टर्ड बैंक डिबेञ्चरको मूल्य ५.७५ प्रतिशतले बढेको छ। त्यस्तै, १० प्रतिशत नेपाल एसबीआई बैंक डिबेञ्चर २०८६ र ग्लोबल आईएमई समुन्नत योजना–२ को मूल्य करिब ५ प्रतिशतले बढेको छ। कारोबारमा आएको त्रिशूली जलविद्युत् कम्पनीको शेयरमूल्य भने यस दिन सर्वाधिक ५.८४ प्रतिशतले घटेको छ। कारोबार रकमका आधारमा घलेम्दी हाइड्रो शीर्ष स्थानमा रहेको छ। कम्पनीको २२ करोड ८६ लाख रुपैयाँबराबरको शेयर कारोबार भएको छ। त्यस्तै, हाथवे इन्भेस्टमेन्टको ८ करोड ४९ लाख रुपैयाँ र शिवम् सिमेन्ट्सको ८ करोड ४३ लाख रुपैयाँभन्दा बढीको शेयर कारोबार भएको छ। १३ उपसमूहमध्ये सोमबार एक उपसमूहको परिसूचक बढेको छ भने १२ उपसमूहको परिसूचक घटेको छ। व्यापार उपसमूहको परिसूचक सामान्य अंकले बढेको हो। घट्ने उपसमूहमध्ये वित्त उपसमूहको परिसूचक सर्वाधिक १.१० प्रतिशतले घटेको छ। त्यस्तै, होटल तथा पर्यटन, जलविद्युत् र लगानी उपसमूहको परिसूचक पनि १ प्रतिशतभन्दा बढीले घटेका छन्।
Mahalaxmi Bikas Bank Offers Daraz Discounts Every Monday
Mahalaxmi Bikas Bank Limited has launched the "Mahalaxmi Maha Monday" scheme, offering discounts to it's debit and credit cardholders on online purchases through Daraz Nepal. Under the offer, debit cardholders can get a 10% discount of up to Rs. 750 on purchases worth at least Rs. 1,999. Credit cardholders can receive a 15% discount of up to Rs. 1,000 on purchases of the same minimum amount. The offer is available every Monday and will be provided on a limited, first-come, first-served basis. The bank said the scheme is aimed at encouraging digital payments and reducing cash-based transactions while providing additional benefits to customers. Mahalaxmi Development Bank has also recently launched a digital hub with a coffee lounge in Gyaneshwor, Kathmandu.
Nepal’s Stock Market Journey: From Post-Election Rally to Falling Confidence
Nepal’s stock market sentiment has been a roller coaster over the past half-year, peaking immediately after the general election and then correcting sharply amid reduced trading volumes, arrests of key figures, investigations, and investor confidence in the market. By the end of September, optimism that sent the market surging sharply higher immediately after the election had vanished. The NEPSE jumped 162.93 or 6 percent to close at 2,875.43 on March 9, 2026, after hitting all three positive circuit breakers on the day as traders snapped up shares in expectation of economic growth after the election. The NEPSE had closed at 2,712.49 points on March 3, 2026, and climbed to 2,875.43 on March 9, jumping 162.93 points or 6 percent. The market jumped 4 percent in the first hour, 5 percent in the second, and 6 percent later in the day before closing. The rally was driven by expectations of political stability and a new economic direction following the election. The Rastriya Swatantra Party secured 125 of the 165 first-past-the-post seats, creating expectations of a strong government with the capacity to introduce policy and institutional reforms. The bullish run in the share market, however, was short-lived as the NEPSE fell 32.08 points to 2,843.35 on March 10, 2026. It then rebounded strongly on March 26, 2026, closing at 2,950.16 points. This was the level to which the NEPSE regained just before Prime Minister Balendra Shah took office on March 27, 2026. NEPSE fell by 71.05 points on March 29 and 47.71 points on March 30, 2026. The market continued its slide, recording a drop of 105.50 points on 5th April 2026. The sharp correction showed that the election rally had been largely based on expectations. Once the government was formed, investors began evaluating actual policies, liquidity, earnings, regulation, and the broader business environment rather than simply pricing in political change. Not only the index but also market value dropped significantly during the period. The total market value of Nepal’s stock market declined from around Rs. 5.009 trillion as of March 26 to around Rs. 4.416 trillion as of July 13, 2026. During the period, the NEPSE also dropped more than 380 points, from 2,950.16 to 2,570.28 points. The market continued to decline, hitting 2,613.33 points on September 28 and 2,598.89 points on September 30, 2026. It closed at 2,587.25 points on October 2, 2026. The index was down more than 360 points compared to where it was in early March, when Balendra Shah took office. The trading pattern also changed. The market moved from the high-turnover, high-expectation environment seen around the election to a more cautious phase in which investors increasingly preferred to wait rather than commit fresh capital. The most surprising lesson about Nepal’s capital market in the past six months is how quickly investor confidence was damaged after the new government was formed. The bullish run recorded immediately after the election demonstrated that investors were quick to believe that the election results would bring stability to the country and, by extension, the capital market. They were, however, just as quick to realize that the situation had not changed substantially after the new government was formed. According to an analysis by The Kathmandu Post in July 2026, in the first 106 days of the new government, the NEPSE fell on 47 of the 73 trading days and rose on 26 days. In addition, the analysis noted that trading volumes were on average Rs. 13 billion per day before the new government was formed, compared to only Rs. 5.6 billion per day in the same period after the government was formed. Similarly, capital-gains tax collections from the capital market also dropped from Rs. 15.306 billion in the first 11 months of the fiscal year ended July 2025 to only Rs. 9.64 billion in the first 11 months of the fiscal year ended July 2026, a drop of about 37 percent. Investor confidence was also dented by controversies that erupted around key figures in the new government, including the arrest of former Prime Minister KP Sharma Oli and former home minister Ramesh Lekhak in March 2026 over allegations of involvement in the September 2025 Gen Z protests and later their release after they agreed to cooperate with the investigation. The market became even more jittery when several businesspeople were investigated and arrested over allegations of securities fraud, insurance fraud, and money laundering. Shekhar Golchha was arrested in April 2026 in relation to investigations into alleged share price rigging and later released on a Supreme Court order after his lawyers challenged his detention, but was arrested again in connection with another investigation. Similarly, businessmen Deepak Bhatta and Sulav Agrawal were arrested and investigated in relation to allegations of share price rigging and money laundering. Investigators recommended prosecution in a money-laundering case involving 29 people and transactions worth almost Rs20 billion. Former finance minister Bishnu Poudel was also arrested in relation to a money-laundering case involving the Bhatta case in June 2026. These are allegations, and these people have been investigated and could still be prosecuted. For the capital market, the implications of these investigations are significant, as many of those investigated and arrested are major players in the business world. Their detention and investigations have created uncertainty in the market at a time when businesses need stability to grow. Market players have repeatedly cited fears around investigations as a reason why major investors have remained on the sidelines, waiting for more clarity. Some positive changes have taken place in Nepal’s capital market in the past six months, despite the overall negative story around the NEPSE. For example, more companies have been listed on the stock exchange, although the market remains heavily weighted towards the banking, financial, insurance, and hydropower sectors. The market has undergone a significant correction in valuation, liquidity, and confidence. In addition, market infrastructure was also tested when trading was suspended on September 21, 2026, after a ransomware cyberattack disabled NEPSE’s data hub and trading systems. A five-member committee was formed to probe the incident and come up with recommendations to avert such attacks in the future. This happened at a time when the government was embarking on measures to facilitate more advanced trading facilities. The attack, therefore, raised questions about the readiness of Nepal’s capital market to embrace technological innovations such as intraday trading, derivatives, and other related products. Experts argue that developing new market products requires adequate technology and cybersecurity infrastructure to ensure reliability. Despite the market’s challenges, Nepal’s government has not been idle in terms of reform. The FY2026 budget proposed restructuring the NEPSE and introducing intraday trading while also considering short selling and derivatives. The government has since proposed a 21-point Capital Market Strengthening and Revival Action Plan which covers a wide range of issues including restructuring NEPSE, introducing a new benchmark index, developing the bond and money markets, boosting institutional investments, building a framework for margin lending, intraday trading, securities lending and borrowing, and short selling. The plan also proposes opening up the secondary market to non-resident Nepalis and changing the capital-gains tax structure to encourage long-dated investments. In addition, the government has proposed institutional and legal reforms to SEBON, NEPSE, and CDS and Clearing while also requesting the parliamentary Finance Committee to take action on issues concerning improved cybersecurity, institutional arrangements, and actions against market abuses including cornering, circular trading, and pump-and-dump activities. These proposals, if fully implemented, will have a significant impact on Nepal’s capital market. However, most of these proposed changes are yet to be implemented and will require policy changes, regulatory approvals, time, and resources before they can be realised and have an impact on the capital market. What, then, is the story behind Nepal’s stock market over the past six months? Apart from the sharp decline in the share price following the election rally, the biggest lesson is the loss of confidence in the market’s ability to provide a stable, reliable, and attractive investment environment. The market witnessed one of its strongest rallies in the recent past immediately after the general election, peaking at 2,950 points before sharply correcting. It also recorded a significant drop in market value, trading volumes, and liquidity, as well as a wave of investigations into key individuals and businesses, and a cyberattack that caused significant disruptions and reduced confidence in the market. At the same time, the government has proposed significant reforms to Nepal’s capital market with the long-term goal of positioning it as a major financial centre in the region. The key question to watch out for in the months to come is whether these proposed reforms will be implemented soon enough to boost liquidity, trading volumes, attract institutional investors, increase market infrastructure, and confidence in the capital market. Six months later, the market still has high hopes that the promised reforms will enable it to deliver on its potential as a dynamic and reliable investment destination.
