Himalayan News Service

Kathmandu, July 13:

Nepal Industrial & Commercial Bank (NIC-Bank) has been ranked number one by Nepal Rastra Bank (NRB), the central bank of the country, based on the result of an in-depth study of overall portfolio management of 15 commercial banks currently operating in the country. The Bank scored 1250 marks during the 3rd quarter of the current fiscal year, states a press release issued here by the bank today.

Everest Bank scored 1043 to be ranked second and Standard Chartered Bank scored 1022 and stood third. Similarly Nabil Bank scored 1003, Laxmi Bank scored 997, Nepal Investment Bank scored 941, Bank of Kathmandu scored 919, Machhapuchhre Bank scored 915, Sidhhartha Bank scored 914 and Nepal SBI Bank scored 892 and positioned from fourth to tenth respectively. Likewise, Nepal Bangladesh Bank scored 872, Himalayan Bank scored 856, Kumari Bank scored 769, Nepal Credit & Commerce Bank scored 623 and Lumbini Bank scored 464, according to the statement.

The banks were ranked as per the international standard of CAELS, the five key financial parametres — capital adequacy, assets quality, earnings, liquidity and sensitivity to market risks. Out of these five indicators, NIC bank obtained the highest score on assets, quality and earnings.

NIC bank is a private sector banking institution established by national investors without any joint venture partner. Presently the bank has a network of eight branches spread from Birtamod in the east to Pokhara in the west.

The bank has launched several consumer friendly schemes like NIC Life saving accounts and NIC Ghar Subidha scheme.