NIC Asia Bank (NICA) Convenes 24th AGM, New BOD Elected

NIC Asia Bank Limited (NICA) has successfully concluded its 24th AGM. The AGM was held on 20th Chaitra, 2078, in Army Officers Club, Bhadrakali, Kathmandu, starting at 9 am that day.

The AGM endorsed financial reports for the fiscal year 2077/78 and annual reports presented by the chairman. The meeting also endorsed the appointment of the independent director Bijaya Swar.

The AGM elected 3 board members from public shareholders and 3 from promoters. Tulsiram Agrawal, Trilok Chand Agrawal, and Ramchandra Sanghai have been elected board members from promoters while Nikunja Agrawal, Ganeshman Shrestha, and Aditya Kumar Agrawal have been elected from the public shareholders.

The company has acknowledged the contribution of outgoing board members Rajendra Prasad Aryal and Binod Kumar Pyakurel in high regard.

The board meeting of the new BOD held after the AGM has unanimously chosen Tulsiram Agrawal as the chairman of the board.

NIC Asia Bank Limited has the biggest branch network in the country with 358 branches, 473 ATMs, 100 extension counters, and 81 branchless banking. The bank serves 25% of the financially active demographic between the ages of 20 to 50 in Nepal.

Under its accountable banking policy, NIC Asia Bank has paid direct and indirect revenue totaling Rs. 3.16 Arba to the government. It is the country's second-largest taxpayer commercial bank and sixth largest taxpayer institution.

Adhering to the principle of financial inclusion, the bank has its presence in rural districts with minimal banking channels like Mugu, Kalikot, Bajhang, Rukum, Jumla, Salyan, etc., and also in more than 34 local zones not penetrated by the banking reach.