YEAR EVENTS 1984 - The company was incorporated. The company is involved in leasing, bill discounting, and trading in shares and securities. - The company has become the first Finance Company in the country to have participation of three prestigious foreign institutions i.e. International Finance Corporation,- Washington, Sanpaolo Bank Italy and Hambros Bank, U.K. alongwith a Nationalised Bank i.e. Uco Bank, as its shareholders. The merger has augmented the company's resources and ushered in economies of scale in terms of managerial costs and infrastructure. 1993 - Sanpaolo Hambro Nicco Finance Ltd. has been merged with Nicco Uco Financial Services Ltd. effective 1st July. 1996 - The Company issued the Rights Shares in the ratio of 1:1 during the year and these shares were allotted to eligible shareholders on 25th August 1995. These Rights Shares will also qualify for the proportionate dividend, in terms of the Letter of Offer dated 8th June, 1995. 1997 - Nicco Uco Financial Services Ltd. has been awarded the ISO 9001 certificate by Standards Australia Quality Assurance Services Pvt. Ltd. (SAQAS) for its quality systems. - The International Finance Corporation has signed an agreement with Nicco Uco Financial Services Ltd to provide a loan of $10 million, of which $5 million will be syndicated. 1999 - The board of directors has approved the merger of Overseas Sanmar Financial Ltd (OSFL) with the company. One equity share of the company will be allotted for one share of OSFL held. - Nicco Uco Alliance Credit (Nicco Uco) has entered into a strategic alliance with Westdeutsche Landesbank (WestLB), London, for marketing the latter's forfaiting products in the country. 2000 -Nicco Uco Alliance Credit Ltd has entered into a working arrangement with Pricewaterhouse Coopers (PwC) for implementation of a centralised web enabled financial system.The system will cover the formation of a website with the creation of a state-of-the-art portal. -Fitch Ratings India has downgraded the rating of the Fixed Deposit Programme of the company AA+ and the rating of the Rs 40-crore NCD Programme from AA+ to AA. 2003 -Mr P N Ramanathan was appointed as Managing Director of the company. |
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