Microfinance in Nepal — Is the Sector's Growth Story Over?

Nepal's microfinance sector grew at 26.5% CAGR over five years — but sector NPL has tripled to 7.2%, 23 out of 48 MFIs earn less than 1% return on assets, and one institution is already under NRB corrective action. The growth story isn't over, but it's entering a painful reset that will separate the survivors from the casualties.