Reliable Development Bank Merges with Global IME Bank Ltd

A special general assembly meeting of Global IME Bank Ltd passed a special resolution for acquisition of Reliable Development Bank.

June 23, 2017, 9:30 p.m.

A special general assembly meeting of Global IME Bank Ltd passed a special resolution for acquisition of Reliable Development Bank. With a total paid up capital of Rs.1 billion, Reliable Development Banks has been in banking sector for eleven Years.

The special assembly also decided to provide 100 shares equivalent of Reliance Share to 82.90 of Global IME in SWAP. After this the paid up capital of Global IME reached Rs.8 billion 83 million.

According to a press release issued by the Global IME Bank, the proposal was passed unanimously.

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