NIC Asia Bank is celebrating its 24th anniversary. In the 24 years since its inception, the bank has grown to become the largest network in the country. The bank claims to have provided the highest return on investment to its stockholders during a 24-year period.
The initial one share of public shareholder’s share price has now reached 13,662, representing a 136-fold growth over the initial investment amount.
Similarly, from its foundation, the bank has been able to pay more than Rs. 15.73 billion to the Government of Nepal, both directly and indirectly, by practising responsible banking to promote the country’s economic consolidation and high economic growth.
According to the bank, it raised its loans by 52% (89.41 billion) and its deposits by 42% (88.96 billion) in fiscal year 2077/78. “The annual growth rate in credit and deposit growth we have attained is the highest in the history of banking in Nepal,” the bank added.
In Fiscal Year 2077/78, we achieved a market share of 12.66% of total loan growth and 13.58% of total domestic deposit growth in the banking sector as a whole.
In celebration of its historic 24th year, the bank has launched a reward incentive of up to 24% on electronic payments.
On the occasion of the annual celebration, the first 1,000 customers who transact business with the card or NIC Asia Mo Bank on July 22 can take advantage of this offer, according to the bank.
By the third quarter of fiscal year 2077/78, the bank claims to have become the best bank in the country in the majority of significant financial and non-financial metrics such as asset size, credit flow, deposits, return on equity, branch network, and ATM number.
The Bank has made a significant contribution to the expansion of its financial network by expanding its branch network to remote districts such as Mugu, Kalikot, Bajhang, Rukum, Jumla, Salyan, and others that have a low presence of other banks and financial institutions, as well as more than 34 local bodies that have no presence of banks and financial institutions.
The bank currently operates 356 branches, 70 extended counters, 81 branchless banking services, and 471 ATMs.
The bank has more than 2.827 million accounts, including more than 2.736 million deposit accounts and more than 91,000 loan accounts.