KATHMANDU, June 15: State-owned NIDC Development Bank has introduced a host of plans, including bringing down the level of non-performing loan to below 10 percent of the total loan portfolio from existing 31.49 percent, to establish itself as one of the best development banks in the country. [break]
The plans include making contribution to the country´s infrastructure development, introducing administrative reforms, expansion of services and ensuring disbursement of quality loans and their timely recovery.
The bank, which has a paid-up capital of Rs 415.8 million, has also laid out plans to float shares to the public to raise its capital base.
Issuing a statement on the occasion of its 55th anniversary on Saturday, the bank said it would initiate process to turn itself into a successful infrastructure development bank.
In an effort to expand its outreach, the bank has also announced plans to add two more branches in the capital and three outside Kathmandu Valley. Similarly, setting up an extension counter inside Singha Durbar and expansion of branchless banking service are also on the cards.
The bank has also given high priority to expanding mobile and internet banking services, and extension of remittance service using modern technology.
The bank has also laid out plans to identify new avenues for investment and issue additional loans to productive as well as deprived sectors.