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Non-performing Loans surpass Nu 8bn, trade and commerce sector leads

December 24, 2024
in Economy, Other Stories
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Non-performing loans or NPLs with the financial institutions surged to a staggering more than Nu 8bn by October this year. This is a jump of over Nu 1.16bn in just a year. Of the sectors, trade & commerce tops the list while the forestry and logging sector saw a sharp decline. Any loans that are overdue by 91 days or more are considered NPLs.

The data from the Royal Monetary Authority’s monthly statistical bulletin for this month highlights sector-wise NPL distribution, revealing persistent financial stress across multiple industries.

Non-performing loans soared significantly by October this year, marking a major increase from Nu 7.48bn in October last year.

The largest contributor to NPLs is the Trade and Commerce Sector.

The sector’s overdue loans grew from Nu 1.52bn in October last year to Nu 1.59bn in October this year.

NPLs in the housing sector, another major contributor, increased from Nu 1.39bn to Nu 1.48bn during the same period, reflecting strain in real estate and residential financing.

Borrowers of personal loans exhibited growing repayment difficulties, with NPL escalating from more than Nu 360 M to nearly Nu 469 M. When comparing the growth rates of Non-Performing Loans across all sectors, the percentage increase in NPLs for personal loans is the highest.

Meanwhile, the Forestry and Logging sector saw a sharp decline in NPLs, dropping from around Nu 130 M to just around Nu 7 M in one year.

Samten Dolkar

Edited by Phub Gyem

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