Sujit Kumar Shakya Appointed CEO of NIC Asia Bank
3rd November 2025, Kathmandu
NIC Asia Bank Limited, one of Nepal’s leading commercial banks, has announced a significant leadership change, appointing seasoned banking veteran Sujit Kumar Shakya as its new Chief Executive Officer (CEO).
Sujit Shakya CEO NIC Asia Bank
The decision, made during the bank’s Board of Directors meeting on 17 Kartik 2082 (Monday), marks a strategic move to instill stability and leverage a wealth of industry experience at the bank’s helm. Mr. Shakya’s appointment is for a four-year term, and he is scheduled to assume his full responsibilities within the next 30 days.
This transition is highly anticipated, given the strategic role NIC Asia Bank plays in the Nepali financial landscape, known for its aggressive market expansion and digital innovation.
Sujit Kumar Shakya: A Career Defined by Experience
Mr. Shakya brings a formidable track record of nearly 30 years of experience in the banking sector, having served in various senior management and leadership capacities across multiple major financial institutions. His extensive background is expected to provide the strategic direction and leadership continuity that NIC Asia Bank seeks during this period of transition.
Current and Former Senior Roles
Prior to his appointment at NIC Asia Bank, Mr. Shakya held the position of Senior Deputy CEO at Nabil Bank, one of Nepal’s first and largest private-sector banks. His tenure at Nabil Bank also included a period as Acting CEO, demonstrating his capacity to lead a major financial institution through key phases of its operation.
His professional journey includes significant senior management roles at other key institutions that have shaped Nepal’s financial sector:
- Global IME Bank and its predecessor, Janata Bank, where he continued to serve after the merger between the two institutions.
- Civil Bank, where he contributed to its initial growth phases.
This diverse exposure across different corporate cultures and strategic phases of large-scale commercial banks equips Mr. Shakya with a comprehensive understanding of the market dynamics, regulatory compliance, and risk management required to navigate the challenges faced by an aggressive market player like NIC Asia Bank. He is noted for his strong business acumen and commitment to excellence in the banking and financial services sector.
The Context of the Appointment
The CEO position at NIC Asia Bank became vacant following the unexpected resignation of former CEO Roshan Kumar Neupane. Mr. Neupane stepped down approximately 13 months prior to the expiration of his contract term, which was set for November 2026.
Reason for Previous CEO’s Departure
While Mr. Neupane officially cited health issues as the reason for his resignation, various media reports and analysts have pointed to a wider context. During his tenure, NIC Asia Bank pursued a highly aggressive loan expansion strategy that, while initially boosting profitability, eventually led to significant pressure on the bank’s financial indicators, including a sharp increase in the Non-Performing Loan (NPL) ratio. Reports suggest that the resulting decline in the bank’s profitability and distributable reserves placed considerable pressure on the management to resign, despite the bank’s spokesperson affirming it was due to health reasons.
In the interim period between Mr. Neupane’s resignation and Mr. Shakya’s appointment, Santosh Kumar Rathi served as the Acting CEO, ensuring the continued smooth operation of the bank. The appointment of Mr. Shakya, an industry veteran with a strong governance background, signals a potential shift toward prioritizing disciplined growth, asset quality, and robust risk management at NIC Asia Bank. The bank’s board is clearly looking to leverage his long-standing experience to provide the leadership continuity and stability needed to restore investor confidence and financial discipline.
For More: Sujit Shakya CEO NIC Asia Bank
