NIC Bank has announce a record 84 percent increase in its net profit to Rs. 96 million and 68 percent increase in its operating profit to Rs. 152 million in the first quarter of Fiscal Year 2008/09. A press statement issued by the bank this week said that the bank's lending increased by 27 percent to Rs. 11.8 billion and deposits by 21 percent to 12.8 billion. The bank's non-performing loans currently stand at a mere 0.9 % of total loans, it said. The bank further said that the recently launched 'NIC Super Deposit' that offers a 9 percent interest rate, the highest interest rate among the commercial banks, has been well accepted.
Source: eKantipur
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Sunday, November 9, 2008
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