header banner

NIDC plans to reduce non-performing loan to below 10%

alt=
By No Author
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.



Related story

Nepal’s BFIs have only 1.16 percent nonperforming loans, the lo...

Related Stories
ECONOMY

Sunrise Bank acquires NIDC Capital Markets

Sunrise-Bank-merger.jpg
ECONOMY

Cabinet okays RBB, NIDC merger proposal

Cabinet okays RBB, NIDC merger proposal
ECONOMY

Sunrise to acquire NIDC Capital Markets

Sunrise to acquire NIDC Capital Markets
ECONOMY

NAC struggles to secure concessional loan from int...

NACdomestic_20200921103745.jpg
SOCIETY

Vitamin 'A' and de-worming tablets being administe...

Vitamin 'A' and de-worming tablets being administered to children below five years nationwide