Global IME and Commerz and Trust Bank (CTB) have formally started operations following merger between the two on Wednesday.
These banks have started joint business under the name Global IME Bank as per the agreement signed between Global IME Chairman Chandra Prasad Dhakal and chairman of Commerz and Trust Bank Chairman Shovakar Neupane in February.
Speaking on the occasion of formal merger, Finance Minister Dr. Ramsharan Mahat said the merger between the two banks would be vital example to attract other banks and financial institutions (BFIs) to go for merger.
Nepal Rastra Bank (NRB) Governor Dr. Yubaraj Khatiwada also urged other BFIs to opt for merger in order to compete in the international market. The central has been in favour of merger policy to save the BFIs from financial crisis.
Global Bank had first merged with IME Finance and Lord Buddha Finance to become Global IME Bank. Similarly, it had also merged with Social Development Bank and Gulmi Development Bank.
After the merger, the bank has paid-up capital of Rs 4.1 billion and total deposit of Rs 48 billion.
Source
These banks have started joint business under the name Global IME Bank as per the agreement signed between Global IME Chairman Chandra Prasad Dhakal and chairman of Commerz and Trust Bank Chairman Shovakar Neupane in February.
Speaking on the occasion of formal merger, Finance Minister Dr. Ramsharan Mahat said the merger between the two banks would be vital example to attract other banks and financial institutions (BFIs) to go for merger.
Nepal Rastra Bank (NRB) Governor Dr. Yubaraj Khatiwada also urged other BFIs to opt for merger in order to compete in the international market. The central has been in favour of merger policy to save the BFIs from financial crisis.
Global Bank had first merged with IME Finance and Lord Buddha Finance to become Global IME Bank. Similarly, it had also merged with Social Development Bank and Gulmi Development Bank.
After the merger, the bank has paid-up capital of Rs 4.1 billion and total deposit of Rs 48 billion.
Source
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