Kathmandu. Global IME Bank Limited and Bank of Kathmandu have submitted a joint application to Nepal Rastra Bank on Wednesday for final approval regarding the merger. Chandra Prasad Dhakal, Chairman of Global IME Bank Limited and Prakash Shrestha, Chairman of Bank of Kathmandu Limited, submitted a joint application to Nepal Rastra Bank Governor Mahaprasad Adhikari. The board of directors and chief executive officers of both banks were present in the program.

Before this, a preliminary agreement was signed between Global IME Bank Limited and Bank of Kathmandu Limited on 2nd Ashadh 2079 and the final agreement was signed on 28th Kartik 2079 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. The said approval has been passed by both the banks on the 23rd of Masinar in the general meeting of both the banks.