Nepal Life will take 51 percent share of National Merchant Banker

KATHMANDU: AUGUST 29 – Nepal Life Insurance Company Limited has signed a Memorandum of Understanding (MoU) to purchase 51% founder shares of National Merchant Banker Limited, an institution approved by the Nepal Securities Board.

The MoU was signed by Santosh Prasai, Chief Executive Officer on behalf of Nepal Life and Navin Baskota, Chief Executive Officer on behalf of National Merchant Banker.

After the purchase of the shares by Nepal Life, the company’s issued and paid-up capital will be 300 million. The event was attended by the Chairmen and members of the Board of Directors of both the companies. On the occasion, Deputy General Manager of Nepal Life Amit Kayal expressed happiness over the investment made by Nepal Life Insurance in the Investment Banker Company.

Chief Executive Officer of National Merchant Banker Nabin Baskota thanked the management of Nepal Life and said that it will continue to work as a reliable and strong banker company with other licenses issued by the Nepal Securities Board in the coming days.

Addressing the program, Chief Executive Officer of Nepal Life Santosh Prasai said that Nepal Life has succeeded in remaining the best brand in the life insurance sector by winning the trust of all and now National Merchant Banker will also be established as a successful company in Nepal’s capital market.