Global IME Bank to start joint transaction after successful acquisition of Hathway Finance from Bhadra 18; Final nod from NRB received

Global IME Bank Limited (GBIME) have received final approval from Nepal Rastra Bank (NRB) to commence its joint transaction after successful acquisition of Hathway Finance Limited. The joint entity will formally start its operation from Bhadra 18, 2076.

Both the companies had already called upon a special general meeting (SGM) on Shrawan 14, 2076 to present, discuss and approve various aspects of the acquisition and GBIME SGM unanimously endorsed the earlier decision to acquire Hathway Finance in the share swap ratio of 1:0.42.

Following the acquisition process, the paid up capital of the bank will scale up to Rs 10.43 arba, 141 branches, deposit figure of more than Rs 125 arba, loan disbursement of Rs 114 arba. The bank has also signed a merger agreement with Janata Bank due to which the transaction of GBIME is on halt in NEPSE.