KATHMANDU: Following successful merger between Global IME Bank and Bank of Kathmandu (BoK), their joint operation under the name 'Global IME Bank Ltd' is commencing from January 9, Monday.
Earlier, the annual general meetings of both the banks had endorsed the special proposal for merger, while Nepal Rastra Bank has also granted the final approval for the merger, as per a media release.
Global IME's banking transactions will be halted on Saturday and Sunday for data migration, but customers will be able to use mobile banking, internet banking, debit and credit cards, ATM transactions and remittance services provided by agents.
Following the merger, the bank's total capital will reach Rs 57 billion, paid-up capital will reach Rs 35.77 billion with total deposits of Rs 408 billion and loans of Rs 376 billion.
A version of this article appears in the print on January 8, 2023, of The Himalayan Times.
