NIC ASIA Bank

NIC ASIA Bank is a Nepalese commercial banking brand whose origins date to the establishment of Nepal Industrial and Commercial Bank on 21 July 1998. The institution adopted the NIC ASIA Bank name on 30 June 2013 following its merger with Bank of Asia. The transaction was described as the first merger between two commercial banks in Nepalese banking history and became the defining corporate event behind the present brand. The bank operates across Nepal and provides banking services through a broad physical and alternative-delivery network. The reference material describes 360 branches, 647 ATMs, 108 extension counters, and 41 branchless banking service points, with coverage extending across major financial centers. It also reports that the bank served more than three million customers as of April 2022. This footprint has supported the bank's positioning as one of Nepal's largest banks by distribution reach, customer base, and balance-sheet scale, although the precise ranking can vary by measurement date and source. NIC ASIA's business is centered on commercial banking. Its activities include deposit-taking, lending, payments, remittance-related services, and other banking services for individual customers, businesses, and institutions. The bank's physical network is complemented by ATMs, extension counters, and branchless channels intended to make services available beyond conventional full-service branches. The available reference material does not provide a complete product catalogue or detailed descriptions of its digital platforms, so individual branded products are not listed here as established facts. The organization has also expanded its financial-services presence through wholly owned subsidiaries. These include NIC Asia Capital Limited, associated with capital-market and investment-banking services, and NIC Asia Laghubittiya Sanstha Limited, a microfinance institution. The subsidiaries give the wider NIC ASIA organization activities beyond conventional commercial banking while retaining the bank as the principal brand and operating institution. The bank's ownership structure, as reported for fiscal year 2023/24, comprised a 51 percent promoter-group holding and a 49 percent general-public holding. The same material reports paid-up capital of NPR 14.92 billion for that period. Because the provided sources do not establish a current stock ticker or provide a direct corporate website, those fields remain unspecified in this dossier. NIC ASIA has received external recognition during its operating history. The Banker, a Financial Times publication, named it Bank of the Year 2013-Nepal after the merger; the bank had previously received the Nepal award in 2007. The institution was headed, according to the supplied reference, by chairman Ashok Kumar Agrawal and chief executive officer Sujit Kumar Shakya. NIC ASIA therefore represents a large, domestically focused Nepalese banking brand built through consolidation, nationwide distribution, and expansion into adjacent financial services.

NIC ASIA Bank traces its institutional history to Nepal Industrial and Commercial Bank, established on 21 July 1998. It entered Nepal's commercial-banking sector as a domestic banking institution and developed its business through a combination of conventional branches and broader distribution channels. A major turning point came on 30 June 2013, when Nepal Industrial and Commercial Bank merged with Bank of Asia. The combined institution was renamed NIC ASIA Bank. The merger was characterized in the supplied reference as the first merger between two commercial banks in Nepalese banking history, making it both a corporate consolidation and an important event in the development of Nepal's banking sector. The new identity retained the “NIC” heritage while incorporating “ASIA” from Bank of Asia. The post-merger institution expanded its national operating footprint. Its delivery network came to include hundreds of branches and ATMs, extension counters, and branchless banking services. According to the supplied reference, the bank had 360 branches, 647 ATMs, 108 extension counters, and 41 branchless banking service points. These channels served customers across major financial centers in Nepal and supported the bank's positioning as a high-reach institution. The same reference reported more than three million customers in April 2022 and described the bank as the largest in terms of footprint expansion, customer base, and balance-sheet size. NIC ASIA also developed an affiliated financial-services structure. Its wholly owned subsidiaries are NIC Asia Capital Limited and NIC Asia Laghubittiya Sanstha Limited. The first extends the group's activities into capital-market services, while the second operates in the microfinance sphere. These subsidiaries broaden the organization's coverage of financial services without changing the bank's core identity as a commercial bank. Recognition accompanied the institution's development. The Banker, published by the Financial Times, named it Bank of the Year 2013-Nepal after the merger. This followed an earlier Nepal award in 2007, giving the bank a second recognition from the publication in the supplied account. For fiscal year 2023/24, the reference material reports paid-up capital of NPR 14.92 billion. It describes the ownership structure as 51 percent promoter-group ownership and 49 percent general-public ownership. The bank's head office is in Kamaladi, Kathmandu. The available material identifies Ashok Kumar Agrawal as chairman and Sujit Kumar Shakya as chief executive officer. No reliable information was supplied about earlier executives, detailed financial performance, named consumer products, advertising campaigns, or controversies; those areas are therefore not expanded beyond the documented institutional milestones.

• 2024

  Paid-up capital and ownership reported for FY 2023/24

  [1]NIC ASIA Banken.wikipedia.org

  The reference reported paid-up capital of NPR 14.92 billion, with 51 percent held by the promoter group and 49 percent by the general public, for fiscal year 2023/24.

• 2022

  Customer base exceeded three million

  [1]NIC ASIA Banken.wikipedia.org

  The supplied reference reported more than three million customers as of April 2022.

• 2013

  Merger with Bank of Asia

  [1]NIC ASIA Banken.wikipedia.org

  Nepal Industrial and Commercial Bank merged with Bank of Asia on 30 June and adopted the NIC ASIA Bank name.

• 2013

  Bank of the Year 2013-Nepal

  [1]NIC ASIA Banken.wikipedia.org

  The Banker recognized NIC ASIA as Bank of the Year 2013-Nepal after the merger.

• 2007

  First Bank of the Year recognition in Nepal

  [1]NIC ASIA Banken.wikipedia.org

  The bank was previously recognized as Bank of the Year in Nepal by The Banker, according to the supplied reference.

• 1998

  Nepal Industrial and Commercial Bank established

  [1]NIC ASIA Banken.wikipedia.org

  The institution that later became NIC ASIA Bank was founded as Nepal Industrial and Commercial Bank on 21 July 1998.

A large, nationwide Nepalese commercial bank emphasizing broad physical distribution, customer reach, and access to banking services through branches and alternative channels.

• Banking · 1998

  Commercial banking

  NIC ASIA Bank's core offering is commercial banking for customers in Nepal. The available reference establishes a broad banking operation serving more than three million customers and covering major financial centers through branches, ATMs, extension counters, and branchless service points. Specific account names, rates, eligibility criteria, and digital features are not documented in the supplied material.

• Capital-market services

  NIC Asia Capital Limited

  NIC Asia Capital Limited is identified as a wholly owned subsidiary of NIC ASIA Bank. It represents the group's capital-market and related investment-services activity. The supplied sources do not provide a detailed list of its services or a separate product history.

• Microfinance

  NIC Asia Laghubittiya Sanstha Limited

  NIC Asia Laghubittiya Sanstha Limited is identified as a wholly owned subsidiary. It extends the NIC ASIA organization's presence into microfinance, although the supplied reference does not specify its individual products, customer numbers, or operating milestones.

• 2013

  Merger with Bank of Asia and brand renamingM&A

  Background

  Nepal Industrial and Commercial Bank combined with Bank of Asia in a transaction described as Nepal's first merger between two commercial banks.

  Action taken

  The merged institution adopted the NIC ASIA Bank name on 30 June 2013.

  Aftermath

  The combined bank received The Banker's Bank of the Year 2013-Nepal recognition and subsequently operated with a large nationwide distribution network.

  Source

1. 1NIC ASIA Banken.wikipedia.org