Global IME Bank, Bank of Kathmandu integrated business from January 9

The integrated business of Global IME Bank and Bank of Kathmandu (BOK) will take place from this January 9.

After the merger of the two banks, the integrated business is going to start under the name of Global IME Bank.

After the merger, the central office of the bank will be located in Kamaladi, Ward No. 28, Kathmandu District, Bagmati Province, where Global IME Limited currently has its central office, the company informed.

Both the banks have gone into the merger at a swap ratio of 1:1. Therefore, shareholders who own 100 shares of Bank of Kathmandu will also get 100 shares of Global IME Bank.

The merger took place in the ratio of 100 shares of Global IME Bank equal to 100 shares of Bank of Kathmandu.

Currently, the paid-up capital of Global IME Bank is 24.5 billion rupees, while the paid-up capital of Bank of Kathmandu is 11.26 billion rupees.

After the merger, the paid-up capital of the bank will reach around 36 billion rupees.

Ratnaraj Bajracharya, CEO of Global IME Bank, will be the Chief Executive Officer (CEO) of the merged bank.

Bank of Kathmandu CEO Shrawan Lal Maske will become Senior Deputy Chief Executive Officer (DCEO).