Global IME Bank, Bank of Kathmandu sign merger agreement

KATHMANDU: The Global IME Bank and the Bank of Kathmandu signed a merger agreement at Hotel Yak and Yeti on Thursday.

Chairman of the Global IME Bank Chandra Prasad Dhakal and Chairman of the Bank of Kathmandu Prakash Shrestha signed the agreement.

The new bank will be called Global IME BoK Limited.

It has also been agreed that the Board of Directors will have five members including Chairman Dhakal from the Global IME Bank and two members from the Bank of Kathmandu.

After the merger, the bank’s paid-up capital will reach Rs 34. 41 billion.

Similarly, the capital fund will be Rs 52. 29 billion.

Earlier, the the Global IME Bank had merged with the Janata Bank.