Global IME Bank inks final merger deal with Bank of Kathmandu; becoming largest bank in the nation thus amalgamating 21 BFIs so far

Global IME Bank and Bank of Kathmandu have final merger agreement to form a new entity in the name of Global IME BoK Bank on Kartik 28, 2079.

The MoU was signed between Chairman of Global IME Bank Mr. Chandra Prasad Dhakal and his counterpart at Bank of Kathmandu Mr. Prakash Shrestha. Earlier, these banks had agreed to merge in a share swap ratio of 1;1.

With this agreement, the revamped institution will have core capital base of Rs 57 Arba, paid up capital of Rs 35.77 Arba, deposit collection of Rs 400 Arba, loans of Rs 379 Arba, thus forming the largest bank in the nation. The new board will have five members from then Global IME Bank with Mr. Chandra Prasad Dhakal as chairman while the erstwhile Bank of Kathmandu will have 2 members represented in the new board. Now CEO of Global IME Bank Mr. Ratna Raj Bajracharya will continue serving as the CEO even in the new institution, as per the media statement.

By the end of the first quarter of the ongoing fiscal year, this bank has Rs 1.47 Arba in net profit, 396 branches, 368 ATM outlets, 275 branchless banking units, 61 extension counters, 3 foreign relations offices, 40 lakh plus customers.