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आधिकारिक सूचनाOfficial AnnouncementFinancial Analysis
13 Aug, 2026
सिवाईसी नेपाल लघुवित्त वित्तीय संस्थाको आ.व. २०८२/८३ को चौथो त्रैमासिक प्रतिवेदन

सिवाईसी नेपाल लघुवित्त वित्तीय संस्थाको आ.व. २०८२/८३ को चौथो त्रैमासिक प्रतिवेदनCYC Nepal Laghubitta: Q4 Financial Report FY 2082/83

वर्ग:Category:
Financial Analysis
प्रकाशित मिति:Published:
Published on August 13, 2026

Condensed Statement of Financial Position

As on Quarter ended 32nd Ashar, 2083 (16th July, 2026)

Amount in "000"

Particulars This Quarter Ending Immediate Previous Year Ending (Audited)
Assets
Cash and Cash Equivalent378,888.01564,992.90
Statutory Balances and Due from Nepal Rastra Bank30,529.7928,529.79
Placement with bank & financial institutions--
Derivative Financial Instruments--
Other Trading Assets--
Loan and Advances to MFIs & Cooperatives--
Loan and Advances to Customers6,474,046.276,050,776.12
Investment Securities--
Current Tax Assets63,587.4442,734.52
Investment Property--
Property and Equipment27,220.6235,843.17
Goodwill and Intangible Assets467.47929.18
Deferred Tax assets114,837.41114,837.41
Other Assets176,438.0367,420.30
Total Assets7,266,015.036,906,063.40
Liabilities
Due to Bank and Financial Institutions--
Due to Nepal Rastra Bank--
Derivative Financial Instruments--
Deposits from Customers2,984,045.842,763,974.03
Borrowings2,769,236.553,101,853.80
Current Tax Liabilities126,348.0946,840.26
Provisions--
Deferred tax liabilities--
Other Liabilities433,252.16449,068.85
Subordinated Liabilities--
Total Liabilities6,312,882.646,361,736.94
Equity
Share Capital266,424.39266,424.39
Share Premium--
Retained Earnings48,604.69(179,874.77)
Reserves638,103.30457,776.84
Total Equity953,132.38544,326.46
Total Liabilites and Equity7,266,015.036,906,063.40

Condensed Statement of Profit & Loss

For the Quarter ended 32nd Ashar, 2083 (16th July, 2026)

Particulars 2083 Ashar End This Quarter Upto This Quarter (YTD) 2082 Ashar End Corresponding This Quarter Upto This Quarter (YTD) (Audited)

Details about the distributable profit Amount in "000"

Net Profit for the period ended Third Quarter of the FY 2082/83 294,812.21

1. Appropriations :

1.1 Profit required to be appropriated to : 66,332.75

a. General reserve 58,962.44

b. Capital Redemption Reserve -

c. Foreign exchange fluctuation fund -

d. Corporate social responsibility fund 2,948.12

e. Employees training fund -

f. Client Protection Fund 4,422.18

g. Other -

1.2 Profit required to be transferred to Regulatory Reserve: -

a. Transferred to Regulatory Reserve -

b. Transferred from Regulatory Reserve -

Net Profit for the period Third Quarter of the FY 2082/83 available for distribution 228,479.46

Notes :

1. The interim financial statements have been prepared in accordance with Nepal Financial Reporting Standard (NFRS) and certain Carveout issued by the ICAN.These figures may vary with the audited figures as per as instructed by external auditors and regulators.

2. The detailed interim financial report has been published in our website :www.cycnlblsl.org.np

3. Loans and Advances are presented net of impairment charges & includes staff loans.

4. Actuarial Valuation has not been done for Employee Benefits in this quarter.

5. Employee bonus provision also include on personal expenses.

6. Previous figures are regrouped/rearranged/restated wherever necessary for consistent presentation and comparison.

धितोपत्र दर्ता तथा निष्काशन नियमावली २०७३ को अनुसूची १४

(नियम २६ को उपनियम १ सँग सम्बन्धित)

आ.ब. २०८२/८३ को चौथो त्रैमासिक प्रतिवेदन

१. वित्तीय विवरण

क) त्रैमासिक अवधिको वासलात तथा नाफा/नोक्सान सम्बन्धी विवरण :

चालु आ.ब. २०८२/८३ को चौथो त्रैमासिकको अपरिष्कृत वित्तीय विवरण यसै साथ प्रकाशित गरिएको छ ।

