Global IME Bank convenes 13th AGM endorsing 25.5% dividend; also gives green signal for merger with Janata Bank revamping the bank to leading position

Global IME Bank has convened its 13^th AGM on Mangsir 2, 2076 endorsing 25.5% dividend i.e. 12.75% bonus shares and 12.75% cash dividend to its shareholders.

The bank had earned Rs 2.78 arba in the fiscal year 2075-76 as per the audited financial reports. Following the capitalization of bonus shares, bank’s paid up capital shall rise to Rs 11.76 arba.

The AGM also endorsed the ongoing merger process with Janata Bank following which the bank shall now approach Nepal Rastra Bank seeking its final permission for joint operation. The AGM also allowed the bank to increase the authorized capital of the bank to Rs 25 arba from existing Rs 16 arba.

Both the banks had signed final merger agreement on Kartik 8 following which Mr. Chandra Prasad Dhakal will continue as the chairman of the new institution, Mr. Parshuram Kunwor Chhetri as CEO, Mr. Mahesh Sharma Dhakal as Senior DY CEO with 5 BoDs from erstwhile Global and two BoDs from erstwhile Janata Bank.

Following the merger, the new bank will have about Rs 19 arba in paid up capital, more than Rs 2.10 Kharba in deposit collection and around Rs 2 kharba as loan disbursement, more than 300 banking centers, more than 3200 employees.