KATHMANDU, DEC 16 - Nepal Industrial and Commercial (NIC) Bank issuing has claimed that it has recorded 281 per cent growth in net profit during the year 2002/03.
The net profit of the bank for the last fiscal year was at Rs 25.9 million. According to a press release issued by the bank today, its operating profit increased by 50 percent as compared to previous fiscal year touching Rs 100.6 million.
The bank has also stated that its net Non-Performing Assets (NPA) is 1.07 percent of the total risk assets against 4.03 percent during the previous year.
In the same trend, the bank recorded 41 percent growth in operating profits during the first quarter of the current fiscal year as compared to the corresponding period in 2002/03.
The press release states that the capital adequacy ratio of the bank in the year-end 2002/03 was 18.87 percent, the highest in the banking industry in the country and significantly higher than the 10 percent requirement of Nepal Rastra Bank.Posted on: 2003-12-17 04:06

Post Your Comment

Please note that all the fields marked * are mandatory.

* Full Name

* Address

* Email Address

* Comment
[Some of the HTML tags you can use : <b>, <i>, <a>]

* Captcha

Get another CAPTCHA code