वाणिज्य बैंकहरूबाट प्रवाह हुने सेयर धितो कर्जा एक वर्षको अवधिमै साढे २५ प्रतिशतले बढेको छ। नेपाल राष्ट्र बैंकको तथ्यांकअनुसार २०८२ असारको तुलनामा २०८३ असार मसान्तसम्म यस्तो कर्जा २५.५५ प्रतिशतले वृद्धि भई १ खर्ब ४३ अर्ब १४ करोड रुपैयाँ पुगेको छ। एकातिर बैंकहरूबाट जाने कर्जा उत्साहजनक रूपमा बढिरहँदा, अर्कोतिर ब्रोकर कम्पनीहरूले सुरु गरेको मार्जिन कारोबार सेवामा भने लगानीकर्ताले खासै चासो देखाएका छैनन्। हालसम्म ८ वटा ब्रोकरले यो सेवा थाले पनि कर्जा प्रवाह अपेक्षाभन्दा निकै सुस्त छ।
लगानीकर्ताहरू ब्रोकरभन्दा बैंकतर्फ नै आकर्षित हुनुको मुख्य कारण 'ब्याजदर र बजारको अवस्था' रहेको सरोकारवालाहरू बताउँछन्।
बैंकहरूतर्फको तथ्यांक हेर्दा सेयर कर्जा प्रवाहमा नबिल बैंक सबैभन्दा अगाडि देखिएको छ। असार मसान्तसम्म नबिलले १८ अर्ब १४ करोड रुपैयाँ बराबरको सेयर कर्जा प्रवाह गरेको छ। यसैगरी, १४ अर्ब ८२ करोड रुपैयाँसहित ग्लोबल आईएमई बैंक दोस्रो र १० अर्ब ४४ करोड रुपैयाँसहित कुमारी बैंक तेस्रो स्थानमा छन्। प्राइम कमर्सियल, सिद्धार्थ र लक्ष्मी सनराइज बैंकले पनि ९ अर्बमाथिको कर्जा प्रवाह गर्दा सरकारी स्वामित्वको राष्ट्रिय वाणिज्य बैंकले भने अघिल्लो वर्षको तुलनामा १६२ प्रतिशतले कर्जा बढाएर ८ अर्ब ८२ करोड रुपैयाँ पुर्याएको छ।
Kathmandu — Margin-nature loans issued by commercial banks surged by over 25 percent in the last fiscal year, even as investor interest in margin facilities offered by stockbrokerages remained lukewarm. According to macroeconomic data from Nepal Rastra Bank (NRB), total bank loans extended against shares reached NPR 143.14 billion by the end of Asar 2083 (FY 2082/83), marking a 25.55% increase from NPR 114.01 billion in the corresponding period of the previous fiscal year.
Why Investors Prefer Bank Loans Over Brokerage Margins
While eight stockbrokerage firms have officially rolled out broker-administered margin trading facilities, actual disbursement through these channels has been significantly slower than expected. Market insiders point to a widening gap in interest rates and weak retail sentiment as the primary drivers:
Interest Rate Disparity: Commercial banks are currently offering loans against shares at competitive, single-digit interest rates. Broker margin facilities, by contrast, carry higher borrowing costs that investors are reluctant to bear in a volatile market.
Weak Market Confidence: With the secondary market experiencing prolonged downward pressure, investors are wary of taking on high-cost leverage. As Tara Prasad Phullel, President of the Share Investors Association Nepal, noted, traders are unwilling to incur high interest expenses to take additional risks during market downturns.
Top Lenders: Nabil and Global IME Lead the Pack
Commercial banks have aggressively expanded their margin loan portfolios over the year, led primarily by large private and state-owned lenders:
Nabil Bank: Maintained the largest share-loan portfolio, disbursing NPR 18.14 billion by the end of Asar.
Global IME Bank: Ranked second with NPR 14.82 billion (a 20.44% YoY increase).
Kumari Bank: Secured the third position with NPR 10.44 billion.
Prime Commercial & Siddhartha Bank: Disbursed NPR 9.83 billion and NPR 9.72 billion, respectively.
Notably, public sector banks recorded some of the sharpest YoY growth rates in share loans. Rastriya Banijya Bank (RBB) saw its margin loan portfolio jump by 162% to NPR 8.82 billion, while Agriculture Development Bank expanded its portfolio by 90.6% to reach NPR 8.87 billion. Similarly, NMB Bank, NIC Asia Bank, and Machhapuchchhre Bank each recorded over 90% growth in share-pledged lending over the 12-month period.