Three Riders Qualify for ARE GP Grand Finale from Butwal
Jagdamba Motors Pvt. Ltd. has completed the Butwal round of the Apache Race Experience (ARE) GP Racing Qualifiers, with three riders securing places in the Grand Finale. The event was held at Shree Gauranga Easy Way Trial Center in Tilottama-5, Manigram, with 76 riders taking part. The qualifiers were organized with Balaji Automobiles, the authorized TVS dealer for the Butwal region. Participants received track training on riding posture, cornering, braking, leaning and vision control from racers Sujan Thapa Magar and Nawang Moktan before competing in the 160cc category. Dhiraj B.K. won the 160cc race with a time of 34.07 seconds, followed by Abhishek Panthi at 34.62 seconds and Arik Shrestha at 34.87 seconds. The three riders will represent Butwal at the ARE GP Grand Finale, joining qualifiers from Kathmandu, Nepalgunj, Itahari and Pokhara. The winners of the 160cc and 200cc categories at the Grand Finale will get an opportunity to represent Nepal at the TVS One Make Championship at the Madras International Circuit in India, where they will compete against riders from more than 50 countries. The ARE GP is part of Jagdamba Motors' year-long Apache Race Experience program, which includes track training sessions and regional qualifiers across Nepal.
Wuling Offers Three Electric Vehicle Models in Nepal
Wuling has introduced three electric vehicle models in Nepal Eksion, Mini EV and Darion targeting different customer needs from urban commuting to family travel. The models are imported and distributed in Nepal by Paramount Motors Pvt. Ltd. The Wuling Eksion is a 5+2-seat electric SUV powered by a 69.2 kWh battery, with a claimed range of up to 530 km. It has a 150 kW motor and 310 Nm of torque. The Wuling Mini EV is a compact four-door, four-seat electric car designed for city use. It comes with a 25.1 kWh battery, a claimed range of up to 301 km and a 30 kW motor. Meanwhile, the Wuling Darion is a seven-seat electric MPV aimed at family users. It is equipped with a 69.2 kWh battery and offers a claimed range of up to 540 km, along with a 150 kW motor and 310 Nm of torque. Wuling provides an eight-year or 150,000-km warranty for the traction motor and high-voltage battery, whichever comes first. The brand is manufactured by SAIC-GM-Wuling (SGMW), a joint venture associated with General Motors.
Dipendra Kumar Mishra Appointed Chairman of Himalayan Reinsurance
Himalayan Reinsurance Limited has appointed Director Dipendra Kumar Mishra as the Chairman of its Board of Directors. The decision was made during the company’s 91st board meeting held on Thursday, Ashwin 15, 2083. Mishra has been selected to fill the vacant chairman position and will serve in the role until the company's next annual general meeting.
Gold Price Falls, Silver Rises; Check Today's Updated Rate
Gold prices have witnessed a moderate fall in the domestic market today, falling by Rs. 400 per tola to settle at Rs. 291,500 per tola, down from the previous rate of Rs. 291,900 per tola. The Federation of Nepal Gold and Silver Dealers' Association (FENEGOSIDA) reported that Tejabi gold price also declined by Rs. 400 per tola to reach Rs. 290,800 per tola, compared to Rs. 291,200 per tola on the previous day. Meanwhile, Silver prices moved in the opposite direction; the price rises by Rs. 40, now trading at Rs. 4,430 per tola, down from the previous rate of Rs. 4,390 per tola.
Brilliant Securities Conducts Financial Literacy Programs at Kathmandu Colleges
Brilliant Securities has conducted financial literacy and investment awareness programs at several colleges in Kathmandu. The programs were held at Triton SS & College, Koteshwor, Xavier International College, Bouddha, and other educational institutions. The sessions covered financial planning, stock market basics, investment awareness and capital allocation. Students and faculty members also received practical information on Nepal’s capital market and making informed investment decisions. Brilliant Securities said the programs are aimed at improving financial knowledge and encouraging responsible investment habits among young people. Brilliant Securities is NEPSE Broker No. 8 and has more than 95,000 clients and three branch offices.
Sunil Ballabh Pant Reappointed as CEO of NLG Insurance Company
NLG Insurance Company Limited has reappointed Sunil Ballabh Pant as its Chief Executive Officer for another four year term. The decision was made during the company’s 421st Board of Directors meeting held on Friday, October 2, 2026 (Ashwin 16, 2083 BS). Pant’s current term is set to complete on October 9, 2026 (Ashwin 23, 2083 BS). His new four year tenure will begin on October 10, 2026 (Ashwin 24, 2083 BS) and will run through October 9, 2030 (Ashwin 23, 2087 BS). The company has formally notified the Nepal Stock Exchange regarding this decision.
Himalaya Urja Bikas Company Limited Calls 26th AGM on Kartik 16; What are the Agendas?
Himalaya Urja Bikas Company Limited (HURJA) has called its 25th AGM on 16th Kartik, 2083. The meeting will be held at Arpan Banquet, New Baneshwor, Kathmandu, starting at 11:00 AM that day. These are the agendas of the AGM: 1) Endorsement of financial reports for the fiscal year 2082/83. 2) Endorse the auditor's report on the PL statements, financial reports, and cash flow reports. 3) Endorse the appointment of the auditor for the fiscal year 2083/84. 4) To reduce the remuneration of the board of directors. 4) To approve the approval of the appointment of an independent director for the remaining term. Ashwin 28 is the book closure date. Thus, shareholders who held their shares before that day can attend the AGM. Notice:
NRB Plans a Massive Rs. 2 Coin Supply: 300 Million Pieces Up for Bid
Nepal Rastra Bank (NRB) has invited bids from pre-qualified security printing companies for the designing, minting, supply and delivery of 300 million pieces of Rs. 2 denomination circulation coins. The bid notice was published on October 5, 2026, with the procurement estimated to cover the supply of the coins and related services. Interested pre-qualified companies can purchase the bidding documents until November 3, 2026. The pre-bid meeting will be held on October 16 at the NRB’s Currency Management Department in Thapathali, Kathmandu. Sealed bids must be submitted by 12:00 PM on November 4, 2026, while the bids will be opened at 1:00 PM the same day. The bid must remain valid for 120 days, with a minimum bid security of USD 132,000.