ख) प्रमुख वित्तीय अनुपातहरू :-

प्रति शेयर आम्दानी(वार्षिकीकरण गर्दा) रु ११०।६६ मूल्य आम्दानी अनुपात १२।००

प्रति शेयर नेटवर्थ ३५७।७५ तरलता अनुपात १५।०३

प्रति शेयर कुल सम्पत्तिको मूल्य रु २७२७।२३

२. व्यवस्थापकीय विश्लेषण

क) त्रैमासिक अवधिमा संस्थाको मौज्दात, आम्दानी र तरलता कुनै परिवर्तन भए सो को प्रमुख कारण सम्बन्धी विवरण :

चौथो त्रैमासिकमा वित्तीय संस्थाको मौज्दात, आम्दानी र तरलता समयनानुकुल हुने सामान्य परिवर्तन बाहेक अन्य कुनै तात्विक परिवर्तन भएको छैन । समीक्षा अवधिमा वित्तीय संस्थाको मौज्दात र तरलता सन्तोषजनक रहेको व्यवस्थापनको धारणा रहेको छ ।

ख) आगामी अवधिको व्यावसायिक योजना सम्बन्धमा व्यवस्थापनको विश्लेषणात्मक विवरण : “बेरोजगारसँग रोजगार, उत्पादनसँग बजार र आर्थिक अभावसँग सिवाईसी लघुवित्त” भन्ने मुलभावका साथ नेपाल राष्ट्र बैंकबाट राष्ट्रियस्तरको कार्यक्षेत्र विस्तार गर्न स्वीकृती प्राप्त यस वित्तीय संस्थाले ७७ जिल्लामा १२४ वटा शाखा

Interest Income257,298.73869,494.13294,191.09920,341.06
Interest Expenses104,145.24414,330.34105,695.29439,636.10
Net Interest Income153,153.49455,163.78188,495.80480,704.96
Fee and Commission Income24,430.8577,231.5326,854.5069,271.36
Fee and Commission Expenses--610.02616.36
Net Fee and Commission Expenses24,430.8577,231.5326,244.4868,655.00
Net Interest Income,Fee and commission Income177,584.34532,395.31214,740.28549,359.96
Net trading income----
Other Operating income----
Total Operating Income177,584.34532,395.31214,740.28549,359.96
Impairment Charge/(Reversal) for loans and other losses(297,207.93)(259,147.30)342,096.10360,002.60
Net Operating Income474,792.27791,542.61(127,355.82)189,357.36
Operating Expenses132,666.26380,494.7582,432.50322,876.12
Personal Expenses105,140.56285,067.8762,877.04238,088.76
Other Operating Expenses24,935.1785,614.891,352.3360,620.88
Depreciation and Amortization2,590.529,811.9918,203.1424,166.48
Operating Profit342,126.02411,047.87(209,788.32)(133,518.76)
Non-Operating Income2,704.3810,112.431,542.405,076.07
Non-Operating Expenses----
Profit Before Income Tax344,830.39421,160.30(208,245.92)(128,442.69)
Income Tax Expenses103,449.12126,348.09(62,316.59)(38,375.62)
Current Tax103,449.12126,348.0922,899.3046,840.26
Deferred Tax--(85,215.89)(85,215.89)
Profit/loss for the Period241,381.27294,812.21(145,929.33)(90,067.07)

Condensed Statement of Comprehensive income

Particulars 2083 Ashar End 2082 Ashar End Corresponding

This Quarter Upto This Quarter (YTD) This Quarter Upto This Quarter (YTD) (Audited)

Profit or loss for the period241,381.27294,812.21(145,929.33)(90,067.07)
Other Comprehensive Income----
Total Comprehensive Income241,381.27294,812.21(145,929.33)(90,067.07)
Basic earning per share-110.66-(33.81)
Diluted earning per share-110.66-(33.81)
Profit for the period241,381.27294,812.21(145,929.33)(90,067.07)

Ratios as per NRB Directives

Particulars 2083 Ashar End 2082 Ashar End Corresponding

This Quarter Upto This Quarter (YTD) This Quarter Upto This Quarter (YTD) (Audited)

Capital Fund to RWA--
Non-Performing Loan(NPL) to total loan--
Total Loan Loss Provision to Total NPL--
Cost of Funds--
Credit to Deposit & Borrowing Ratio-112.53-103.15
Base Rate--
Interest Spread Rate--

