By Karuna Thapa
Kathmandu, April 20
The unrevised financial results for the third quarter of 2078/79 have been released by NIC Asia Bank.
The indicators of the bank’s total financial statements, according to the bank, are promising.
The overall credit to credit business of the bank in the third quarter of 2078/79 was Rs. 274.74 billion.
Furthermore, the total deposit collection for deposits totals Rs. 302.81 billion, with a net profit of Rs. 3.60 billion. On a year-over-year basis, this is a 20% gain.
Similarly, the bank’s return on equity is said to be the greatest among all 27 commercial banks at 21.46 percent. The bank also makes an annualized profit per share of Rs 41.94, which is expected to be the most of any of the 27 commercial banks.
Even in the difficult situation of Covid-19, the bank managed to hold non-performing loans (NPLs) at 0.51 percent until the third quarter, obtaining extremely good results. By the third quarter of 2078/79, the bank had added over 900,000 new accounts. As of this quarter, the bank’s proportion of total loan investment in small and medium-sized businesses and retail-related strategic sectors had increased to around 86 percent.
