Global IME Bank and Pacific Development Bank joint operation from Falgun 1 as Global IME Bank Limited

Nepal Rastra Bank had given the final approval for the acquisition of Pacific Development Bank Limited by Global IME Bank Limited on Magh 13, 2073. The joint operation of both companies will start from Falgun 1, 2073. The new entity will be named as “Global IME Bank Limited” and will start the integrated business as a class “A” commercial bank. After the acquisition, the head office of the commercial bank will be in Pani Pokhari, Kathmandu. The swap ratio of Global IME Bank and Pacific Dev Bank was fixed at 100:69.26. Global IME Bank is also acquiring Reliable Development Bank. Global IME Bank has earned Rs 90.95 crore in the second quarter of the FY 2073/74. Its LTP stood at Rs 389 as of today. Also See: List of merger and acquisitions