NIC Asia Bank was originally established as Nepal Industrial and Commercial Bank on 21 July 1998. It was renamed NIC Asia Bank on 30 June 2013 after merging with Bank of Asia, marking the first merger between two commercial banks in Nepalese banking history.
Following the merger, the bank was recognized as 'Bank of the Year' for Nepal by The Banker, a Financial Times publication, an honor it had also received in 2007. The bank's head office is located on Pragya Marga, Kamaladi, Kathmandu.
NIC Asia is one of the largest commercial banks in Nepal by branch network and customer base, with a wide range of services including consumer banking, corporate banking, mortgage loans, private banking, asset management, and credit cards. It is internationally connected through SWIFT code NICENPKA.
The bank also operates NIC Asia Capital Limited, a wholly owned subsidiary providing merchant banking services.