निजी क्षेत्रलाई राष्ट्रिय प्रसारण लाइन प्रयोग गर्न बाटो खुला
काठमाडौं । सरकारले निजी क्षेत्रलाई राष्ट्रिय विद्युत् प्रसारण लाइन प्रयोग गर्ने बाटो खुला गरेको छ। ऊर्जा, जलस्रोत तथा सिँचाइ मन्त्रालयअन्तर्गत विद्युत् नियमन आयोगले विद्युत् व्यापारमा निजी क्षेत्रलाई सहभागी गराउने उद्देश्यले राष्ट्रिय प्रसारण प्रणाली प्रयोगका लागि प्रसारण दस्तुर अर्थात् ह्विलिङ चार्ज निर्धारण गरेको हो। आयोगले बिहीबार ऊर्जामन्त्री विराजभक्त श्रेष्ठको सहभागितामा ‘राष्ट्रिय विद्युत् प्रसारण ग्रिडको प्रसारण शुल्क गणनासम्बन्धी मापदण्ड–२०८३’ सार्वजनिक गर्दै चालु आर्थिक वर्ष २०८३/८४ का लागि प्रसारण शुल्क निर्धारण गरेको हो। यससँगै निजी क्षेत्र तथा तेस्रो पक्षले नेपाल विद्युत् प्राधिकरणको राष्ट्रिय प्रसारण ग्रिड प्रयोग गरेर विद्युत् आदानप्रदान गर्न सक्ने भएका छन्। आयोगका अध्यक्ष डा. रामप्रसाद धितालका अनुसार राष्ट्रिय विद्युत् प्रसारण ग्रिडको प्रसारण प्रणाली उपयोगका लागि मध्यकालीन तथा दीर्घकालीन खुला पहुँचअन्तर्गत प्रतिमेगावाट प्रतिमहिना ४१ हजार २७५ रुपैयाँ र अल्पकालीन खुला पहुँचअन्तर्गत प्रतिकिलोवाट घण्टा ५७ पैसा शुल्क निर्धारण गरिएको छ। अब तेस्रो पक्ष वा निजी क्षेत्रले प्रसारण तथा वितरण प्रणाली प्रयोग गरेबापत तोकिएको दरअनुसार नेपाल विद्युत् प्राधिकरणलाई ह्विलिङ शुल्क तिर्नुपर्नेछ। विद्युत् प्रसारणमा ‘खुला पहुँच’ कार्यान्वयनमा आएसँगै निजी क्षेत्रका प्रवर्धक वा उपभोक्ताले शुल्क तिरेर प्राधिकरणको विद्यमान प्रसारण संरचना प्रयोग गर्न पाउने भएका हुन्। विद्युत् उत्पादन भएको स्थानबाट उपभोक्ता वा अर्को क्षेत्रमा विद्युत् लैजान विद्यमान प्रसारण संरचना प्रयोग गरेबापत तिर्ने शुल्कलाई प्राविधिक रूपमा ह्विलिङ चार्ज भनिन्छ। आयोगले चालु आर्थिक वर्षमा अधिकतम प्रक्षेपित विद्युत् भार ३ हजार ५८७ मेगावाट रहने अनुमानका आधारमा ह्विलिङ दर निर्धारण गरेको जनाएको छ। यसका लागि आयोगले यसअघि जारी गरेको ‘विद्युत् प्रसारण तथा वितरण प्रणालीमा खुला पहुँचसम्बन्धी निर्देशिका–२०८२’ को दफा ३३ बमोजिम मापदण्ड तयार गरेको हो। प्रसारण प्रणालीको वार्षिक आवश्यक आय गणना गर्दा पुँजीगत सम्पत्ति, ह्रासकट्टी, दीर्घकालीन ऋणको ब्याज, कर्मचारी तथा सञ्चालन र सम्भार खर्च, चालु पुँजीको ब्याज तथा स्वपुँजीमा प्रतिफललाई आधार मानिएको आयोगले जनाएको छ। नेपाल विद्युत् प्राधिकरणको आर्थिक वर्ष २०८१/८२ को लेखापरीक्षण भएको वित्तीय विवरणअनुसार प्रसारण प्रणालीको कुल वार्षिक आवश्यक आय ११ अर्ब १ करोड ५० लाख रुपैयाँ रहेको थियो। आयोगका अनुसार आर्थिक वर्ष २०७८/७९ देखि २०८२/८३ सम्म वार्षिक आवश्यक आयमा भएको औसत २७ प्रतिशत वृद्धिदरलाई आधार मानेर आर्थिक वर्ष २०८३/८४ का लागि प्रसारण प्रणालीको अनुमानित वार्षिक आवश्यक आय १७ अर्ब ७६ करोड ७० लाख रुपैयाँ प्रक्षेपण गरिएको छ। यही आधारमा प्रसारण प्रणाली उपयोग शुल्क निर्धारण गरिएको हो। आयोगले राष्ट्रिय विद्युत् प्रसारण ग्रिडबाहेकका रेडियल तथा डेडिकेटेड प्रसारण संरचनाको शुल्क निर्धारणका लागि छुट्टै निर्देशिका जारी गर्ने तयारीसमेत गरेको छ। आयोगले प्रसारण प्रणाली उपयोग शुल्क पारदर्शी लागतमा आधारित र नियमनका दृष्टिले उचित हुने गरी निर्धारण गरिएको जनाएको छ। हाल निजी जलविद्युत् प्रवर्धकले आफ्नो विद्युत् आयोजनाबाट नजिकको सबस्टेसनसम्म विद्युत् जोड्न आवश्यक छोटो दूरीको प्रसारण लाइन आफ्नै लगानीमा निर्माण गर्दै आएका छन्। तर एक स्थानबाट अर्को स्थानसम्म विद्युत् आपूर्ति गर्ने ठूला प्रसारण करिडोर तथा राष्ट्रिय ग्रिडका पूर्वाधार निर्माण र सञ्चालनमा निजी क्षेत्रको प्रत्यक्ष सहभागिताका लागि कानुनी व्यवस्था सीमित छ। यस्तो अवस्थामा विद्यमान सरकारी प्रसारण संरचना शुल्क तिरेर निजी क्षेत्रले प्रयोग गर्न पाउने व्यवस्था कार्यान्वयनमा आउनुलाई विद्युत् व्यापारमा खुला पहुँचको अभ्यासका रूपमा हेरिएको छ।
साउनमा २ खर्ब १५ अर्ब रेमिट्यान्स, शोधनान्तर ९० अर्ब बचत
काठमाडौं । चालु आर्थिक वर्षको पहिलो महिना साउनमा नेपालको शोधनान्तर स्थिति ९० अर्ब ३४ करोड रुपैयाँले बचतमा रहेको छ । रेमिट्यान्स आप्रवाह, निर्यात र प्रत्यक्ष वैदेशिक लगानी (एफडीआई) मा सुधार आएपछि शोधनान्तर स्थिति बचतमा देखिएको हो । नेपाल राष्ट्र बैंकका अनुसार चालु आवको साउनमा निर्यात ६१.७ प्रतिशतले बढेर ३८ अर्ब ७० करोड रुपैयाँ पुगेको छ । यस अवधिमा रेमिट्यान्स आप्रवाह २ खर्ब १५ अर्ब रुपैयाँ पुगेको छ । त्यस्तै, साउनमा १ अर्ब १ करोड रुपैयाँ बराबरको प्रत्यक्ष वैदेशिक लगानी भित्रिएको छ । समीक्षा अवधिमा चालु खाता पनि ९४ अर्ब ५९ करोड रुपैयाँले बचतमा रहेको छ । गत आर्थिक वर्षको सोही अवधिमा चालु खाता ७८ अर्ब २९ करोड रुपैयाँले बचतमा थियो । अमेरिकी डलरमा गत वर्ष साउनमा ५६ करोडले बचतमा रहेको चालु खाता यस वर्ष ६२ करोड डलरले बचतमा रहेको छ । चालु आवको साउनमा खुद पूँजीगत ट्रान्स्फर ६३ करोड रुपैयाँ रहेको छ । गत आवको सोही अवधिमा यस्तो ट्रान्स्फर १ अर्ब ४ करोड रुपैयाँ थियो । समीक्षा अवधिमा भित्रिएको १ अर्ब १ करोड रुपैयाँको एफडीआईमध्ये इक्विटी लगानी रहेको छ । गत आवको सोही अवधिमा इक्विटीमार्फत ६९ करोड रुपैयाँ एफडीआई भित्रिएको थियो । गत आर्थिक वर्षको साउनमा शोधनान्तर स्थिति ८९ अर्ब ३० करोड रुपैयाँले बचतमा रहेको थियो । यस वर्ष सोही अवधिमा शोधनान्तर बचत बढेर ९० अर्ब ३४ करोड रुपैयाँ पुगेको छ । अमेरिकी डलरमा भने गत वर्ष ६४ करोड डलरले बचतमा रहेको शोधनान्तर स्थिति यस वर्ष ५९ करोड डलरले बचतमा रहेको छ ।
बैंकमा ८३ खर्ब निक्षेप, कर्जा विस्तार भने सुस्त