* Interest Rate on Loan and Advances : 9% to 15% & Deposits : 7.5% to 13.30%

कार्यालयहरूमार्फत वित्तीय सेवा प्रदान गर्दै आएको छ। यस त्रैमासको अन्त्यसम्ममा संस्थाले कुल १,२६,३२७ जना विपन्न वर्गका सदस्यहरूको घर परिवारमा लघुवित्त सेवा प्रदान गरेको छ। आफ्नो स्रोत र साधनको अधिकतम परिचालन गरी दिगो रूपमा लघुवित्त सेवा सञ्चालन गर्ने सोच राखेको छ।

वित्तीय संस्थाले शाखा कार्यालयहरू मार्फत वित्तीय साक्षरता कार्यक्रम सञ्चालन गर्दै आएको छ।

वित्तीय कारोबारलाई पारदर्शिता प्रदान गर्न ग्राहकहरू स्वयंमले आफ्नो मोबाईलमार्फत कारोबार चेक जाँच गर्न मिल्ने गरी "CYC MFI Smart APP" सेवा सुचारु गरिएको छ।

कर्मचारीहरूको दक्षता अभिवृद्धि गरी कार्यकुशलतामा अभिवृद्धि गर्न, उत्पादकत्वलाई थप प्रभावकारी रुपमा संचालन गर्न कर्मचारीहरूलाई आवश्यक पर्ने तालिम तथा सेमिनारमा संलग्न गराई क्षमता अभिवृद्धि गरी सन्तुष्ट सदस्य नै संस्थाको दिगो विज्ञापनको आधारलाई कार्यान्वयन गरिनेछ। साथै, आगामी दिनहरूमा वित्तीय कारोबारलाई कर्जा, बचत र रेमिटान्स सुविधाहरूमा मात्र सीमित नगरी समयानुकूल ग्राहकको बदलिदो चाहनालाई दृष्टिगत गरी संस्थाले उपलब्ध गराउँदै आएको सेवा सुविधाहरूमा थप परिस्कृत गर्दै लैजान व्यवस्थापन सदैव प्रतिबद्ध रहेको छ।

ग) विगतको अनुभवबाट संगठित संस्थाको नाफा नगद प्रवाहमा तात्त्विक असर पार्न सक्ने घट्ना अवस्था आदि भएमा सो सम्बन्धी विश्लेषणात्मक समीक्षा: समीक्षा अवधिमा वित्तीय संस्थाले आवश्यक लगानी योग्य रकमको व्यवस्थापन सहज रुपमा गरेको छ। हाल बजारमा देखिएको लघुवित्त संस्थाहरू बिच रहेको दोहोरोपना, अस्वस्थ प्रतिस्पर्धा, लघुवित्त संस्थाहरु विरुद्ध संचालित अभियान लगायत बाह्य वातावरणका कारण ग्राहकहरूमा कर्जाको किस्ता भुक्तानीमा भएको ढिलासुस्ती जस्ता समस्याहरूको कारण चालु आ.व. २०८२/८३ को चौथो त्रैमासको नगद प्रवाह, बैंक मौज्दात लगायत नाफा/नोक्सानमा प्रत्यक्ष असर गरेको छ। यद्यपि कर्जा जोखिम,तरलता व्यवस्थापन लगायतका अन्य विविध जोखिमहरू व्यवस्थापन गर्न व्यवस्थापन कटिबद्ध रहेको छ।

३. कानुनी कारवाही सम्बन्धी विवरण :

क) यस त्रैमासिक अवधिमा संगठित संस्थाले कुनै मुद्दा दायर नगरेको तथा विगतमा कर्मचारी विरुद्ध दायर गरिएका मुद्दाहरू अदालतमा विचारधिन अवस्थामा रहेका र संस्थाको विरुद्ध हाल सम्म कुनै मुद्दा दायर भएको सूचना प्राप्त नभएको।

ख) यस संस्थाको संस्थापक/संचालकले वा संस्थापक/संचालकको विरुद्धमा प्रचलित नियमको अवज्ञा वा फौजदारी अपराध गरेको सम्बन्धमा कुनै मुद्दा दायर गरेको वा भएको छैन।

ग) कुनै संस्थापक वा संचालक विरुद्ध आर्थिक अपराध गरेको सम्बन्धमा कुनै मुद्दा दायर भएको सूचना प्राप्त भएको छैन ।

४. संगठित संस्थाको शेयर कारोबार सम्बन्धी विवरण :

