NIC Asia Bank Limited is one of the largest and fastest-growing commercial banks in Nepal. Known for its rapid branch expansion, innovative digital banking solutions, and customer-focused services, NIC Asia has become a household name in Nepal’s financial landscape.

Founded after a successful merger between Nepal Industrial and Commercial Bank (NIC Bank) and Bank of Asia Nepal in 2013 (2070 B.S.), NIC Asia Bank is recognized for its aggressive market growth, digital innovation, and strong brand presence.

Overview of NIC Asia Bank Limited

• Full Name: NIC Asia Bank Limited

• Established: June 30, 2013 (Merger of NIC Bank and Bank of Asia)

• Headquarters: Trade Tower, Thapathali, Kathmandu, Nepal

• Ownership: Public Limited Company (Listed on NEPSE)

• SWIFT Code: NICENPKA

• Website: https://www.nicasiabank.com

• Regulator: Nepal Rastra Bank (NRB)

Historical Background

Although NIC Asia Bank as an entity was formed in 2013, its roots trace back to NIC Bank (1998 A.D.) and Bank of Asia Nepal (2007 A.D.). Their merger created one of Nepal’s most robust commercial banks.

NIC Asia became the first commercial bank merger in Nepal under NRB’s merger and acquisition policy, setting an example for other institutions.

Key Features of NIC Asia Bank

• Operates over 360 branches, making it one of Nepal’s largest banks by reach

• Serves more than 3 million customers

• Rapidly growing presence in urban, semi-urban, and rural areas

• Aggressive focus on digital transformation and innovation

Banking Products and Services

1. Personal Banking

• Savings Accounts (General, Premium, Women, Youth, Minor, Senior Citizens)

• Fixed and Recurring Deposits

• Personal Loans, Home Loans, Auto Loans, Education Loans

• Debit Cards and Credit Cards

• Locker Facilities

2. Business and SME Banking

• Business Loans and Overdraft Facilities

• Working Capital Financing

• SME and Startup Financing

• Trade Finance (LCs, Guarantees)

• Business Current Accounts

3. Digital and e-Banking

• NIC ASIA MoBank App for mobile banking

• NIC ASIA Internet Banking for individuals and businesses

• Real-time fund transfer via ConnectIPS, RTGS

• QR Payments via Fonepay

• Utility Bill Payment, Insurance, and Tax Payment through app

4. Remittance and International Banking

• SWIFT services for global fund transfers

• Direct remittance tie-ups with various countries

• Foreign currency exchange and NRN banking services

Branch Network and Accessibility

NIC Asia Bank has one of the most extensive banking networks in Nepal:

• Over 360 branches in all 77 districts

• 110+ extended counters and branchless banking units

• 480+ ATMs across the country

• Coverage in both rural and urban markets

This strategic distribution supports financial inclusion and offers services even in remote locations.

Digital Transformation

NIC Asia is at the forefront of Nepal’s digital banking revolution, with advanced technological infrastructure and a focus on paperless, branchless, and cardless banking.

Digital Innovations:

• MoBank App with biometric login and facial recognition

• Digital Loan Portal with online application and tracking

• Virtual Debit Cards for online transactions

• e-KYC system for online account opening

• 24/7 AI-based chatbot and customer support tools

The bank’s strategy is to become “Digital First and Fully Automated” in the coming years.

Financial Highlights (As of FY 2080/81 B.S.)

NIC Asia consistently ranks among Nepal’s top commercial banks based on profitability, assets, and customer growth.

• Total Assets: Over NPR 450 billion

• Net Profit: More than NPR 4 billion

• Deposit Base: Exceeds NPR 350 billion

• Loan Portfolio: Around NPR 325 billion

• Capital Adequacy Ratio (CAR): Maintained per NRB guidelines

• NPL Ratio: Below industry average due to effective risk controls

Corporate Social Responsibility (CSR)

NIC Asia invests in impactful social initiatives aimed at education, health, environment, and entrepreneurship:

• Scholarship programs for underprivileged students

• Financial literacy programs in rural areas

• COVID-19 relief and support funds

• Tree plantation and clean environment campaigns

• Support for women-led enterprises and youth startups

Strategic Focus and Future Plans

Challenges:

• Rising customer expectations for seamless digital experiences

• Cybersecurity threats and digital risk management

• Intense competition from digital wallets and fintech firms

Strategic Goals:

• Transition to fully digital banking architecture

• Expand branchless and mobile-based financial services

• Strengthen data security and compliance infrastructure

• Develop green finance and climate-related financial products

• Expand international remittance and trade finance partnerships

Conclusion

NIC Asia Bank Limited is redefining banking in Nepal with its speed of growth, digital innovation, and customer-centric strategies. From rural microfinance to high-end corporate banking, NIC Asia delivers modern, accessible, and trusted financial solutions to millions of Nepalese.

Whether you’re looking for an easy-to-use mobile banking app, business finance, or personal savings, NIC Asia Bank offers unmatched value in Nepal’s rapidly evolving financial sector.