Dhakal elected unopposed as Chairman of the Board of Directors of Global IME Bank

Kathmandu. The 14th Annual General Meeting of Global IME Bank Limited was held on Wednesday, December 12, 2077 BS at the Bank’s Corporate Building, Kamaladi, Kathmandu

Kathmandu. The 14th Annual General Meeting of Global IME Bank Limited was held on Wednesday, December 12, 2077 BS at the Bank’s Corporate Building, Kamaladi, Kathmandu.

The 14th Annual General Meeting of the Bank concluded by passing the decision to pay 16 percent dividend by offering 14 percent bonus share and 2 percent cash dividend to the shareholders from the total profits of the Fiscal Year 2076/77.

The bank had earned an operating profit of Rs 4.17 billion and a post-tax profit of Rs 2.91 billion in the last fiscal year 2076/77. After the distribution of bonus shares, the bank’s paid up capital will reach Rs. 21.63 billion. Presenting the report of the Fiscal Year 2076/77. On behalf of the Board of Directors at the General Assembly, Chairman of the Bank Chandra Prasad Dhakal said that Global IME Bank has been committed to the implementation of the policies announced by the Government of Nepal and Nepal Rastra Bank since its inception.

He said that 18 banks and financial institutions have been incorporated in the bank so far in line with the merger and acquisition policy adopted by the federal government and Nepal Rastra Bank. Stating that Global IME Bank has become the largest and strongest bank in the country after the merger with the former Janata Bank Nepal, he expressed his commitment to provide more accessible banking services in the coming days as per the aspirations of the share rich.

He said that the bank would continue to grow its deposits, credit investment and other areas of business expansion in line with its business strategy as usual, adding that it would provide more effective services to the customers by providing customer-friendly state-of-the-art digital technology.

In FY 2076/77, the interest income of the bank has increased by Rs. 6.96 billion over the previous year. Despite the increase in revenue, the bank’s net profit rose by only 5.31 percent to Rs 2.91 billion in the same period due to the corona virus, which had to release up to Rs 1.95 billion in risk management. At present, the bank has collected more than Rs 249 billion in deposits and invested more than Rs 213 billion in loans.

Similarly, the Bank has been providing banking services from around 800 service centers with a network of 264 branches in 73 districts with the objective of providing access to banking services to all sectors and classes. The bank has more than 3,000 employees. The bank has been providing direct services to around 2.2 million customers.