क) धितो पत्र बजारमा भएको संगठित संस्थाको शेयर कारोबार सम्बन्धमा व्यवस्थापनको धारणा : यस वित्तीय संस्थाको शेयर कारोबार सम्बन्धमा खुला बजारको मूल्य मान्यता अनुसार हुने गरेको छ।

ख) त्रैमासिक अवधिमा शेयरको अधिकतम, न्यूनतम, अन्तिम मूल्य, कारोबार भई गरेको कुल दिन तथा कारोबार संख्या:

अधिकतम मूल्य न्यूनतम मूल्य अन्तिम मूल्य कारोबार दिन कारोबार कित्ता संख्या

१६३६।५० १२८०।०० १३२८।०० ६४ ८६९३५

  1. समस्या तथा चुनौती : लघुवित्त क्षेत्रमा बढ्दो प्रतिस्पर्धात्मक वातावरणले अधिक कर्जा भार रहेको, विपन्न वर्गसम्म लघुवित्त सेवा पुर्‍याउन वर्तमान प्रतिस्पर्धात्मक वातावरणले संचालन लागत बढाएको छ। आ.व. २०८२/८३ को चौथो त्रैमास अर्थात पछिल्लो समयमा लघुवित्त संस्था विरुद्ध देखिएका गतिविधिले संस्थाको आर्थिक क्रियाकलाप एवम् कर्जा लगानी र असुलीमा अपेक्षाकृत सुधार देखिएको छैन ।
  2. संस्थागत सुशासन : संस्था संस्थागत सुशासन प्रतिपालनका लागि सदैव प्रतिबद्ध रहेको छ। नेपाल राष्ट्र बैंकबाट जारी निर्देशनहरू र संस्थाको सञ्चालक समितिबाट समय समयमा पारित नीति नियम तथा कार्यविधिहरूलाई संस्थाले पालना गर्दै आएको छ। संस्थाको संचालक समिति, आन्तरिक लेखापरीक्षण समिति र व्यवस्थापन समूह संस्थामा संस्थागत सुशासन कायम राख्न प्रतिबद्ध छ। संस्थासँग भएका लिखित नीति, नियम र निर्देशिकाहरूले संस्थाको सुशासनको सुनिश्चितता गरेको छ।
  3. सत्य तथ्यताका सम्बन्धमा संस्था प्रमुखको उद्घोष : आजको मितिसम्म यस प्रतिवेदनमा उल्लेखित जानकारी तथा विवरणहरूको शुद्धता सम्बन्धमा म व्यक्तिगत रुपमा उत्तरदायित्व लिन्छु। साथै म यो उद्घोष गर्दछु, मैले जाने बुझेसम्म यस प्रतिवेदनमा उल्लेखित विवरणहरू सत्य तथ्यपूर्ण छन् र लगानीकर्ताहरूलाई सु-सूचित भई निर्णय लिन आवश्यक कुनै विवरण वा सूचना तथा जानकारीहरू लुकाइएको छैन ।

Condensed Statement of Financial Position

As on Quarter ended 32nd Ashar, 2083 (16th July, 2026)

Amount in "000"

Particulars This Quarter Ending Immediate Previous Year Ending (Audited)
Assets
Cash and Cash Equivalent378,888.01564,992.90
Statutory Balances and Due from Nepal Rastra Bank30,529.7928,529.79
Placement with bank & financial institutions--
Derivative Financial Instruments--
Other Trading Assets--
Loan and Advances to MFIs & Cooperatives--
Loan and Advances to Customers6,474,046.276,050,776.12
Investment Securities--
Current Tax Assets63,587.4442,734.52
Investment Property--
Property and Equipment27,220.6235,843.17
Goodwill and Intangible Assets467.47929.18
Deferred Tax assets114,837.41114,837.41
Other Assets176,438.0367,420.30
Total Assets7,266,015.036,906,063.40
Liabilities
Due to Bank and Financial Institutions--
Due to Nepal Rastra Bank--
Derivative Financial Instruments--
Deposits from Customers2,984,045.842,763,974.03
Borrowings2,769,236.553,101,853.80
Current Tax Liabilities126,348.0946,840.26
Provisions--
Deferred tax liabilities--
Other Liabilities433,252.16449,068.85
Subordinated Liabilities--
Total Liabilities6,312,882.646,361,736.94
Equity
Share Capital266,424.39266,424.39
Share Premium--
Retained Earnings48,604.69(179,874.77)
Reserves638,103.30457,776.84
Total Equity953,132.38544,326.46
Total Liabilites and Equity7,266,015.036,906,063.40

