Global IME Bank Starts Integrated Transaction

Chandra Dhakal’s dream to establish Global IME Bank as the largest commercial bank of Nepal comes true

Dec. 7, 2019, 4:17 p.m.

Although he enters late in the banking sector, Chandra Dhakal, chairman of Global IME Bank, proves that he has a well planned strategy and vision to lead the banking sector.

He proves it. Having so many innovative ideas, Dhakal has been investing in various sectors of Nepal. He turns Chandragiri Hill a historical, spiritual, natural and recreation center for all in Kathmandu Valley.

After the completion of the merger process, Global IME Bank and Janata Bank becomes country’s largest commercial bank with Rs. 24 billion paid-up capital. The bank has begun integrated transactions from today becoming the country’s largest commercial bank.

Industrialist Chandra Dhakal is chairman of Global IME Bank and Parshuram Kunwar is its chief executive officer.

Both the banks have completed the merger process and the merged entity has started integrated transaction under the name of Global IME Bank. The merger between these two banks also means that the number of commercial banks in the country has come down to 27 at present.

GIME photo E.jpg

Finance Minister Yubaraj Khatiwoda attended the program as a chief guest. Nepal Rastra Bank (NRB) had approved the merger plan of these two big commercial banks and had given them three months to complete the process and launch operations as one unit in September.

Addressing the program, Finance Minister Dr. Yubaraj Khatiwada advised the banks to give priority to public benefits and interests. He expressed the hope that Global IME Bank should now keep public interest. Citing that a bank becoming bigger in size also means enhanced capacity to invest, he urged Global IME to raise its investment in mega projects across different sectors.

As usually his tone, finance minister Dr. Khatiwada criticize the policies of banks to give high priority to their promoters and many facilities being provided to the chief executive officers.

He said that banks are giving priority to the CEO’s facilities rather than the interest of common people. “

Governor of Nepal Rastra Bank Chiranjibi Nepal said that the merger between Global IME Bank and Janata Bank will encourage other commercial banks to opt for mergers. He also asked the board of directors of banks not to put undue pressure on the chief executive officers to increase profits.

According to a press release issued by the bank, the paid-up capital of Global IME Bank has reached Rs 24 billion making it the largest commercial bank of the country. Similarly, Global IME Bank now has more than 300 branches, 295 ATMs and 33 extension counters across the country.

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