In its 24th year, NIC Asia has become the country’s largest networked bank

KATHMANDU: JULY 22 – NIC Asia Bank has entered its 24th year. In the 24 years of its establishment, the bank has become the largest network in the country. The bank has stated that it has succeeded in providing the highest return on investment to its shareholders in a period of 24 years.

The initial one share of public shareholder’s share price has now reached 13,662, which is an increase of about 136 times the initial investment amount.

Similarly, the bank has been able to pay more than Rs. 15.73 billion directly and indirectly to the Government of Nepal since its inception by practising responsible banking to support the consolidation of the country’s economy and high economic growth.

The bank has stated that in the fiscal year 2077/78, it has increased by 52 per cent (89.41 billion) towards loans and 42 per cent (88.96 billion) towards deposits. “The annual growth rate we have achieved in terms of credit and deposit growth is the highest in the history of banking in Nepal,” the bank said.

In the Fiscal Year 2077/78, we have managed to achieve 12.66 per cent and 13.58 per cent market share of the total growth of loans and domestic deposits in the overall banking sector, respectively.

On the occasion of entering its glorious 24th year, the bank has introduced a cashback scheme of up to 24 per cent on electronic payments.

The bank has introduced a cashback scheme of 24 per cent or up to a maximum of Rs 500 for payment of POS and e-commerce using debit/credit card and payment by scanning QR through NIC Asia Mo Bank.

On the occasion of the annual celebration, the first one thousand customers who do business with the card or NIC Asia Mo Bank on July 22 can avail this facility, the bank said.

By the third quarter of FY 2077/78, the bank claims to have become the best bank in the country in most of the major financial and non-financial indicators including asset size, credit flow, deposits, return on equity, branch network and number of ATMs.

The Bank has made a significant contribution in expanding its financial network by expanding its branch network to remote districts like Mugu, Kalikot, Bajhang, Rukum, Jumla, Salyan, etc., which have the low presence of other banks and financial institutions, and more than 34 local bodies without any presence of banks and financial institutions.

The bank has been providing banking services through 356 branches, 70 extended counters, 81 branchless banking services and 471 ATMs.

The bank has been providing services through more than 2.827 million accounts with more than 2.736 million deposit accounts and more than 91,000 loan accounts.