Global IME Bank convenes 13th AGM endorsing 25.5% dividend

Global IME Bank has convened its 13th AGM on November 18 endorsing 25.5% dividend; 12.75% bonus shares and 12.75% cash dividend to its shareholders. The bank had earned Rs 2.78 billiom in the fiscal year 2075-76 as per the audited financial reports. Following the capitalisation of bonus shares, bank’s paid up capital shall rise to Rs 11.76 billiom. The AGM also endorsed the ongoing merger process with Janata Bank following which the bank shall now approach Nepal Rastra Bank seeking its final permission for joint operation. The AGM also allowed the bank to increase the authorised capital of the bank to Rs 25 billiom from existing Rs 16 billion. Both the banks had signed final merger agreement on October 25 following which Chandra Prasad Dhakal will continue as the Chairman of the new institution, Parshuram Kunwor Chhetri as CEO, Mahesh Sharma Dhakal as Senior Dy CEO with five BoDs from former Global and two BoDs from former Janata Bank. Following the merger, the new bank will have about Rs 19 billion in paid up capital, more than Rs 2.10 hundred billion in deposit collection and around Rs 2 hundred billion as loan disbursement, more than 300 banking centres and more than 3200 employees.

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