Kathmandu. NIC Asia Bank published the financial statements for the first quarter of 2077/78.

The indicators of the overall financial statements of this bank, which occupies a leading position in most of the financial indices of the banking sector, are encouraging. A statement issued by the bank's Chief Information Officer Sudhir Nath Pandey said that the bank has managed to earn Rs 42.14 per share in the first quarter despite the unfavorable conditions created by the epidemic, instability in the economy and lack of economic activity. The bank has managed to increase its net profit by 1 percent to Rs. 1.2 billion as compared to the same period of the previous year.

By the first quarter of the bank, Rs. 29.8 billion, an increase of Rs. 203.6 billion. The bank accounted for 23 percent of the country's total growth of about Rs 129 billion in the same period. In addition, the bank's domestic currency deposit collection increased by Rs. 36.06 billion to Rs. The bank has managed to reach Rs. 244.87 billion. Of the total commercial banks in the country, which grew by about Rs 172 billion in the same period, it accounted for 21 percent. The share of individual deposits in the total deposits of the bank is 64 percent and the share of institutional deposits is 34 percent. The bank has managed to reduce its non-performing loans (NPLs) from 0.75 percent at the end of last year to 0.40 percent by the end of this quarter, even in difficult circumstances.

As per its strategy, the bank has been pursuing a policy of expanding investment in small and medium loans and retail loans with the objective of maintaining low risk in the loan portfolio. Accordingly, the bank has extended about 82 percent of the total loan investment in such strategic areas till last fiscal year. As a result of the strategy adopted by the Bank, the total loan portfolio of the top 10 customer dignitaries of the Bank is only 3.25% of the total loan of the Bank, which is one of the best and lowest risk in the overall banking sector. Also, the share of loans with a limit of less than Rs 50 million in the total loan of the bank is 78.85 percent.