NBA chief incorrect about Sri Lanka’s bank lending rate

Sanjog Shiwakoti / January 10, 2020

Nepal Bankers Association President Bhuvan Kumar Dahal.                                                           Photo: Youtube grab

President of Nepal Bankers Association (NBA) Bhuvan Kumar Dahal, speaking on the ‘Good Morning Nepal’ program [go to 18 mins 16 sec] aired on Kantipur Television on January 9, 2019 said: “The lending rate in Sri Lanka is also very high. I think it is not less than 16-17%.”

South Asia Check has examined the statement:

A weekly report entitled “Weekly Economic Indicator” published by the Central Bank of Sri Lanka on January 3, 2020 shows that the average weighted lending rate in November 2019 was 13.65% and it was 13.71% in October 2019.

This shows Dahal’s statement is incorrect.

Meanwhile, the average weighted lending rate of Nepal in 2019 was 12.13%, according to the Nepal Rastra Bank.

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