काठमाडौं । नेपालको बैंकिङ प्रणालीमा कर्जाको ब्याजदर पछिल्लो एक दशकयताकै न्यून विन्दुमा झरे पनि कर्जाको माग र नयाँ लगानी विस्तारमा अपेक्षित सुधार आउन सकेको छैन । बैंक तथा वित्तीय संस्थामा लगानीयोग्य रकम थुप्रिँदा कर्जा–निक्षेप अनुपातसमेत न्यून विन्दुमा पुगेको छ । नेपाल राष्ट्र बैंकले सार्वजनिक गरेको २०८३ साउनको बैंकिङ तथा वित्तीय तथ्याङ्कअनुसार वाणिज्य बैंकहरूको कर्जाको भारित औसत ब्याजदर ६.४८ प्रतिशतमा झरेको छ । त्यस्तै, निक्षेपको औसत ब्याजदर ३.१५ प्रतिशतमा सीमित भएको छ । साधारण बचतको औसत ब्याजदर २.७३ प्रतिशत, मुद्दती निक्षेपको ४.७३ प्रतिशत र कल निक्षेपको ब्याजदर ०.४९ प्रतिशत रहेको छ । ब्याजदर घटेर कर्जा सस्तो भए पनि निजी क्षेत्रबाट नयाँ लगानीको माग बढ्न सकेको छैन । आर्थिक गतिविधिमा सुस्तता, उपभोक्ता मागमा कमी, खराब कर्जाको दबाब तथा ग्रामीण अर्थतन्त्रमा देखिएको समस्याका कारण लगानीकर्ता अझै पर्ख र हेरको अवस्थामा रहेका छन् । साउन मसान्तसम्म बैंक तथा वित्तीय संस्थामा कुल निक्षेप ८२ खर्ब ८८ अर्ब ७७ करोड रुपैयाँ पुगेको छ । सो अवधिमा कुल कर्जा प्रवाह ५९ खर्ब ५० अर्ब रुपैयाँ आसपास रहेको छ । राष्ट्र बैंकले तोकेको ९० प्रतिशतको सीमाको तुलनामा समग्र वित्तीय प्रणालीको कर्जा–निक्षेप अनुपात ७१.२३ प्रतिशतमा झरेको छ । वाणिज्य बैंकहरूको सीडी रेसियो ७०.०९ प्रतिशत, विकास बैंकको ८३.०८ प्रतिशत र फाइनान्स कम्पनीको ७६.३५ प्रतिशत रहेको छ । कर्जा विस्तार सुस्त हुँदा बैंकहरूसँग ठूलो रकम लगानीयोग्य अवस्थामा रहेको छ । उत्पादनमूलक क्षेत्र, नयाँ परियोजना तथा पूर्वाधारमा कर्जाको माग पर्याप्त नआएपछि बैंकहरूले उपलब्ध रकम विभिन्न वित्तीय उपकरणमा लगानी गरिरहेका छन् । क्षेत्रगत रूपमा हेर्दा बैंक तथा वित्तीय संस्थाबाट प्रवाह भएको कर्जाको ठूलो हिस्सा उपभोग र व्यापार क्षेत्रमा रहेको छ । कुल कर्जामध्ये उपभोग्य कर्जातर्फ १३ खर्ब ४९ अर्ब रुपैयाँ र थोक तथा खुद्रा व्यापार क्षेत्रमा १० खर्ब २३ अर्ब रुपैयाँ कर्जा प्रवाह भएको छ । त्यस्तै, उत्पादनमूलक क्षेत्रमा ९ खर्ब ७७ अर्ब, ऊर्जा क्षेत्रमा ५ खर्ब १८ अर्ब, वित्तीय संस्था, बीमा तथा रियल इस्टेट क्षेत्रमा ४ खर्ब ३९ अर्ब, कृषि तथा वन क्षेत्रमा ३ खर्ब ४६ अर्ब, निर्माण क्षेत्रमा २ खर्ब ७९ अर्ब र पर्यटन क्षेत्रमा २ खर्ब ८२ अर्ब रुपैयाँ कर्जा गएको छ । उत्पादनका आधारमा आवधिक कर्जा २१ खर्ब ८८ अर्ब रुपैयाँ पुगेको छ । व्यक्तिगत आवासीय घरकर्जामा ४ खर्ब ७७ अर्ब, व्यावसायिक रियल इस्टेटमा २ खर्ब ६९ अर्ब, सेयर धितो कर्जामा १ खर्ब ६६ अर्ब, सवारीसाधन कर्जामा १ खर्ब ४३ अर्ब र सुनचाँदी कर्जामा १ खर्ब २८ अर्ब रुपैयाँ लगानी भएको छ । बैंकहरूको कर्जामा घरजग्गा तथा अचल सम्पत्तिको धितोमा आधारित कर्जाको हिस्सा पनि उल्लेख्य रहेको छ । यसैबीच, बैंक तथा वित्तीय संस्थाको खराब कर्जा पनि उच्च विन्दुमा रहेको छ । साउन मसान्तसम्म वित्तीय प्रणालीको निष्क्रिय कर्जा ५.६६ प्रतिशत पुगेको छ । वाणिज्य बैंकहरूको खराब कर्जा ५.५६ प्रतिशत, विकास बैंकहरूको ५.७७ प्रतिशत र फाइनान्स कम्पनीहरूको ९.८९ प्रतिशत रहेको छ । सम्भावित कर्जा जोखिम व्यवस्थापनका लागि कुल कर्जाको ५.८३ प्रतिशत अर्थात् ३ खर्ब ४६ अर्ब ९२ करोड रुपैयाँ ऋण नोक्सानी व्यवस्थामा राखिएको छ । लघुवित्त क्षेत्रमा पनि कर्जा असुलीको समस्या देखिएको छ । साउन मसान्तसम्म समयमै कर्जाको किस्ता नतिर्ने भाखा नाघेका ऋणीको संख्या ७ लाख ३७ हजार ६६४ पुगेको छ । त्यस्तै, निष्क्रिय सदस्यको संख्या १० लाख ८६ हजार २६६ पुगेको छ । देशभरका ५१ लघुवित्त संस्थामा ६५ लाख ४३ हजार सदस्य रहेको अवस्थामा ठूलो संख्यामा सदस्य निष्क्रिय हुनु तथा ऋणीले किस्ता तिर्न नसक्नुले ग्रामीण क्षेत्रमा वित्तीय दबाब रहेको देखाएको छ । अर्कोतर्फ, डिजिटल बैंकिङको प्रयोग भने निरन्तर बढेको छ । साउनसम्म मोबाइल बैंकिङ प्रयोगकर्ताको संख्या ३ करोड ३ लाख १७ हजार ५७५ पुगेको छ । डेबिट कार्ड प्रयोगकर्ता १ करोड ३७ लाख ४८ हजार ९६९, इन्टरनेट बैंकिङ प्रयोगकर्ता २४ लाख ६२ हजार र क्रेडिट कार्ड प्रयोगकर्ता ३ लाख ३४ हजार पुगेका छन् । देशभर एटीएमको संख्या ५ हजार १०८ रहेको छ । बैंक तथा वित्तीय संस्थाका निक्षेप खाताको संख्या ६ करोड ३६ लाख ६६ हजार पुगेको छ भने कर्जा खाता २० लाख ४४ हजार रहेको छ । वित्तीय पहुँचमा भने प्रदेशगत असमानता कायमै रहेको छ । देशभरका क, ख र ग वर्गका बैंक तथा वित्तीय संस्थाका ६ हजार ३४३ शाखामध्ये बागमती प्रदेशमा मात्रै २ हजार १७० शाखा रहेका छन् । यो कुल शाखाको ३४.२ प्रतिशत हो । काठमाडौँमा मात्रै १ हजार ५९ शाखा सञ्चालनमा छन् । कर्णालीमा २४४ र सुदूरपश्चिममा ३९० शाखा रहेका छन् । कर्जा तथा लगानी विस्तारमा सुस्तता रहे पनि ब्याज लागत घट्दा बैंक तथा वित्तीय संस्थाको नाफामा भने सुधार देखिएको छ । चालु आर्थिक वर्षको साउनमा बैंक तथा वित्तीय संस्थाले कुल ९ अर्ब ४९ करोड रुपैयाँ खुद नाफा कमाएका छन् । यसमध्ये वाणिज्य बैंकहरूको नाफा ८ अर्ब ७३ करोड रुपैयाँ रहेको छ । वाणिज्य बैंकमध्ये नबिल बैंकले ८८ करोड ३१ लाख रुपैयाँ, ग्लोबल आइएमई बैंकले ८१ करोड ३६ लाख रुपैयाँ र नेपाल इन्भेष्टमेन्ट मेगा बैंकले ७३ करोड ४४ लाख रुपैयाँ खुद नाफा आर्जन गरेका छन् । विकास बैंकले ७२ करोड ५० लाख, फाइनान्स कम्पनीले २ करोड ९० लाख र लघुवित्त संस्थाले ४६ करोड २० लाख रुपैयाँ खुद नाफा कमाएका छन् । बैंकिङ प्रणालीमा ब्याजदर र लगानीयोग्य रकम सहज भए पनि निजी क्षेत्रको कर्जा माग नबढ्नुले अर्थतन्त्रमा माग र लगानीको समस्या अझै रहेको देखाएको छ । कर्जा विस्तार बढाउन निजी क्षेत्रको लगानी वातावरण, बजार माग, सरकारी खर्च तथा व्यवसायिक गतिविधिमा सुधार आवश्यक देखिन्छ ।
