Global IME Bank's 18th AGM passes 5.5 percent bonus share dividend

KATHMANDU: Global IME Bank Limited held its 18th Annual General Meeting in Kathmandu on Thursday.

The general meeting approved the bank's proposal to shareholders for a 5.5 percent bonus share dividend from its retained earnings and capital adjustment fund for fiscal year 2023/24.

The general meeting approved the annual report and integrated financial statements presented by the bank's Chairman Chandra Prasad Dhakal on behalf of the Board of Directors, as well as a proposal to amend the memorandum of association and regulations to reflect the capital increase that will be maintained following the distribution of bonus shares.

In fiscal year 2023/24, the bank made Rs 12.48 billion in operating profit and Rs 6.13 billion in after-tax profits.

After the proposed distribution of bonus shares, the bank's paid-up capital will be Rs 38.11 billion.

At the general meeting, Chairman Dhakal stated that the bank is dedicated to paying adequate dividends to shareholders while fully following with the policies declared by the Government of Nepal and Nepal Rastra Bank.

He stated that the bank intends to maintain its balanced expansion of new business areas under its corporate strategic plan.

The Global IME Bank has been honoured as the best bank in Nepal in two categories under the “Best Bank Award 2024” of Global Finance and “Euro Money Award for Excellence 2024”.

Global IME Bank is a private sector commercial bank with a branch network in all 77 districts of the country.

The bank has been providing service to customers through more than 1,100 service centres, including 354 branch offices, 384 ATMs, 255 branchless banking services, 68 extension and revenue collection counters and three foreign representative offices.

The bank has been providing financial services to Nepali citizens from all over the world through remittance services.

The bank has been contributing to the economic prosperity of Nepal by operating remittance services from countries like the US, UK, Canada, Australia, Malaysia, South Korea, Japan, Saudi Arabia, Qatar, UAE, Bahrain, Kuwait, Jordan and India.