Global IME Bank Approves 10% Dividend at 20th AGM

Global IME Bank Limited has approved a 10% dividend to shareholders from its profit for the fiscal year 2082/83 at its 20th Annual General Meeting held on Friday at Nepal Police Club, Bhrikutimandap, Kathmandu.

The approved dividend comprises 4% bonus shares and 6% cash dividend, including tax. Following the bonus share issuance, the bank’s paid-up capital will reach Rs 39.69 billion.

The AGM also endorsed the bank’s annual report and integrated financial statements. Global IME Bank posted a net profit of Rs 6.04 billion, up 15.90% from the previous fiscal year, while its operating profit stood at Rs 9.60 billion.

The meeting authorized the board to amend the bank’s memorandum and articles of association as required and approved the appointment of an auditor for the upcoming fiscal year.

Global IME Bank, the first private-sector commercial bank in Nepal to expand its network across all 77 districts, currently operates 341 branches, 366 ATMs, 147 branchless banking centres and 69 extension and revenue collection counters, along with three overseas representative offices.

The bank also recently contributed Rs 57.59 million to the Prime Minister’s Disaster Relief Fund for relief and rescue efforts following floods in the Bhotekoshi and Trishuli rivers.