KATHMANDU: Global IME Bank has started joint operation after the acquisition of Reliable Development Bank on Sunday.

The joint operation was inaugurated by Finance Minister Gyanendra Bahadur Karki. Reliable Development Bank had been in operation for 11 years and had 17 branches.

Prior to the acquisition, Reliable had deposits worth Rs eight billion and had floated loans worth Rs seven billion. Its paid-up capital was at Rs 1.01 billion.

After the acquisition, Global IME Bank now has deposits worth Rs 97.70 billion and its loans stand at Rs 82 billion. Its paid-up capital now stands at Rs 8.08 billion. Global IME now also has a network of 112 branches and 114 ATMs.