NIC Asia Bank

NIC Asia Bank is a commercial bank that provides financial services within Nepal. The bank accepts deposit accounts from individuals and businesses. It extends loan products to personal, commercial, and trade‑finance customers. In addition, NIC Asia Bank offers remittance services and electronic banking channels such as internet banking, mobile banking, and ATM access. All of its activities are conducted under the regulatory oversight of Nepal Rastra Bank, the country’s central bank.

NIC Asia Bank operates a dedicated SWIFT server to process cross‑border payment instructions for its customers. On 4 November 2017, during a festival period, the bank’s SWIFT server was subjected to a cyberattack. The attackers generated unauthorized payment orders amounting to roughly Rs 460 million, directing funds to beneficiaries located in six different countries via intermediary banks. Upon detection, the bank promptly engaged external forensic investigators to analyse the breach and trace the fraudulent transactions. Simultaneously, NIC Asia Bank coordinated with Nepal Rastra Bank and the Nepal Police’s Central Investigation Bureau to pursue recovery efforts. Through these collaborative actions, approximately Rs 400 million of the illicit funds were recovered, while about Rs 60 million remained unrecovered. An internal review conducted by the bank discovered that employees assigned to SWIFT operations had used a dedicated system computer for non‑work‑related activities. As a result of this finding, six staff members were reassigned from their SWIFT‑related duties. The Central Investigation Bureau subsequently opened an inquiry to determine whether any external or internal parties were involved in the security lapse.

The sources referenced in this prompt do not disclose any information concerning NIC Asia Bank’s ownership structure, major shareholders, or parent‑subsidiary relationships. Consequently, no details about whether the bank is publicly listed, privately held, or affiliated with a larger financial group can be confirmed from the available material. The organisational context states that the bank’s headquarters is located in Nepal, although the specific city is not mentioned in the provided information. No further data regarding the total number of branches, employee count, or asset size are supplied in the sources consulted. Therefore, this profile is confined to the verified facts concerning the bank’s core banking functions, its SWIFT‑related incident, and the location of its headquarters.