NIC Asia Bank Limited (NICA) has released its unaudited financial report for the fourth quarter of the fiscal year 2081. According to the report, the bank's net profit has significantly decreased compared to the previous fiscal year.

Key Financial Highlights:

Net Profit: By the end of Asar 2081, the bank earned a net profit of NPR 1.38 billion, which is a 68.91% decrease compared to the same period last year when the bank had a net profit of NPR 4.44 billion.
Net Interest Income: The bank's net interest income decreased by 13.39%, dropping to NPR 9.72 billion. Additionally, net fee and commission income also decreased by 13.88%, reaching NPR 1.52 billion.
Operating Income and Profit: The bank's total operating income decreased by 12.36%, while operating profit declined by 53.83%, reaching NPR 1.41 billion.
Impairment Charge: During the review period, the bank's impairment charge reached NPR 2.84 billion, with the percentage of non-performing loans increasing from 0.11% to 1.74%.
Earnings Per Share (EPS): The bank's EPS decreased by NPR 29.17, falling to NPR 9.26, clearly reflecting the decline in the bank's profit.

Financial Position:

NIC Asia Bank has a paid-up capital of NPR 14.91 billion and has accumulated a reserve fund of NPR 15.25 billion. During the review period, the bank's deposits grew by 13.86% to NPR 2.9 trillion, while loans increased by 3.95% to NPR 2.72 trillion.

Conclusion:

NIC Asia Bank faced financial challenges in the fourth quarter of the fiscal year 2081. The bank experienced declines in profit, interest income, and EPS, while the increase in impairment charges further impacted its overall performance. The bank will need to implement strategic plans to address these challenges in the coming days.