NIC Asia Bank on recovery path to reclaim glorious past
Summary
NIC Asia Bank is rapidly recovering to regain its strong market position by consolidating assets, improving capital, and advancing digitization amidst economic challenges.
Key Points
- NIC Asia Bank is in a rapid recovery phase focused on asset quality improvement and capital consolidation.
- The bank proposes a 50% right share issuance aiming to raise Rs 7.45 billion, pending regulatory approval.
- NIC Asia Bank pursues full digitization and branch network optimization to improve operational efficiency.
- Despite economic slowdown and loan recovery challenges, the bank has increased deposits and customer base to around 4 million.
