ICRA reaffirms NIC ASIA Bank’s “LA-” credit rating

ICRA Nepal(International Credit Rating Agency Moody’s Nepal Associate) has reaffirmed the rating of LA- assigned to “7.25% NIC ASIA Bond 2077” after their annual surveillance exercise.

Dec. 18, 2014, 5:45 p.m. Published in Magazine Issue: Vol: 08 No. -12 December. 5- 2014 (Mansir 19, 2071)

ICRA Nepal(International Credit Rating Agency Moody’s Nepal Associate) has reaffirmed the rating of LA-  assigned to “7.25% NIC ASIA Bond 2077” after their annual surveillance exercise.

Instruments with this rating are considered to have adequate degree of safety regarding timely servicing of financial obligations and carry low credit risk.

"The Bank had issued the NPR 500 million 7 year bond in fiscal year 2013/14 with a coupon rate of 7.25% per annum said Neetika Ghimire Corporate Communication Officer, NIC Asia Bank in a press release.

NIC ASIA has announced a dividend of 30% (15% cash and 15% stock) for FY 2013/14 to be confirmed at its 17thAGM being held on 11th January 2015. The Bank made a net profit of NPR 831 million last year, an increase of 30% over FY 2012/13.

 

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