Janata Bank convenes 10th AGM giving green signal to 100:85 share swap ratio for merger with Global IME Bank; agrees to create synergy for becoming leading bank of the nation

Janata Bank Nepal has convened its 10^th AGM on Mangsir 2, 2076 under the leadership of its chairman Mr. Keshav Bahadur Rayamajhi. The AGM has endorsed the bonus proposal of 6% bonus shares and 6% cash dividend to the shareholders for the previous FY.

The AGM has also endorsed the decision to finalize the ongoing merger process with Global IME Bank and to move to the central bank seeking its final nod to begin joint operation as soon as possible. The AGM also endorsed the share swap ratio of 100:85 between Global and Janata Bank, as per the media statement.

Both the banks had signed final merger agreement on Kartik 8 following which Mr. Chandra Prasad Dhakal will continue as the chairman of the new institution, Mr. Parshuram Kunwor Chhetri as CEO, Mr. Mahesh Sharma Dhakal as Senior DY CEO with 5 BoDs from erstwhile Global and two BoDs from erstwhile Janata Bank.

Following the merger, the new bank will have about Rs 19 arba in paid up capital, more than Rs 2.10 Kharba in deposit collection and around Rs 2 kharba as loan disbursement, more than 300 banking centers, more than 3200 employees.