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Ace Development Bank’s 21st AGM

image0032The 21st Annual General Meeting (AGM) of Ace Development Bank Limited chaired by Mr. Rajib Raj Bhandari, director of Ace Development Bank Ltd, was successfully convened on Friday, at Amrit Bhog, Kalikasthan, Kathmandu. The AGM approved bonus share of 20.25%.
At the end of Ashad 2073, the total depos its was Rs. 7,589,069,000.00, total assets Rs.10,908,468,000.00 and loans and advances Rs. 6,753, L59,000.00. The ratio of the credit to deposits and core capital is 15.51%.
Ace Development Bank Ltd. is providing its services through 12 branches including the main branch and 1 extension counter. Moreover, Ace Development Bank Ltd. also has a wholly owned merchant banking subsidiary company, Ace Capital Limited.
MOU has been signed on 21/04/2073 between Ace Development Bank Ltd and Nepal Investment Bank Ltd. for acquisition of Ace Development Bank Ltd. by NIBL.

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