Kathmandu- Nabil Stock Dealer Limited, a subsidiary of Nabil Bank Limited, celebrated its official inauguration in a prestigious ceremony attended by key figures in the financial sector. The event, held in Kathmandu on Friday, featured the presence of Ramesh Kumar Hamal, Chairman of Nepal Securities Board, Purna Prasad Acharya, CEO of CDS and Clearing Limited (CDSC), Upendra Prasad Paudyal, Chairman of Nabil Bank, and other.
Expressing optimism about the impact of Nabil Stock Dealer’s activities, Chairman Hamal highlighted the potential for qualitative development in the capital market. He commended the historic move to grant permission for subsidiary companies of banks to function as securities traders, adding a new dimension to the overall growth of the capital market.
Chairman Paudyal emphasized Nabil Bank’s commitment to enhancing Nepal’s capital market through the establishment of Nabil Stock Dealer Company. He envisioned importing best practices from other countries to ensure institutional governance.
In his address, CEO Acharya of CDSC expressed confidence in Nabil Stock Dealer’s ability to play a pivotal role in the capital market’s development.
Niraj Giri, Chairman of Nabil Stock Dealer, outlined the company’s mission to carve out a distinctive identity in Nepal’s capital market. He underscored the commitment to becoming a trusted and reliable securities dealer.
Formerly operating under the name Nabil Securities, the company has rebranded itself as Nabil Stock Dealer, with the official opening held recently, despite commencing operations on August 20. Nabil Securities Limited, licensed by the Nepal Securities Board, boasts a paid-up capital of one billion 52 million. Currently offering services such as stock dealing, full-time securities brokerage, and guarantee services, the company plans to expand its portfolio to include margin loan services, investment management, and more in the near future. The resumption of services follows the company obtaining securities brokerage permission (securities broker number 77) from the Nepal Stock Exchange.
