Kathmandu. Last week, NIC Asia Bank issued a notice to sell the properties it owns. On November 8, the bank published information in various national dailies and informed about the sale of non-banking property (real estate) in 72 places across the country.

According to the latest data, commercial banks have total non-banking assets of 6.77 billion 30 million rupees. According to Nepal Rastra Bank, private sector commercial banks have non-banking assets of 6.329 billion rupees, while government-owned banks have non-banking assets of 433 million rupees. Similarly, in the financial year 2076/77, non-banking assets were 5 billion 549 million rupees and government-owned banks were 433 million rupees.

The bank has called for submission of 15-day sealed bids for the notice of real estate sale. The bank has mentioned in the notification that the non-banking assets registered in the name of the bank will be sold through secret sealed bidding in whatever condition and quantity they are.

Similarly, only on Wednesday, Machhapuchhre Bank has published a notice saying that 20 houses in 16 districts will be sold. Machhapuchhre Bank has issued a 15-day notice to sell its non-banking assets. The bank has said that the property (real estate) of various places in its name will be auctioned in the same condition and quantity in the same condition and quantity through secret sealed bidding.

Similarly, Nabil Bank has also released a notice on Wednesday that it will sell the properties it owns. Nabil Bank has said that it will sell two houses owned by it in Ward 20 of Kathmandu Metropolitan City.

These are only some of the representative banks that issue notices for real estate sales. Lately, when there is a liquidity problem in the banking sector and when there is a recession in the real estate business, why are the banks eager to sell the real estate they own? Everyone has looked at the topic with interest. It is also understood by many that the banks tried to avoid other problems by selling the non-banking assets in their name when the real estate business slowed down. However, recently, when Nepal Rastra Bank tightened provisions and issued a circular to banks to sell non-banking assets, banks started selling non-banking assets.

The banker himself says that he is trying to make the bank sustainable by selling non-banking assets as the business of the bank has also shrunk. Upendra Paudyal, Chairman of Nabil Bank, said that the economy is in a critical state and if he does not sell it, the situation may get worse in the future. He said that the bank had to sell the property it owned as it had to raise its recovery.