Global IME's special AGM today to finalize merger of Commerz and Trust

ShareSansar, March 5:

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

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

Commerz and Trust has already held its special AGM for the same purpose a few days back.

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.

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 have seal a deal for the merger on November 10 at a 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.