बाढी प्रभावितका लागि राहत कोषमा करिब १५ अर्ब जम्मा
काठमाडौँ — रसुवाको भोटेकोसी नदीमा आएको बाढीबाट प्रभावितका लागि आर्थिक सहयोग जुट्ने क्रम बढ्दै गएको छ। सरकारले सञ्चालन गरेको प्रधानमन्त्री दैवी प्रकोप उद्धार कोष तथा प्रधानमन्त्री राहत कोषमा हालसम्म करिब १५ अर्ब रुपैयाँ जम्मा भएको छ। प्रधानमन्त्री तथा मन्त्रिपरिषद्को कार्यालयका अनुसार कोषमा हाल १४ अर्ब ८८ करोड ९० लाख ३८ हजार ८७१ रुपैयाँ मौज्दात रहेको छ। बाढी प्रभावितको उद्धार, राहत तथा पुनःस्थापनाका लागि विभिन्न क्षेत्रबाट सहयोग रकम जम्मा हुने क्रम जारी रहेको कार्यालयले जनाएको छ। सरकारले कोषमा जम्मा भएको रकममध्ये यसअघि नै बाढी प्रभावित क्षेत्रका लागि एक अर्ब रुपैयाँ निकासा गरिसकेको छ। बाँकी रकम आवश्यकताका आधारमा राहत तथा पुनःस्थापनाका लागि परिचालन गरिनेछ। कार्यालयका अनुसार कोषका विभिन्न नौ वटा वाणिज्य बैंकमा मात्रै ११ अर्ब १४ करोड २० लाख ५० हजार ९४७ रुपैयाँ जम्मा भएको छ। त्यस्तै, हिमालयन बैंक र लक्ष्मी सनराइज बैंकमा रहेको अमेरिकी डलर खातामा २ करोड ४४ लाख ७४ हजार १२१ अमेरिकी डलर जम्मा भएको छ। भोटेकोसी बाढीबाट प्रभावित क्षेत्रको उद्धार, राहत तथा पुनःनिर्माणका लागि स्वदेश तथा विदेशबाट सहयोग आउने क्रम जारी रहेको सरकारले जनाएको छ।
राष्ट्र बैंकद्वारा एकीकृत निर्देशन संशोधन, बैंकको लगानी नीतिमा नयाँ व्यवस्था
काठमाडौं । नेपाल राष्ट्र बैंकले क, ख र ग वर्गका बैंक तथा वित्तीय संस्थाका लागि जारी गरेको एकीकृत निर्देशन, २०८२ मा संशोधन तथा परिमार्जन गरेको छ । बैंक तथा वित्तीय संस्था नियमन विभागले नेपाल राष्ट्र बैंक ऐन, २०५८ को दफा ७९ ले दिएको अधिकार प्रयोग गर्दै नयाँ परिपत्र जारी गरेको हो । नयाँ व्यवस्थाअनुसार वाणिज्य बैंकहरूले आर्थिक वर्ष २०८३/८४ मा कायम गर्नुपर्ने काउन्टरसाइक्लिकल बफर शून्य प्रतिशत निर्धारण गरिएको छ । यसअघि आर्थिक वर्ष २०८२/८३ का लागि पनि यस्तो बफर शून्य प्रतिशत नै कायम गरिएको थियो । राष्ट्र बैंकले बैंक तथा वित्तीय संस्थाको लगानीलाई थप पारदर्शी र व्यवस्थित बनाउन लगानी नीति तथा कार्यविधिमा संशोधन गरेको छ । अब बैंक तथा वित्तीय संस्थाले सरकारी सुरक्षणपत्र, राष्ट्र बैंक ऋणपत्र तथा संगठित संस्थाका शेयर र डिबेञ्चरलगायतका उपकरणमा लगानी गर्नुअघि सट्टेबाजीसम्बन्धी जोखिम न्यूनीकरण गर्ने स्पष्ट नीति बनाउनुपर्नेछ । यस्तो नीति तथा कार्यविधि सञ्चालक समितिबाट स्वीकृत गराएर मात्र लागू गर्नुपर्ने व्यवस्था गरिएको छ । नयाँ निर्देशनअनुसार सर्वसाधारणमा शेयर बिक्री गरी धितोपत्र विनिमय बजारमा सूचीकृत भइसकेका संगठित संस्थाको शेयर तथा डिबेञ्चरमा बैंकहरूले कम्तीमा ४५ दिनभन्दा बढी अवधिका लागि मात्र लगानी गर्न पाउनेछन् । यसअघि यस्तो लगानी कम्तीमा ६ महिनाभन्दा बढी अवधिका लागि मात्र गर्न पाइने व्यवस्था थियो । तर अन्य कुनै व्यवस्था वा प्रबन्धमार्फत अल्पकालीन लगानी गर्न नपाइने नियमलाई भने निरन्तरता दिइएको छ ।
तीन दिनको गिरावटपछि नेप्सेमा सामान्य सुधार
काठमाडौं । बिहीबार नेप्से परिसूचक ०.२६ अंकले बढेर २ हजार ५९९.१५ विन्दुमा पुगेको छ। यस दिन सेन्सेटिभ इन्डेक्स ०.१४ अंक, फ्लोट इन्डेक्स ०.१५ अंक र सेन्सेटिभ फ्लोट इन्डेक्स ०.१२ अंकले बढेका छन्। नेप्सेसँगै कारोबार रकममा पनि सामान्य वृद्धि भएको छ। बुधबार ४ अर्ब ७६ करोड रुपैयाँबराबरको कारोबार भएकोमा बिहीबार ३५३ कम्पनीका १ करोड २० लाख ६५ हजार कित्ता सेयर ५१ हजार ७४५ पटकको कारोबारबाट ४ अर्ब ८९ करोड १८ लाख ७६ हजार रुपैयाँबराबरमा खरिदबिक्री भएको छ। यस दिन सिन्धु विकास बैंकको सेयरमूल्य सर्वाधिक १०.८१ प्रतिशत बढेको छ। कर्पोरेट डेभलपमेन्ट बैंकको सेयरमूल्य करिब साढे ९ प्रतिशत र इमर्जिङ नेपाल लिमिटेडको सेयरमूल्य साढे ७ प्रतिशतभन्दा बढी बढेको छ। यता कारोबारमा आएको सयपत्री हाइड्रोपावरको सेयरमूल्य सर्वाधिक ९.६६ प्रतिशत घटेको छ। कारोबार रकमका आधारमा सिद्धार्थ बैंक शीर्ष स्थानमा रहेको छ। बैंकको ३० करोड ५३ लाख रुपैयाँबराबरको सेयर कारोबार भएको छ। २० प्रतिशत लाभांश वितरण गर्ने घोषणा गरेको बैंकले असोज १६ गते बुक क्लोज गर्दैछ। लाभांश सुरक्षित गर्ने बिहीबार अन्तिम दिन भएकाले बैंकको सेयरमा लगानीकर्ताको आकर्षण देखिएको हो। त्यस्तै, अपि पावर कम्पनीको करिब २३ करोड रुपैयाँ र हाथवे इन्भेस्टमेन्टको करिब २२ करोड रुपैयाँबराबरको सेयर कारोबार भएको छ। १३ उपसमूहमध्ये चार उपसमूहको परिसूचक बढेको छ भने आठ उपसमूहको परिसूचक घटेको छ। बैंकिङ, विकास बैंक, वित्त र जलविद्युत उपसमूहको परिसूचक सामान्य बढेको हो। व्यापार उपसमूहको परिसूचक सर्वाधिक १.०५ प्रतिशत घटेको छ। लगानी उपसमूहको परिसूचक भने स्थिर रहेको छ।
Everest Bank Approves 15% Dividend At it's 32nd AGM
Everest Bank Limited has approved a 5% bonus share and 10% cash dividend, including tax applicable on the bonus shares, for its shareholders. The proposals were approved at the bank’s 32nd Annual General Meeting held on Ashoj 14, 2083. The AGM also endorsed the bank’s annual report for FY 2082/83 along with the auditor’s report. Following the issuance of the proposed bonus shares, the bank’s paid-up capital will increase. Accordingly, the AGM approved a special proposal to amend the bank’s Memorandum and Articles of Association. The AGM also unanimously appointed G.P. Rajbahak & Company as the bank’s auditor for FY 2083/84, with the appointment approved unanimously.
