Global IME Bank Announces Impressive Fiscal Year Results at 17th AGM

In a momentous revelation during its 17th Annual General Meeting (AGM) held today in the capital, Global IME Bank reported a staggering gross profit of 6.81 billion in the last fiscal year. The announcement comes as a testament to the bank’s robust financial performance and strategic management.

During the AGM, the bank proposed a generous distribution of profits to its shareholders, indicating a commitment to delivering value. The proposal included the distribution of 1 per cent as bonus shares and 8 per cent as cash dividends, demonstrating a dedication to rewarding shareholders for their continued support.

Upon approval and implementation of the proposed dividends, the total dividend distribution would amount to 9 per cent. This distribution strategy is anticipated to significantly benefit the shareholders, fostering a positive relationship between the bank and its investor community.

As a result of this dividend distribution, the paid-up capital of Global IME Bank is expected to reach an impressive Rs 36.12 billion, showcasing the bank’s solid financial foundation and growth trajectory.

In the fiscal year 2021/22, Global IME Bank achieved remarkable milestones, collecting a total deposit of Rs 439 billion and extending credit facilities of Rs 374 billion. These figures underscore the bank’s role as a major player in the financial sector, catering to the diverse financial needs of its customers.

The bank also reported an operating profit of Rs 12.69 billion, reflecting its efficiency in managing operations and generating sustainable returns. This financial achievement further establishes Global IME Bank as a reliable and competitive entity in the banking industry.

With a commitment to excellence and financial prudence, Global IME Bank continues to strengthen its position in the market, contributing to the overall growth and stability of the banking sector. The disclosed financial results and proposed dividends further instill confidence in the bank’s stakeholders, reaffirming its commitment to delivering value and fostering a mutually beneficial relationship with its shareholders.