INTRODUCTION TO NEPAL CREDIT AND COMMERCE BANK (NCC)
Nepal Credit and Commerce Bank, popularly known as NCC Bank, has been a significant player in Nepal’s banking sector since 1996. With a rich history, extensive network, and commitment to excellence, NCC Bank has become a trusted name for individuals and businesses alike. In this article, we’ll explore and review the bank’s history, operations, and achievements, giving you a comprehensive insight and understanding of this great leading financial institution called NCC.
A Brief History of Nepal Credit and Commerce Bank (NCC)
NCC Bank was initially formed as a joint venture between Nepalese promoters and Bank of Ceylon in 1996. In 2002, the shares and management were transferred to Nepalese promoters, marking a new era for the bank. Over the years, NCC Bank has undergone significant mergers, including the amalgamation with four regional development banks in 2017 and the recent merger with Kumari Bank in 2022.
Initially it was created as Nepal bank of Ceylon Ltd, in 1996 and ever since then it has undergone several mergers with that of 2022, being the latest.(Investopedia)
Operations and Network
As one of the longest serving banks, NCC boasts a vast network of 355 branches, 244 Automated Teller Machines(ATM), and 51 extension counters across NEPAL.
NCC Bank has made banking services accessible to a wide range of customers. The bank offers various deposit accounts, loans, credit cards, and online banking facilities, catering to diverse financial needs.
Headquarters and Leadership of NCC
The head office and corporate office of NCC Bank are located in Bagbazar, Kathmandu. Ramesh Raj Aryal is the CEO of the merged entity, Kumari Bank, while Ram Chandra Khanal serves as the Senior Deputy CEO.
Financial Strength of NCC
As of 2022, NCC Bank had a paid-up capital of NPR 11.13 billion (approximately USD 96 million). Following the merger with Kumari Bank, the combined entity boasts a paid-up capital of over NPR 26 billion (approximately USD 224 million), solidifying its position as a leading financial institution in Nepal.
FAQS
How do I open an account with Nepa Credit and Commerce Bank?
To open an account with NCC, just walk into any of their branches nationwide with your valid documents, and speak with a representative of the bank to get your account done.
Can I open an account with NCC online?
Yes, you can actually open an account with NCC online by downloading their digital banking app called Sanchayee. Search for it on your phone app stores, and register with your valid documents.
Does NCC offer a fixed deposit account?
Yes, Nepal Credit and Commerce Bank (NCC Bank) offers fixed deposit accounts
How to apply?
– Visit the NCC Bank website or any of their branches nationwide and speak with a representative
– Choose the tenure and amount for your fixed deposit account.
– Submit the required documents, which may include your identification and proof of address.
– Make the initial deposit to open your fixed deposit account.
Put it in mind that specific requirements and interest rates may vary depending on the type of fixed deposit account and your individual circumstances.
Conclusion
NCC Bank’s commitment to excellence, extensive network, and financial strength make it a reliable choice for individuals and businesses in Nepal. With a rich history and a strong leadership team, the bank continues to play a vital role in the country’s banking sector. Whether you’re a customer or an investor, understanding NCC Bank’s journey and operations can help you make informed decisions and appreciate the bank’s contributions to Nepal’s financial landscape.
