Kathmandu. Integrated business of Global IME Bank and Bank of Kathmandu has started. Prime Minister Pushpa Kamal Dahal 'Prachanda' and Bank President Chandra Prasad Dhakal jointly launched the formal opening of the integrated business.

After the merger with BOK, the integrated business started under the name of Global IME Bank Limited. After the merger, the central office of the bank will remain in Kamaladi, where the central office of Global IME Bank is currently located. After the merger with BOK, Global IME has become the largest bank in the country.

On the occasion of the launch of the integrated business, Chairman Dhakal said that the merged bank will be the largest bank in Nepal in terms of total capital, paid-up capital and business size.

After the merger, the total capital of the bank is 57 billion rupees, the paid-up capital is 35.77 billion rupees, the total assets of the bank are 5 trillion 5 billion, the total deposit is 400 billion, and the total loan has reached more than 379 billion.

Merged  21 financial institutions, then became the number one Global IME Bank

Global IME Bank has merged about two dozen banks and financial institutions so far. Since its inception, 21 financial institutions have merged with Global IME, which has become the country's largest commercial bank.

5 commercial banks, 10 development banks and 6 finance companies will be included in the Global IME, which will be formed by merging 21 banks and financial institutions.

Dhakal, Chairman of Global IME Bank, said, 'Global has come to this position today by merging 21 banks and financial institutions. We are not two plus two four, but because we went for the merger with the goal of five, we have not only succeeded, but according to the policy of the National Bank, we have also encouraged other banks and financial institutions to go for the merger. Creative and qualitative changes should be made in the financial sector. That is our main priority," Dhakal said.

Janata Bank, Laxmi Bank and Commerce and Trust Bank have also merged with Global. Banks include Gulmi Development Bank, Social Development Bank, Relival Development Bank, Pacific Development Bank, Consumer Development Bank, Triveni Development Bank. Similarly, Dry Development, Bright Development, Public Development and Siddharth Development Bank have also joined the Global. IME Finance, Lord Buddha Finance, Hath Way Finance, Shubalakshmi Finance and Nepal Awas Finance are also included in the global.

New board of directors and management team was formed

After the merger, it will be the largest bank in Nepal in terms of paid-up capital and business size. Chairman Chandra Prasad Dhakal will be the chairman of the new board of directors of Global IME Bank formed after the merger with BOK.

Along with him, 5 people from Global IME and 2 people from Bank of Kathmandu will be in the directorship. It has been agreed that Krishna Prasad Sharma, Devendra Pratap Shah, Cabinet Shreth and Ram Bahadur Bhandari will be appointed as directors from Global IME Bank. Similarly, it has been agreed to make Radesh Pant and Madan Lal Joshi directors from Bank of Kathmandu.

After the merger, Ratnaraj Bajracharya will be the Chief Executive Officer (CEO) of the bank, while Shravan Kumar Maskey, the Chief Executive Officer (CEO) of BOK will be the Senior Deputy Chief Executive Officer.

More than 1 thousand branch network, three foreign contact offices

After the merger of the two banks, there are a total of 385 branch offices, 367 ATMs, 275 branchless banking services, and 61 extended branch offices.

Global IME Bank has expanded its offices not only in Nepal but also abroad. Global IME has become the largest bank in the country in many other financial indicators including 3 contact offices located abroad, more than 4 million customers.

Apart from this, the bank is also in the final stages of opening a branch in South Korea. According to the bank, the bank has contact offices in Australia, UK, South Korea and India.