NIC ASIA Bank clocks massive growth rate; operating profit grows by astounding 172% where credit swels by 48 % with deposit collection at 46% in contrast
Fri, Feb 1, 2019 6:24 AM on Latest, Stock Market, Financial Analysis,
NIC ASIA Bank, publishing its quarterly report for the second quarter of the FY 2075-76 has reported a resounding financial performance. The bank has reported huge growth in its operational profit by 172% i.e. Rs 2.14 arba and net profit by 164% i.e. Rs 1.51 arba.
The bank has also recorded a growth rate of 54% in its size of balance sheet to Rs 2.14 Kharba by the review period. It saw its loan disbursement grow by 48% to Rs 149.3 arba however deposit figure swell by 46% to Rs 175.76 arba in the same period.
The bank claims that the recorded rate of increment is the highest figure the banking industry has ever seen in its history in Nepal when looking at the growth rate in a single quarter.
The bank currently has 275 branches, 289 ATM outlets, 39 extension counters and 23 branchless banking units under its widest network throughout the nation.
NIC Asia shows outstanding performance in Q2 with 164% rise in profit; EPS climbs to Rs 34.22
