Incorporated in the middle eighties, Nicco Uco Alliance Credit, earlier Nicco Uco Financial Services is engaged in financial services. Sanpaolo Hambro Nicco Finance was merged with the company from Jul.'93. It is the first finance company to have participation of three prestigious foreign institutions -- International Finance Corporation, Washington; Sanpaolo Bank, Italy; and Hambos Bank, UK; -- along with the Uco Bank as its shareholders.
In 1995-96, company issued rights shares in the ratio of 1:1 to eligible shareholders. In 1995 the company merged with Nicco Investments for further expansion and growth of business.
Overseas Sanmar Financial Limited was amalgamated with the Company and as per the Scheme of Amalgamation, one share of Nicco Uco Alliance Credit Limited was allotted for one share of Overseas Sanmar Financial Limited.