NIC ASIA Bank expands credit portfolio to agriculture and tourism; launches easy loan service to promote backbone of economy

NIC ASIA Bank has introduced its all-new Agriculture and Tourism sector credit facilities to the Nepalese market from Jestha 1, 2075. The bank has initiated its credit facility to make an impactful contribution towards the agriculture and tourism sectors which have been acknowledged as the productive sector and backbone of our national economy.

Under an agriculture loan service, any entrepreneur who has completed all the due course of formalities to receive agriculture credit from government in 5% interest will be eligible for this credit facility with no administrative cost attached from the bank. Apart from those business that don’t meet the prescribed criterias of the government in order to be eligible to receive subsidized loans, NIC ASIA Bank has also committed to provide credit facilities to other such businesses that work basically in the sector of agriculture and tourism.

The bank’s network of 211 branches, 203 ATMs, 6 extension counters and 7 branchless banking locations are jointly expected to aid in the extension of the proposed credit facilities. It has so far extended total loans of Rs 110 arba while raised the deposits of Rs 135 arba.