Global IME's special AGM on March 4 to finalize merger of Commerz and Trust

ShareSansar, February 18:

Global IME Bank Limited is holding its special Annual General Meeting on March 4 to endorse the merger of Commerz and Trust Bank Nepal Limited.

The special AGM scheduled at Hotel Wishwa in Birgunj will duly endorse the merger by ratifying Dye Diligence Report and the swap ratio for the merger.

Another important decision the AGM is due to take is to convert more than 51 percent of the bank’s promoter shares into ordinary shares, according to a notice issued by the bank today.

In December, Nepal Rastra Bank had formally endorsed the plan of Global IME Bank and Commerz and Trust Bank to merge.
 
The two commercial banks had inked a deal for the merger on November 10 at a reported swap ration of 100:65.

This is the second merger between the commercial banks in the country. The first commercial banks to merge were NIC and Bank of Asia.