18 Chait, Kathmandu. Nabil Bank’s 8 percent unredeemable unsecured preference shares have started trading in the secondary market. The trading of 50 million shares with a face value of Rs 100 per share and a paid-up price of Rs 5 billion started on 16th of Chait.

This type of non-redeemable unreserved preference shares traded in the secondary market will be bought and sold only among institutional investors. Also, general investors, securities traders licensed by the Nepal Securities Board (including securities brokers, merchant bankers) and collective investment funds are not allowed to buy and sell these preference shares.

After Nepal Rastra Bank and Nepal Securities Board made a policy arrangement regarding unredeemable unsecured preference shares, Nabil Bank got approval to issue this type of preference shares for the first time. The bank believes that after the issuance of the instrument, the capital base will be strengthened through additional primary capital, and the bank’s risk-bearing capacity will increase and it will provide more support in business expansion.

Nabil Bank has been providing services through 318 ATM machines with a network of 268 branches across the country. The bank has been providing services to more than 2.5 million customers. The bank, which has been providing quality banking services for four decades, recently embraced the concept of sustainable banking and launched N Bank for digital banking.