Global IME Capital Approves 25% Dividend at 19th AGM
Global IME Capital Limited has approved a total 25% dividend for its shareholders for the fiscal year 2082/83. The dividend comprises 15% bonus shares and 10% cash dividend. The proposal was approved at the company’s 19th Annual General Meeting held in Kathmandu on Ashwin 14, 2083. The AGM also endorsed the company’s annual report and audited financial statements for FY 2082/83. Speaking at the AGM, Chairman Dipchandra Regmi said the company had been able to distribute returns despite the slowdown in economic activity. Global IME Capital is a subsidiary of Global IME Bank and is Nepal’s first merchant banking company.
Ridge Line Energy Limited Calls 5th AGM On Kartik 17
Ridge Line Energy Limited (RLEL) has called its 5th AGM on 17th Kartik, 2083. The meeting will be held at Kupondole Banquet, Lalitpur, starting at 10:00 AM. These are the agenda items for the AGM: 1) Endorsement of financial reports for the fiscal year 2082/83. 2) Endorsement of the auditor's report with PL statements, financial reports, and cash flow reports. 3) Endorse the appointment of the auditor for the fiscal year 2083/84. 4) To endorse the 10.52% cash dividend (including tax) worth Rs. 12.47 Crores from the paid-up capital. The paid-up capital of the company is Rs. 1.18 Arba. 5) To approve the decision made by the 121st Board of Directors’ meeting regarding the establishment of a subsidiary company. 6) To elect one director representing the public shareholders. 7) To approve the expenditure incurred under Corporate Social Responsibility (CSR) during FY 2082/83. 8) To approve the meaningful transaction and the expenses incurred in connection with it. 9) To approve the corporate guarantee provided to Rastriya Banijya Bank Limited for the loan/credit facility of Doodhpokhari Chepe Hydropower Limited. 10) To approve the transfer or sale of the electricity generation survey license of the Maiwa Khola Hydropower Project (12.504 MW). AGM Notice:
Reminder! Last Trading Day to Secure Dividend of Four Companies
Today is the last day to grab the dividend proposed by Sanima Middle Tamor Hydropower Limited (TAMOR). The company has called its 11th AGM on Ashwin 30, 2083. The meeting will be held at Kundalini Durbar Banquet, Ka.Ma.Na.Pa-04, Chandole, Kathmandu, starting from 11:00 AM that day. The board of directors meeting on Ashwin 07 has proposed a 5.263% dividend for the fiscal year 2082/83. A 5.263% cash dividend (including tax) has been proposed. The company's existing paid-up capital is Rs. 3.33 Arba. The company has declared the book closure for dividends and the AGM on Ashwin 19. Thus, investors maintained before Ashwin 16 are entitled to the dividend and can also attend the AGM. Similarly, Today is the last day to grab the dividend proposed by Bikash Hydropower Company Limited (BHCL). The company has called its 5th Ashwin AGM on 29th Ashwin, 2083. The meeting will be held in the Hotel Smart Durbar Pvt. Ltd, Dhumbarahi, Kathmandu starting at 9:30 am that day. Among the other agendas, the AGM will endorse a 10.5263% dividend for the fiscal year 2082/83. The company has proposed a 10% bonus shares worth Rs. 2.41 crores and a 0.5263% cash dividend (for tax purposes) worth Rs. 47,84,600.14 for the fiscal year 2082/83. The company's existing paid-up capital is Rs. 90.91 Crores. Furthermore, an agenda is to endorse the auditor's report with PL statements, financial reports, and cash flow reports, and appoint an auditor for the fiscal year 2083/84. The company has declared the book closure for dividends and the AGM on Ashwin 19. Thus, investors maintained before Ashwin 16 are entitled to the dividend and can also attend the AGM. Also, Today is the last day to grab the dividend proposed by Kumari Bank Limited (KBL). The bank’s Board of Directors meeting held on Bhadra 30 decided to distribute a 2.1053% cash dividend, including tax, based on the bank’s paid-up capital. The company currently has a paid-up capital of Rs. 26.22 arba. The book closure date is Ashwin 19. Thus, shareholders who held their shares before that date are entitled to the dividend payout and can also attend the AGM. And, Today is the last day to grab the dividend proposed by Citizens Bank International Limited (CZBIL). The company has called its 20th AGM on 28th Ashwin, 2083. The meeting will be held at the Amritbhog, Kalikasthan, Dillibazar, Kathmandu, starting at 11:00 a.m. that day. Among the other agendas, the AGM will endorse a 4% dividend for the fiscal year 2082/83. The 521st meeting of the board of directors held on Bhadra 31 has decided to distribute 3.80% bonus share worth Rs. 58.92 crores and a 0.20% cash dividend worth Rs. 3.10 crores, including tax, based on the bank’s paid-up capital. The company currently has a paid-up capital of Rs. 15.50 arba. Furthermore, there is an agenda to endorse the auditor's report with PL statements, financial reports, and cash flow reports for FY 2082/83 and appoint an auditor for the fiscal year 2083/84. Ashwin 19 is the book closure date. Thus, shareholders who maintained that day are entitled to the dividend payout and can also attend the AGM.