Condensed Statement of Profit & Loss

For the Quarter ended 32nd Ashar, 2083 (16th July, 2026)

Particulars 2083 Ashar End This Quarter Upto This Quarter (YTD) 2082 Ashar End Corresponding This Quarter Upto This Quarter (YTD) (Audited)

Details about the distributable profit Amount in "000"

Net Profit for the period ended Third Quarter of the FY 2082/83 294,812.21

1. Appropriations :

1.1 Profit required to be appropriated to : 66,332.75

a. General reserve 58,962.44

b. Capital Redemption Reserve -

c. Foreign exchange fluctuation fund -

d. Corporate social responsibility fund 2,948.12

e. Employees training fund -

f. Client Protection Fund 4,422.18

g. Other -

1.2 Profit required to be transferred to Regulatory Reserve: -

a. Transferred to Regulatory Reserve -

b. Transferred from Regulatory Reserve -

Net Profit for the period Third Quarter of the FY 2082/83 available for distribution 228,479.46

Notes :

1. The interim financial statements have been prepared in accordance with Nepal Financial Reporting Standard (NFRS) and certain Carveout issued by the ICAN.These figures may vary with the audited figures as per as instructed by external auditors and regulators.

2. The detailed interim financial report has been published in our website :www.cycnlblsl.org.np

3. Loans and Advances are presented net of impairment charges & includes staff loans.

4. Actuarial Valuation has not been done for Employee Benefits in this quarter.

5. Employee bonus provision also include on personal expenses.

6. Previous figures are regrouped/rearranged/restated wherever necessary for consistent presentation and comparison.

Schedule 14 of Securities Registration and Issue Regulations, 2073

(Related to Sub-rule 1 of Rule 26)

Fourth Quarter Report of F.Y. 2082/83

1. Financial Statements

a) Details regarding Balance Sheet and Profit/Loss of the quarterly period:

Unaudited financial statements for the fourth quarter of current F.Y. 2082/83 have been published herewith.

b) Key Financial Ratios :-

Earnings Per Share (Annualized) Rs. 110।66 Price Earnings Ratio 12।00

Net Worth Per Share 357।75 Liquidity Ratio 15।03

Total Assets Value Per Share Rs. 2727।23

2. Management Analysis

a) Details regarding major reasons for any changes in the institution's balance, income, and liquidity during the quarterly period:

Except for timely routine changes, there have been no material changes in the institution's balance, income, and liquidity in the fourth quarter. Management is of the opinion that the institution's balance and liquidity during the review period remain satisfactory.

b) Analytical details of management regarding the business plan for the upcoming period: "With the core theme of 'Employment with the Unemployed, Market with Production, and CYC Laghubitta with Financial Need', this financial institution, which has received approval from Nepal Rastra Bank to expand its working area to a national level, in 77 districts 124 branches

Interest Income257,298.73869,494.13294,191.09920,341.06
Interest Expenses104,145.24414,330.34105,695.29439,636.10
Net Interest Income153,153.49455,163.78188,495.80480,704.96
Fee and Commission Income24,430.8577,231.5326,854.5069,271.36
Fee and Commission Expenses--610.02616.36
Net Fee and Commission Expenses24,430.8577,231.5326,244.4868,655.00
Net Interest Income,Fee and commission Income177,584.34532,395.31214,740.28549,359.96
Net trading income----
Other Operating income----
Total Operating Income177,584.34532,395.31214,740.28549,359.96
Impairment Charge/(Reversal) for loans and other losses(297,207.93)(259,147.30)342,096.10360,002.60
Net Operating Income474,792.27791,542.61(127,355.82)189,357.36
Operating Expenses132,666.26380,494.7582,432.50322,876.12
Personal Expenses105,140.56285,067.8762,877.04238,088.76
Other Operating Expenses24,935.1785,614.891,352.3360,620.88
Depreciation and Amortization2,590.529,811.9918,203.1424,166.48
Operating Profit342,126.02411,047.87(209,788.32)(133,518.76)
Non-Operating Income2,704.3810,112.431,542.405,076.07
Non-Operating Expenses----
Profit Before Income Tax344,830.39421,160.30(208,245.92)(128,442.69)
Income Tax Expenses103,449.12126,348.09(62,316.59)(38,375.62)
Current Tax103,449.12126,348.0922,899.3046,840.26
Deferred Tax--(85,215.89)(85,215.89)
Profit/loss for the Period241,381.27294,812.21(145,929.33)(90,067.07)

