NIBL Ace Capital to start operation today
Kathmandu, February 10
The unification of NIBL Capital Markets Ltd with Ace Capital is coming into effect with joint operations between the two companies under the brand name ‘NIBL Ace Capital’ starting from Sunday.
The merger of NIBL Capital Markets Ltd with Ace Capital was announced on November 10 through a memorandum of understanding (MoU).
The post-merger business scenario is promising and the synergy created through this collaboration will reflect positively on future business prospects and services of the company, as per a media release. “The post-merger paid-up capital of the consolidated entity has reached Rs 270 million, which is the highest paid-up capital in the Nepali capital markets industry.”
Post-merger, NIBL Ace Capital will cater combined depository participant (DP) services to more than 142,000 DEMAT accounts for its clients. They will also provide RTA/RTS services for 38 companies, with over one million shareholders.
With the joint operation of NIBL Ace Capital kicking off through four existing branches, three more branches are in the pipeline, as per the release.
Furthermore, all branches of Nepal Investment Bank will provide services related to DPs, while 134 dedicated staff from both the entities will join forces to provide quality services to the company’s clientele.