Cheap Money, Costly Mistakes: What Nepal's Liquidity Surplus Really Means for Your Portfolio
Walk into any commercial bank branch in Kathmandu today and ask for a one-year fixed deposit rate. The best you'll hear, even from the most competitive banks like Nabil or Prabhu, is around 4.55 percent. A normal savings account? Barely 2.9 percent. The story: Nepal is sitting on a mountain of cash that doesn't know where to go, and the stock market is absorbing more of it than most investors realize. Nepal Rastra Bank's policy repo rate sits at 4.25 percent, with the credit-to-deposit ratio at roughly 74 percent against a regulatory ceiling of 90 percent. That gap is not a technicality it means banks have room to lend far more than they currently do. But demand for loans simply isn't showing up fast enough to absorb the deposits flooding in. The result is an average lending rate of just 7 percent and a deposit rate near 3.5 percent, one of the thinnest spreads Nepali savers have seen in years. When fixed deposits barely beat inflation, rational money migrates. Some of it goes into real estate. A growing share is going into shares. This is not new in Nepal's market history the 2020-21 retail boom followed the same script but the current version is quieter, more sector-selective, and arguably more dangerous for undisciplined investors because it is unfolding alongside real earnings uncertainty in specific sectors. Hydropower remains NEPSE's most emotionally traded sector. On a recent session, a textbook sign of a sector being traded on sentiment and monsoon-season news flow rather than fundamentals. Nepal's installed hydropower capacity keeps climbing, and new IPOs from hydro companies continue to draw oversubscription, but the gap between a project's actual power purchase agreement economics and its market price during hype cycles remains wide. Investors buying hydropower counters purely because "everyone else is" are effectively making a leveraged bet on retail sentiment, not on electricity tariffs. While hydropower gets the headlines, non-life insurance stocks have quietly been the session's biggest losers, dragging the index down and pushing some counters into negative circuits. This matters because insurance had been a relatively "boring," fundamentals-driven sector for years. A sharp, broad selloff there rather than in a single overheated counter is often a signal that profit-booking or a shift in regulatory or reinsurance cost expectations is underway across the whole sub-sector, not just one company's bad quarter. Investors holding insurance shares purely for dividend yield should check whether the underlying combined ratios and premium growth still justify the price, rather than assuming the dip is automatically a buying opportunity. Here's the less exciting but more useful takeaway: Nepal Rastra Bank's own FDI survey shows foreign direct investment stock crossing Rs. 340 billion as of the last fiscal year a reminder that patient, long-horizon capital is still being deployed into the real economy. That is a very different signal from day-to-day NEPSE volatility. For retail investors, the lesson isn't to chase whichever sector had the best week. It's to recognize that Nepal's economy is currently defined by high liquidity and slow real-sector growth. A combination that historically rewards patient equity holders in fundamentally sound banks, hydropower producers with signed PPAs and low debt-servicing risk, and manufacturing companies with pricing power, far more than it rewards those chasing circuit-breaker stocks. Three Practical Takeaways for This Market Nepal's stock market isn't expensive by historical standards, and it isn't irrational either. But it is being pushed by a liquidity story as much as an earnings story right now. Investors who understand which of their holdings are riding cheap money and which are standing on real, contracted cash flows will be far better positioned when the tide eventually turns. Article By: Ankit Neupane (MBA-FC Student, School of Management, TU)
Three Foreign Joint-Venture Banks in Nepal (EBL vs SBI vs SCB): A Comparative Financial Performance Review (Q4 2069/70 - Q4 2082/83)
Currently, three commercial banks are operating under joint ventures with foreign banks or institutions, and all three have been operating with foreign partners since their establishment. These three banks are Everest Bank Limited (EBL), Nepal SBI Bank Limited (SBI), and Standard Chartered Bank Nepal Limited (SCB). Here is the status of these banks with their shareholding details. These banks are considered healthier and more efficient and operate according to international practices while complying with the rules and regulations of the country in which they operate. Here, we will evaluate how these banks performed over the last fourteen years at the fourth quarter (Q4 2069/70 to Q4 2082/83). Balance Sheet (Major Indicators) Assets 1. Cash and Cash Equivalents Looking at cash and cash equivalents, SCB has held the highest level of cash and cash equivalents since Q4 2075/76. In Q4 2082/83, SCB reached its highest level of cash holdings at Rs. 56.18 billion, which led to its CD ratio falling to 47.26%. The cash position of SBI sharply increased in the last year, Q4 2082/83, from Rs. 5.14 billion to Rs. 32.33 billion, an increase of 528% compared to Q4 2081/82. This was because of excess liquidity in the market and a contraction in loan demand. Meanwhile, EBL has been able to maintain its cash position at around Rs. 10 billion, which is not significantly different from previous years. This shows balanced business strategy, while its deposit growth has also been remarkable. 2. Loans and Advances to Customers Loans and advances to customers are a core business of banks. Among the compared banks, EBL has the highest loan portfolio to customers. As of Q4 2082/83, EBL had provided loans to customers amounting to Rs. 235.56 billion, followed by SBI with Rs. 146.07 billion. Meanwhile, SCB hasn't focused on loan expansion, with Rs. 66.03 billion in its loan portfolio. The trend of loans to customers for EBL and SBI is increasing, and both reached their highest levels during the recent review period. Meanwhile, SCB peaked in Q4 2078/79, with loans to customers amounting to Rs. 79.17 billion and afterward did not appear to reach this level again, as SCB has been holding more cash and cash equivalents. 3. Total Assets Looking at the base year taken for this study (Q4 2069/70), the total assets of EBL, SBI, and SCB were Rs. 66.54 billion, Rs. 64.79 billion, and Rs. 45.94 billion, respectively, representing relatively same range of asset sizes among the banks. After 14 years, EBL had assets of Rs. 383.75 billion, SBI have assets of Rs. 248.35 billion, and SCB stood at Rs. 180.06 billion. Compared with the base year, EBL increased its assets by 5.76 times, SBI by 3.83 times, and SCB by 3.91 times. Another positive aspect of these banks is the trend in total assets. The total assets of all three banks have been increasing over the period, indicating that the banks have continuously expanded and are becoming larger asset-based institutions. Liabilities 1. Deposits from Customers One of the core businesses of a bank is collecting deposits from customers. Deposits are also a major liability of banks. Looking at the deposit collection of these three banks, as of Q4 2069/70, deposits from customers of EBL, SBI, and SCB were Rs. 57.72 billion, Rs. 58.92 billion, and Rs. 39.46 billion, respectively. In Q4 2082/83, deposits from customers of EBL, SBI, and SCB reached Rs. 316.01 billion, Rs. 212.82 billion, and Rs. 147.68 billion, respectively. Over the 14-year review period, EBL increased its deposits by 5.47 times, SBI by 3.61 times, and SCB by 3.71 times. Deposits from customers of all three banks are on an increasing trend. All of them achieved historically high levels of deposits. 2. Total Liabilities (Excluding Equity) Looking at total liabilities, in the base year of the study, Q4 2069/70, EBL and SBI had similar amounts of total liabilities, amounting to Rs. 60.90 billion and Rs. 60.82 billion, respectively. At that time, SCB's total liabilities were Rs. 40.58 billion. Over the period, EBL, SBI, and SCB increased their total liabilities by 5.72 times, 3.73 times, and 3.87 times, respectively, reaching Rs. 348.56 billion, Rs. 226.28 billion, and Rs. 157.38 billion. This shows a steadily increasing trend. 3. Share Capital and Total Equity As of Q4 2082/83, the paid-up capital of EBL, SBI, and SCB stood at Rs. 13.72 billion, Rs. 11.33 billion, and Rs. 10.04 billion, respectively. As of Q4 2082/83, the total equity of EBL, SBI, and SCB stood at Rs. 35.19 billion, Rs. 22.07 billion, and Rs. 22.67 billion, respectively. The total equity of EBL, SBI, and SCB increased by 6.24 times, 5.55 times, and 4.23 times, respectively, during the review period. Profit and Loss 1. Interest Income Interest income is impacted by increased competition in the market as well as policy measures taken to stabilize interest rates by NRB. As of Q4 2069/70, the interest income-to-expense margin for EBL, SBI, and SCB was 44%, 61%, and 24%, respectively. Now, it has increased to 54%, 63%, and 46%, respectively. Currently, the interest earnings of these banks are as follows. Interest income is observed to be on a declining trend. 2. Net Interest Income Based on Q4 2082/83, EBL earned the highest net interest income. SBI followed EBL with a wider gap, while SCB remained on its own pace. Over the overall period, EBL has been on an increasing trend and has achieved higher levels of net interest income. SCB, meanwhile, appears to be on a declining trend. 3. Total Operating Income The total operating income of the three commercial banks, EBL, SBI, and SCB, from Q4 2069/70 to Q4 2079/80 shows a similar trend in earnings. All these banks showed similar trends in total operating income. Afterward, EBL continued to grow, while the total income of SBI and SCB declined. 4. Profit for the Period The profit for the period of the three commercial banks, EBL, SBI, and SCB, from Q4 2069/70 to Q4 2079/80 shows a similar trend in earnings. All these banks showed similar trends in profit for the period. Afterward, EBL continued to grow, while the profit of SBI and SCB declined. Trends in Key Performance Indicators Earnings Metrics 1. Basic Earnings per Share (EPS) EBL recorded the highest EPS among the three banks during most of the review period, but declined from Rs. 83.53 in Q4 2069/70 to Rs. 36.95 in Q4 2082/83. SBI's EPS fell from Rs. 32.94 to Rs. 9.26, while SCB declined from Rs. 65.70 to Rs. 12.57. All three banks experienced a significant decline in per-share earnings over the long term, despite some recovery in the later years. 2. Net Worth per Share EBL's net worth per share declined from Rs. 342.06 to Rs. 256.47 over the review period, with considerable fluctuations in between. SBI increased from Rs. 168.67 to Rs. 194.73, while SCB declined from Rs. 289.07 to Rs. 225.77. The figures show different trends in shareholders' equity across the three banks. Efficiency Measures 3. Return on Equity (ROE) EBL's ROE declined from 26.10% to 14.41%, despite recovering from its low of 8.84%. SBI's ROE fell from 22.13% to 9.26%, while SCB declined from 22.73% to 12.57%. Overall, ROE remained lower in the later years than at the beginning of the review period. 4. Return on Assets (ROA) EBL's ROA decreased from 2.21% to 1.32%, while SBI declined from 1.27% to 0.82%. SCB also declined from 2.65% to 1.58%, despite recording higher ROA in several earlier years. Overall, the three banks experienced weaker asset profitability compared with the beginning of the review period. 4. Total Dividend EBL's dividend declined from 60.53% to 20%, despite reaching a peak of 73.675% in Q4 2072/73. SBI's dividend decreased from 20% to 9%, while SCB declined from 50% to 19% after reaching a peak of 105.26%. Overall, dividend distribution was considerably lower in the later years compared with the earlier period. Data Source: The data used in this article has been obtained from SS Pro by ShareSansar.
