The Governor of Nepal Rastra Bank Dr Bijaya Nath Bhattarai inaugurated the corporate building of Ace Finance Company Ltd (Bittiya Sanstha) on Wednesday.

Dr Bijaya Nath Bhattarai inaugurating the corporate building of Ace Finance Company Ltd

Dr Bijaya Nath Bhattarai inaugurating the corporate building of Ace Finance Company Ltd
(File Photo)
Located in Naryachour, Naxal, the building occupies 2 ropanis of land. The financial institution has invested a total of Rs. 47 million on land and construction of the building.

The building has a basement parking space that can accommodate 24 cars and is equipped with high tech security features and Wi Fi connectivity.

Ace is proposing a 42.11 percent dividend to its shareholders soon. Nepal Rastra Bank has already given approval for 40 percent bonus shares and 2.11 percent cash dividend subject to AGM approval.

In fiscal year 2062/63 Ace assets grew from Rs. 976 million to Rs. 1,105 million and operating profit grew from Rs. 27,211,178 to Rs. 41,093,970. The net profit grew from Rs. 16,003,518 to Rs. 25,142,000 and return on capital increased by 41 percent.