Condensed Statement of Comprehensive income

Particulars 2083 Ashar End 2082 Ashar End Corresponding

This Quarter Upto This Quarter (YTD) This Quarter Upto This Quarter (YTD) (Audited)

Profit or loss for the period241,381.27294,812.21(145,929.33)(90,067.07)
Other Comprehensive Income----
Total Comprehensive Income241,381.27294,812.21(145,929.33)(90,067.07)
Basic earning per share-110.66-(33.81)
Diluted earning per share-110.66-(33.81)
Profit for the period241,381.27294,812.21(145,929.33)(90,067.07)

Ratios as per NRB Directives

Particulars 2083 Ashar End 2082 Ashar End Corresponding

This Quarter Upto This Quarter (YTD) This Quarter Upto This Quarter (YTD) (Audited)

Capital Fund to RWA--
Non-Performing Loan(NPL) to total loan--
Total Loan Loss Provision to Total NPL--
Cost of Funds--
Credit to Deposit & Borrowing Ratio-112.53-103.15
Base Rate--
Interest Spread Rate--

* Interest Rate on Loan and Advances : 9% to 15% & Deposits : 7.5% to 13.30%

Has been providing microfinance services through offices. By the end of this quarter, the institution has provided microfinance services to a total of 1,26,327 deprived sector member households. It plans to maximum mobilize its resources and means to operate microfinance services sustainably.

The financial institution has been conducting financial literacy programs through branch offices.

To provide transparency in financial transactions, the "CYC MFI Smart APP" service has been activated, allowing customers to check their transactions via mobile.

To enhance employee skills, improve work efficiency, and operate productivity more effectively, employees will be involved in necessary training and seminars to build capacity, making satisfied members the basis for sustainable advertising of the institution. Furthermore, the management is always committed to further refining the services and facilities provided by the institution, keeping in mind the changing needs of customers beyond limiting financial transactions to loans, savings, and remittance facilities.

c) Analytical review of events/circumstances that may have a material impact on the profit/cash flow of the organized institution based on past experience: During the review period, the financial institution smoothly managed the required investable funds. Due to issues such as duplication among microfinance institutions, unhealthy competition, ongoing campaigns against microfinance institutions, and delayed installment payments by customers caused by external environmental factors, cash flow, bank balances, and profit/loss for the fourth quarter of FY 2082/83 have been directly impacted. However, management remains committed to managing various risks including credit risk and liquidity management.

3. Legal Proceedings Details:

a) During this quarterly period, no lawsuit has been filed by the organized institution, cases filed against employees in the past remain pending in court, and no notification of any lawsuit filed against the institution has been received.

b) No lawsuit has been filed or occurred regarding disobedience of prevailing rules or criminal offenses by the promoters/directors of this institution or against promoters/directors.

c) No notification has been received regarding any lawsuit filed against any promoter or director concerning financial crime.

4. Share Transaction Details of the Organized Institution:

a) Management's view regarding share transactions of the organized institution in the stock market: Share transactions of this financial institution take place in accordance with open market values and principles.

b) Maximum, minimum, closing price, total trading days, and number of traded shares during the quarterly period:

Maximum Price Minimum Price Closing Price Trading Days Traded Quantity

1636।50 1280।00 1328।00 64 86935

5. Problems and Challenges: The growing competitive environment in the microfinance sector has increased the debt burden, and the current competitive environment to deliver microfinance services to the deprived class has increased operating costs. Due to activities seen against microfinance institutions during the fourth quarter of FY 2082/83 (recent period), expected improvements in economic activities, loan investment, and recovery of the institution have not been observed.

6. Corporate Governance: The institution is always committed to complying with corporate governance. It adheres to directives issued by Nepal Rastra Bank and policies, rules, and procedures passed time to time by the Board of Directors. The Board of Directors, Internal Audit Committee, and management group are committed to maintaining corporate governance in the institution. Written policies, rules, and guidelines available with the institution ensure governance.

7. Declaration by Chief Executive regarding Truthfulness: I personally take responsibility for the accuracy of information and details mentioned in this report as of today's date. Furthermore, I declare that to the best of my knowledge and belief, the details mentioned in this report are true and factual, and no material, details, notice, or information necessary for investors to make informed decisions have been concealed.

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