KATHMANDU (REPUBLICA): The Special General Meeting of Nepal Investment Bank Ltd (NIBL) on Friday approved a proposal of its board of directors (BOD) to acquire Ace Development Bank Ltd.
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Issuing a statement, NIBL said the two entities will provide consolidated service in the name of Nepal Investment Bank Ltd after the acquisition process. NIBL claims that it has highest paid-up capital of Rs 8.7 billion among all banks and financial institutions of the country. “NIBL has been providing banking services to its customers through 47 branch offices and 84 ATM outlets all over the country,” the statement added.
