Ace Development Bank held its 21st Annual General Meeting which was chaired by Rajib Raj Bhandari, Director the bank. The AGM approved bonus share of 20.25 %. Till mid-June, total deposits of the bank stood at Rs 7.58 billion and total assets was recorded at Rs 10.90 billion. The ratio of the credit to deposits and core capital is 15.51 percent. “Ace Development Bank Ltd is providing its services through 12 branches including the main branch and one extension counter,â€ says a press release issued by the Bank adding, “The Bank also has a wholly owned merchant banking subsidiary company, Ace Capital Limited. A MOU has been signed between Ace Development Bank and Nepal Investment Bank for acquisition of Ace Development Bank Ltd by NIBL.