Does Dividend Matter for Value Investors?
Our financial year 2082/83 has ended, and the new financial year has started. Most of the companies have already published their fourth quarterly financial reports. Based on their reports, investors are calculating how much dividend they are expecting. The good news is that some companies have already declared dividends and fixed the date of annual general meetings. Dividends are always hot topics among our fellow investors. I ask myself if it is true that paying dividends really creates value to shareholders. One of the important questions for the investor is not only whether a company pays a dividend, but also what it can do with the money it retains. For many investors, dividends have been one of the important indicators of shareholders' reward and compensation for their capital investment. A company earns a profit, distributes part of it, and shareholders receive cash or stock dividends or both. Stock dividends, which are popularly known as Bonus Shares, are very popular in our country; on the contrary, it is becoming rarer, and companies are preferring dividend reinvestment plans (DPR) in developed economies. I am writing this article considering the cash dividend as the central theme, as a stock dividend is only the transfer of net profit and retained earnings into paid-up capital with an additional number of outstanding shares. A dividend is one way for a company to return capital to shareholders. It is not a measure of whether a business is creating value. A company that pays no dividend can still create enormous wealth for shareholders and, in some cases, retaining earnings can be the more rational choice. The real question is what management can do with the profit the business earns. That question leads to a broader issue at the heart of long-term investing: Should a company distribute its profits, or should it retain them? The attraction of dividends There are good reasons investors prefer dividends. A reliable dividend can provide a visible stream of cash and may indicate that a company has established recurring cash flows. A long history of maintaining or increasing dividends can also give investors’ confidence that management is thinking seriously about capital allocation. For retirees and income-focused individuals, as well as Institutional Investors such as pension funds, have obvious appeal for the dividends. Receiving cash without selling shares can be particularly useful. Dividends can also form a meaningful part of an investor's total return over time. When a company pays a dividend, cash leaves the company. Around the ex-dividend date, the share price generally adjusts to reflect that distribution, although the actual market move can be obscured by normal price fluctuations. In other words, the company has not magically created value simply by moving money from its balance sheet to a shareholder's bank account. The more important question is what happens before that distribution. The money a company keeps Consider a company that earns Rs.100 million and decides not to distribute it. At first glance, some investors may conclude that shareholders have received nothing. But that is not necessarily true. Suppose management can reinvest the full Rs.100 million into the business and earn a 20% return on the additional capital. That investment could generate another Rs.20 million in annual profit. If management can repeat the process, the retained earnings become productive capital. This is where compounding begins. A company does not create value simply because it retains cash. It creates value when it can convert retained earnings into future profits and cash flows at attractive rates of return. That distinction matters enormously If a business earns high returns on capital and has a long runway for reinvestment, distribution of profit may actually limit its ability to compound. By contrast, if management has few attractive investment opportunities, keeping the money can become a problem. The quality of capital allocation therefore matters more than the existence of a dividend. What Warren Buffett's approach teaches. This is one reason Warren Buffett's approach to capital allocation is so useful. A company retaining 90% of its earnings is not necessarily better than one distributing 60%. Retention only creates value when the retained capital is used productively. Imagine two companies, each earning Rs.100 million. Company A retains the entire Rs.100 million and earns 20% on the additional capital. Company B also retains the entire Rs. 100 million, but can earn only 5% less than the inflation rate. Both are retaining their profits. Economically, they are very different businesses. Company A has a powerful compounding engine. Company B may eventually be accumulating cash without generating any return on it. At some point, Company B's management should probably consider dividends, acquisitions, or other ways of returning capital to owners. This is why return on invested capital, return on equity, free cash flow, and reinvestment opportunities can be more revealing than dividend yield alone. Dividends versus reinvestment The choice can be thought of as a capital-allocation decision. When a company generates Rs.100 of profit, management has several possible ways to use it. It can reinvest in the existing business. It can acquire another business. It can repurchase shares. It can reduce debt. Or it can pay a dividend. None of these choices is superior or inferior. The right decision depends on the return the company can generate from each alternative. Suppose management believes it can invest Rs.100 in the existing business and eventually create Rs. 20 or 30 or more of value. Giving that Rs. 100 to shareholders immediately may not be the best outcome. But suppose the company has reached maturity. Its market is saturated, expansion opportunities are limited, and new investments are producing only modest returns. In that situation, shareholders may be better served if management distributes the excess cash rather than pursuing growth for its own sake. That is the difference between retaining earnings and creating value with retained earnings. The danger of the dividend obsession Dividend-focused investing can sometimes encourage investors to look at the wrong number. A stock with a 7% dividend yield may appear more attractive than a company that pays no dividend. But what if the 7% dividend comes from a mature business with declining earnings, while the non-dividend-paying company can reinvest every dollar at 20% for the next decade? The second company may ultimately create much greater shareholder wealth. A high dividend yield can even become a warning sign when it reflects a falling share price rather than a growing distribution. Once, I fell into such a high-yield dividend trap, and it took me more than 2 years to recover from it. Conversely, a low dividend yield or no dividend at all can be perfectly rational when a company has highly productive uses for its capital. The dividend is therefore only one part of the investment equation. What about investors who need income? The argument for retained earnings does not mean dividends are unimportant. For investors who depend on portfolio income, dividends can be valuable. Receiving cash may be preferable to selling shares at an inconvenient time. But from an economic perspective, investors should distinguish between income preference and value creation. A shareholder who needs annual cash flow can receive it through dividends or, depending on circumstances, by selling a portion of a portfolio. What matters for long-term wealth is the total economic return of the investment, not simply whether the return arrived as a dividend. Capital should be allocated where it can generate the greatest value after considering risk, opportunity, and taxes. How much cash does the business generate? How much of that cash does management retain? What return does the company earn on the capital it retains? If attractive opportunities disappear, is management willing to return excess capital to shareholders? These questions tell us much more about the quality of a business than dividend yield alone. Conclusion The most important lesson, in my view, is that shareholders do not necessarily become richer because a company pays them cash. They become richer when the economic value of their ownership increases. It can happen through share repurchases made at sensible prices. It can also happen through retained earnings reinvested at high returns and compounded over many years. But sometimes the money a company doesn't pay today is the money that creates the greatest value tomorrow. That is particularly true when management has both the skill and the opportunity to reinvest capital at attractive rates for a long period. The question the investor should ask before buying a dividend stock. A dividend is not the key factor for investment. It is one possible route by which capital moves from a business to its owners. More than dividend value, investors should care about the ideal allocation of earnings, which enhances shareholders' value in future. Article By: Rajesh Adhikari