Kathmandu. Nepal Rastra Bank has given final approval to Global IME-Bank of Kathmandu (BOK) and Nepal Investment-Mega Bank merger. The meeting of the Rashtra Bank Board of Directors on January 14 gave the final approval to the merger of Global IME and BOK.

With the approval from the National Bank, Global IME and BOK have joined forces to start integrated business under the name of 'Global IME Bank'. The annual general meeting held on the same day on the 23rd of November of these two in Bangkok has passed the proposal regarding the merger.

These two banks are going to merge in a share swap ratio of 1:1. After the merger, the total paid-up capital will reach 34.41 billion.

On behalf of Global IME Bank, there will be 5 people including Chairman Chandra Prasad Dhakal and 2 people from BOK. . The Chief Executive Officer of Global IME Bank will be Ratnaraj Bajracharya as the Bank's Chief Executive Officer.

After the merger of the two banks, Global IME BOK Limited will be the largest bank in the country with a total of 385 branch offices, 367 ATMs, 275 branchless banking services, 61 extended branch offices, 3 foreign contact offices, more than 4 million customers and many other financial indicators. .

On the other hand, the Rashtra Bank's meeting on the same day has also given final approval to the merger of Nepal Investment Bank and Mega Bank. With the approval from the National Bank, the way has been opened for integrated business under the name of 'Nepal Investment Mega Bank Limited'.

These two banks will be merged in such a way that Nepal Investment will get 90 shares equal to 100 shares of Mega Bank and 100:90 shares. It has already been agreed that Jyotiprakash Pandey of Investments will be the CEO of the bank and Prithvi Bahadur Pandey will be the chairman. After the merger, the total paid-up capital of the bank will be 32 billion 81 crores.