CVC Finance Limited, a financial institution acquired 60% shares of CAPM Advisory Limited aiming to deliver best values to its customers.
The merchant banking subsidiary will allow CVC Finance to engage in non-funded and fee-based income in the areas of portfolio management, equity and debt issue management, corporate advisory services, bringing in FDI and other associated businesses, said a press release.
CAPM Advisory Limited officially became a subsidiary of CVC Finance Limited after a share subscription ceremony was held on Monday.
Managing Director, Syed Minhaj Ahmed, and Deputy Managing Director, Shah Wareef Hossain, of CVC Finance Limited and managing director and CEO, Tania Sharmin of CAPM Advisory Limited joined the ceremony with top officials from both organisations.
The Managing Director of CVC Finance Limited, Syed Minhaj Ahmed said "The acquisition of majority shares in a fully functional merchant bank i.e; CAPM Advisory Limited will create synergy for corporate and individual clients of both the companies, which in turn will add to the profitability of both the companies."
CAPM Advisory Limited was incorporated as a private limited company under Companies Act, 1994 in November 2011 and licensed as a full-fledged Merchant Banker and Portfolio Manager under Bangladesh Securities and Exchanges Commission (Merchant Banker and Portfolio Manager) Rules, 1996 in April 2012.
CVC Finance Limited is a fast-growing financial institution incorporate in 2015. Established corporate and state-owned entities like Shadharon Bima Corporation, Investment Corporation of Bangladesh (ICB) reinforces its core strength.
Reputed local and foreign companies and business groups like Khan Brothers Ship Building Ltd, Amanat Shah Weaving Processing Ltd, Moon Ready wears Ltd, Padma Glass Ltd and Kowloon Capital Ltd, Hong Kong have taken stake in CVC Finance.
CVC Finance Limited has a diverse product portfolio that includes traditional lending and deposit products. It has been resilient in this pandemic to deliver the best value to its customer. Along with the traditional products, it has focused on creating alternate delivery channels leveraging technology.