Kathmandu. Various microfinance institutions have made public their financial statements for the last fiscal year 2077/78. The profits of most of the microfinance institutions that have made their financial statements public have increased significantly. So far, 32 companies have released their financial statements for the fourth quarter of last year. According to the NRB, there are 70 microfinance institutions in operation but some institutions are yet to make them public.
According to the statistics of 32 microfinance institutions, the net profit of most microfinance institutions has increased while only one has declined. RMDC Microfinance's net profit declined by 18.68 percent while all other net profits increased.
The Corona epidemic has also boosted microfinance profits. While the Corona epidemic has crippled the economy, microfinance profits have risen sharply. Basanta Lamsal, president of the Nepal Microfinance Bankers' Association, said that the profit of microfinance has increased due to the payment of interest on the remaining loan last year. Chairman Lamsal said, "Last year's loan interest was due to be paid. The remaining interest to be paid last year was due to the increase in profits.
