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Published On: September 26, 2016 08:20 PM NPT By: Republica

Sunrise to acquire NIDC Capital Markets

KATHMANDU, Sept 26: Sunrise Bank Ltd is in the process to acquire NIDC Capital Markets Ltd -- a merchant banker.

After the acquisition of NIDC Capital Markets, the paid-up capital of the bank will reach Rs 5.5 billion,according to a statement issued by the bank.

The bank had acquired Narayani National Finance Ltd in June.

Sunrise Bank has mobilized total deposits of Rs 53 billion and expanded loans worth Rs 47 billion.

The bank has already decided to provide 33.33 percent stock dividend to its shareholders from the profit generated in the last fiscal year.

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