NIC Asia profits Rs 4 billion 650 million

KATHMANDU, Aug 6: NIC Asia Bank has profited Rs 4 billion 650 million in the fiscal year 2079-80. The Bank’s profit has increased by 10.35 percent compared to the previous fiscal year 2078-79 where the profit of the Bank was Rs 4 billion 210 million.

By the fourth quarter of the fiscal year, the bank collected deposits of 314 billion 310 million rupees and invested 271 billion 590 million rupees in loans. The bank has earned 12 billion 371 million 100 thousand rupees from interest income.

Similarly, during the review period, the bank reported that it earned 6 billion 827 million 300 thousand rupees from operating profit.

Likewise, the Return on Equity (ROE) of the bank is 17.07 percent, while the annual income per share of the bank has reached 40 rupees 22 paisa. The bank estimates that the ROE and earnings per share are leading among all 20 commercial banks.

Also, the bank has claimed to have succeeded in achieving very encouraging results in loan recovery and managed to limit the non-performing loan ratio to 0.80 percent by the fourth quarter.