Global IME Bank to start joint operation from Asadh 25 after acquiring Reliable Dev Bank

Global IME Bank Limited (GBIME) has received final approval from NRB to acquire Reliable Development Bank Limited (REDBL) and their joint transaction is going to start from Asadh 25, 2074. The joint operation will start in the name of “Global IME Bank Limited” as a class “A” commercial bank. Global IME Bank had acquired Reliable Development Bank in a share swap ratio of 100:82.90. Shareholders having 100 shares of Reliable Development Bank will be given 82.90 shares of Global IME Bank. GBIME has earned net profit of Rs 1.48 arba in the third quarter of the FY 2073/74. Its paid up capital after acquisition has reached Rs 8.08 arba, thereby becoming the fourth commercial bank (after Rastriya Banijya Bank, Nepal Investment Bank and Nepal Bank) to reach NRB’s minimum paid up capital of Rs 8 arba.