NIC ASIA Bank continues towards its push in becoming the best bank in Nepal; earns net profit of Rs 2.01 arba with EPS of 41.61 this second quarter

NIC ASIA Bank has published an outstanding unaudited financial report for the second quarter of fiscal year 2076-77. As per the report, the bank has earned an operational profit of Rs 2.90 arba which is an increment by 36% when compared to the second quarter of previous financial year.

Likewise, its net profit has also jumped in a same trend to Rs 2.01 arba which is an increment by 33% since the figure stood at Rs 1.51 arba last year.

The bank has increased its credit portfolio by Rs 15 arba to Rs 165 arba while the deposit collection figure has touched Rs 186 arba mark with Rs 6 arba more than the second quarter of previous fiscal year.

The bank states in its media statement that it has given the topmost priority for diversification of its credit and deposit portfolios. The bank has 72% of its total credit invested in retail sector and less than 5% of the total credit amount issued as loan for the top 10 borrowers, both of the figures are considered the ideal figures in the banking sector of Nepal.

As per the financial report, the bank is also able to raise its EPS by 21% to Rs 41.61 during the review period.

The bank currently has 313 branches, 426 ATM terminals, 103 extension counters and 45 branchless banking units, making it the largest bank in the nation in terms of the network and bank reach.