Global IME Bank and Bank of Kathmandu applied to Rastra Bank for final approval merger

KATHMANDU, Dec 14: Global IME Bank and Bank of Kathmandu have submitted a joint application to Nepal Rastra Bank on Wednesday for final approval regarding the merger.

Global IME Bank Chairman Chandra Prasad Dhakal and Bank of Kathmandu Chairman Prakash Shrestha submitted a joint application to Nepal Rastra Bank Governor Maha Prasad Adhikari. The board of directors and chief executive officers of both banks were present in the program.

Earlier, Global IME Bank and Bank of Kathmandu signed a preliminary agreement on June 16, 2022 and a final agreement on November 14, 2022 for the purpose of merger.

The board of directors of both the banks have approved the share swap ratio of 1:1 for the merger. Both banks have already passed the approval on December 9th in the general meeting of both banks.