16th AGM of Global IME held
KATHMANDU, DECEMBER 9: Global IME Bank Ltd has endorsed the proposal for its merger with the Bank of Kathmandu (BoK). During the 16th annual general meeting (AGM) of the former held in the capital today, its board members gave the very endorsement. The two commercial banks had already reached an understanding to merge with each other in the share swap ratio of 1:1.
The AGM endorsed the board’s proposal to provide 3 percent as bonus shares and 10.6 percent cash dividends to its shareholders from the profit it had made in fiscal 2021/22. Similarly, it decided to raise its authorized capital from Rs 25 billion to Rs 50 billion
After the endorsement of the bonus shares, the paid-up capital of the bank will scale up to Rs 24. 50 billion. In the previous fiscal, the operating profit of the bank stood at Rs 7.18 billion while its net profit amounted to Rs 4.95 billion.
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