NIBL Capital Markets — a wholly owned subsidiary of Nepal Investment Bank — has received the depository membership licence from CDS and Clearing Ltd (CDSC) to start services as a depository participant (DP).
NIBL Capital, a licensed merchant banker from the Securities Board of Nepal (Sebon), aims to provide depository participant services to investors through the branch network of its parent company –– Nepal Investment Bank.
A depository participant is an intermediary that maintains electronic accounts of securities on behalf of investors and provides services like the transfer and sale of securities.
NIBL Capital Markets will work closely with CDSC to dematerialise and convert the current stock of paper shares held by domestic investors to an electronic format.
"With its strength of professional expertise, talent, strong capital base, and sturdy long-term vision, NIBL Capital wishes to serve as an agent of change in achieving a common goal of economic growth and prosperity," said chief executive of the company Shivanth Pande.
"We have established NIBL Capital with a mission to be a premier provider of investment banking services, seeking profitable growth through client value creation, stewardship, integrity, and innovation," he said, adding that at NIBL Capital, we look forward to help our clients not only realise and plan their financial goals, but most importantly, to help achieve their goals with a well-conceived balance of risk and return.
Currently, NIBL Capital renders a comprehensive and wide range of financial solutions ranging from Issue and Sales Management, Securities Underwriting and Share Registration to Portfolio Management Services.Similarly, NIBL Capital has also applied for a mutual fund licence.