Kathmandu, December 2;

Nepal Industrial & Commercial Bank (NIC Bank) has been awarded the Bank of the Year award — one of the most prestigious awards in the banking industry globally — by The Banker, Financial Times Group, London.

“Certain core strengths like being the first bank to introduce retail bullion trading and surrogate life insurance deposit products, have anchored NIC bank’s journey of transformation and growth,” Niraj Shrestha, acting chief executive officer, said, adding that it is also the first bank to be provided a line of credit by International Finance Corporation (IFC), World Bank Group, under its Global Trade Finance Programme enabling its Letters of Credit/Guarantees to be accepted and confirmed by more than 200 banks globally.

Addressing a press meet here today, Jagdish Agrawal, a member of the board of the bank, said that within a short span of its establishment, the bank has achieved a great success. “NIC offers a wide range of services including SMEs and corporate banking products,” he said.