Kathmandu. Mahalaxmi Bikas Bank has succeeded in becoming the development bank with the lowest cost of funds (Riyakat or Ngalam) according to the financial statements till the end of the third quarter of the fiscal year 2081/82.
According to the financial statements published by the bank, the cost of funds percentage till mid-Chaitra of the fiscal year 2081/82 is 5.04 percent. In the same period of the last fiscal year, the bank’s cost of funds percentage was 7.62 percent.
The reduction in the cost of funds percentage has also had a positive impact on the base rate, according to which the bank’s base rate till mid-Chaitra is 7.14 percent, which is lower than most banks. The bank has stated that the borrowers can benefit from the lower base rate of the bank, as the interest rate on the loan taken by the borrower will also be lower.
Similarly, compared to the minimum capital fund prescribed by Nepal Rastra Bank, the minimum capital fund of Mahalaxmi Bikas Bank is 15.75 percent as of mid-Chaitra of the fiscal year 2081/82, which was 12.75 percent in mid-Chaitra of the fiscal year 2080/81.
When the minimum capital fund is high, it is easier for banks to manage risk. Thus, the bank is capital-strong and there is no shortage of capital to expand its business in the coming days.
Recently, in line with the bank’s policy of providing customers with cutting-edge, secure and easy digital banking facilities, the bank has refined its mobile application and launched ‘Mahalakshmi Smart Sathi’. The bank has also stated that the bank will continue to make its financial services more technology-friendly in the coming days.
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