Global IME Bank to complete acquisition of Hathway Finance within 3 months; adds another institution to its long list of acquired entities

Mon, Mar 18, 2019 10:53 AM on Corporate, Latest,

Global IME Bank has signed a MoU to acquire Hathway Finance Company. The agreement regarding the same was signed between member of acquisition and merger committee of the bank Mr. Surdarshan Shrestha and his counterpart in Hathway Finance Mr. Navaraj Nepal amid a program on Falgun 30, 2075.

The acquisition process is expected to complete within 3 months, as per the media statement. The finance company had a paid up value of Rs 30 crore and was trouble ridden institution as Arun Finance before being acquired by Hathway Holding.

The bank currently provides its services from 134 branches, 142 ATM outlets, 9 extension counters, 15 revenue collection counters, 121 branchless banking units and 3 foreign relations offices.