NIC Asia Commemorates Two Decades of Banking Operations

July 21, 2017

NIC Asia Bank, which is one of the major private sector commercial banks in Nepal, is marking the 20^th year of its operations today. The bank was initially registered as Nepal Industrial and Commercial Bank Ltd on July 21, 1998 and upon its merger with the Bank of Asia on June 30, 2013 it became known as the NIC Asia Bank.

The bank, which earned a profit of Rs 1.42 billion last year and holds a paid-up capital of Rs 6.69 billion currently, has 119 branches, 70 ATMs, and 4,000 remittance counters across Nepal.  In a statement issued to the press on Wednesday, the bank detailed its strategy to extend various types of loans and its plans to introduce the ‘score card model’ that would facilitate online transactions.

Through its corporate social responsibility program, the bank has been contributing to the development of various sectors such as environment, health and education.

NIC Asia was named as Bank of the Year (Nepal) by The Banker, Financial Times, UK in 2007 and 2013.