NIBL ACE Capital joint operation starts

The merger of NIBL Capital Markets Ltd. with Ace Capital, through a Memorandum of Understanding (MoU), was announced in November. The unification has now come into effect with joint operations between the two companies under the brand name ‘NIBL Ace Capital’ 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 account for its clients. They will also provide RTA/RTS services for 38 companies, over 10 lakh shareholders. The unification will increase the number of branches providing efficient services to clients. At present, NIBL Ace Capital has four existing branches, and three are in the pipeline. All branches of Nepal Investment Bank will provide services related to Depositary Participants.