Some eight commercial banks have applied for the refinancing facility from the central bank. Out of the eight commercial banks -Citizens Bank International, DCBL, Kumari Bank, NIC Bank, Global Bank, Prime Commercial Bank, NCC Bank, Kist Bank, Laxmi Bank -Citizens Bank International has already received Rs 430 million.
Similarly, the NIC Bank -that has consistently focused on channeling its credit to productive sectors contributing to the country's economic growth -has also applied for Rs 440 million refinancing facility. As of midApril, it has floated 90 per cent of it's total April, it has flo loan portfolio of about Rs 14 billion in over 2,000 diversified industries and businesses, said the bank.
NIC has floated loans in a wide range of industries including food processing, steel, cloth, yarn, cement, paints, jute, ca paints, jute, carpets, paper, handicrafts, hotels, hospitals, education, agriculture, leather, plastics, cables, bricks, and IT. "It has only around 10 per cent exposure in real estate portfolio," it claimed. The bank -that has a large network of 25 branches spread from Jhapa in the east to Mahendra Nagar in the far west -has announced a 27 per cent growth in net profit to Rs 319 million in the first nine months of the current fiscal year compared with the same period last year.
The mid-term evaluation of the Monetary Policy has introduced refinancing facility to pump in liquidity in the banking system for productive sectors like tourism, hydropower, exports, agriculture, small and medium scale industry and other productive sectors.
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