$user = $this->Session->read('Auth.User');
//find the group of logged user
$groupId = $user['Group']['id'];
$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/view.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '16315',
'article_category_id' => '1',
'title' => 'Global IME Bank Signs Merger Agreement with BoK',
'sub_title' => '',
'summary' => 'November 15: Global IME Bank has signed a merger agreement with Bank of Kathmandu in what is believed to be a deal to create the biggest bank of Nepal in terms of capital and business.',
'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">November 15: Global IME Bank has signed a merger agreement with Bank of Kathmandu in what is believed to be a deal to create the biggest bank of Nepal in terms of capital and business.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The two banks signed an agreement to this effect on Monday. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to a statement issued by Global IME Bank, its chairman Chandra Prasad Dhakal and the chairman of BoK Prakash Shrestha signed the agreement on behalf of their respective banks.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">After the merger, the total capital of the merged entity will rise to Rs 57 billion while the paid-up capital will increase to Rs 35.77 billion. The total deposits of the merged entity will cross Rs 400 billion while the credit flow will stand at Rs 379 billion, making it the biggest bank of Nepal in terms of paid-up capital and volume of business.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Board of directors of both the banks have approved a swap ratio of 1:1 based upon the recommendation of an evaluation report. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">As per the recommendation, the name of the new entity will be Global IME BoK Limited and the new board of directors will be represented by five members of Global IME Bank including its chairman. Likewise, the new board of directors will have two members from BoK.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Global IME Bank’s CEO Ratna Raj Bajracharya will continue his job as the CEO after the merger.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Both the banks have earned net profit of Rs 1.47 billion by mid-October in the current fiscal year. After the merger, the new entity will have a total of 396 branches, 368 ATMs, 275 branchless banking facilities and 61 extension counters and three contact offices abroad. The new bank will have more than 4 million customers.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The two banks believe that the merger will help deliver better services to the customers.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Currently there are 26 commercial banks operating in Nepal.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Banks and financial institutions in Nepal have started merging with each other or acquiring other banks as per the directive of Nepal Rastra Bank. The central bank of Nepal has adopted a policy to encourage merger/acquisition of banks so that the banks can cope with financial crisis better in the future.</span></span></span></span></p>
<p> </p>
<p> </p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p>
',
'published' => true,
'created' => '2022-11-15',
'modified' => '2022-11-15',
'keywords' => '',
'description' => '',
'sortorder' => '16056',
'image' => '20221115064330_1668431648404.jpg',
'article_date' => '2022-11-15 18:42:57',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '16315',
'article_category_id' => '1',
'title' => 'Global IME Bank Signs Merger Agreement with BoK',
'sub_title' => '',
'summary' => 'November 15: Global IME Bank has signed a merger agreement with Bank of Kathmandu in what is believed to be a deal to create the biggest bank of Nepal in terms of capital and business.',
'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">November 15: Global IME Bank has signed a merger agreement with Bank of Kathmandu in what is believed to be a deal to create the biggest bank of Nepal in terms of capital and business.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The two banks signed an agreement to this effect on Monday. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to a statement issued by Global IME Bank, its chairman Chandra Prasad Dhakal and the chairman of BoK Prakash Shrestha signed the agreement on behalf of their respective banks.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">After the merger, the total capital of the merged entity will rise to Rs 57 billion while the paid-up capital will increase to Rs 35.77 billion. The total deposits of the merged entity will cross Rs 400 billion while the credit flow will stand at Rs 379 billion, making it the biggest bank of Nepal in terms of paid-up capital and volume of business.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Board of directors of both the banks have approved a swap ratio of 1:1 based upon the recommendation of an evaluation report. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">As per the recommendation, the name of the new entity will be Global IME BoK Limited and the new board of directors will be represented by five members of Global IME Bank including its chairman. Likewise, the new board of directors will have two members from BoK.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Global IME Bank’s CEO Ratna Raj Bajracharya will continue his job as the CEO after the merger.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Both the banks have earned net profit of Rs 1.47 billion by mid-October in the current fiscal year. After the merger, the new entity will have a total of 396 branches, 368 ATMs, 275 branchless banking facilities and 61 extension counters and three contact offices abroad. The new bank will have more than 4 million customers.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The two banks believe that the merger will help deliver better services to the customers.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Currently there are 26 commercial banks operating in Nepal.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Banks and financial institutions in Nepal have started merging with each other or acquiring other banks as per the directive of Nepal Rastra Bank. The central bank of Nepal has adopted a policy to encourage merger/acquisition of banks so that the banks can cope with financial crisis better in the future.</span></span></span></span></p>
<p> </p>
<p> </p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p>
',
'published' => true,
'created' => '2022-11-15',
'modified' => '2022-11-15',
'keywords' => '',
'description' => '',
'sortorder' => '16056',
'image' => '20221115064330_1668431648404.jpg',
'article_date' => '2022-11-15 18:42:57',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '16315',
'hit' => '1873'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$image = 'https://old.newbusinessage.com/app/webroot/img/news/20221115064330_1668431648404.jpg'
$user = null
include - APP/View/Articles/view.ctp, line 115
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
$user = $this->Session->read('Auth.User');
//find the group of logged user
$groupId = $user['Group']['id'];
$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/view.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '16315',
'article_category_id' => '1',
'title' => 'Global IME Bank Signs Merger Agreement with BoK',
'sub_title' => '',
'summary' => 'November 15: Global IME Bank has signed a merger agreement with Bank of Kathmandu in what is believed to be a deal to create the biggest bank of Nepal in terms of capital and business.',
'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">November 15: Global IME Bank has signed a merger agreement with Bank of Kathmandu in what is believed to be a deal to create the biggest bank of Nepal in terms of capital and business.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The two banks signed an agreement to this effect on Monday. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to a statement issued by Global IME Bank, its chairman Chandra Prasad Dhakal and the chairman of BoK Prakash Shrestha signed the agreement on behalf of their respective banks.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">After the merger, the total capital of the merged entity will rise to Rs 57 billion while the paid-up capital will increase to Rs 35.77 billion. The total deposits of the merged entity will cross Rs 400 billion while the credit flow will stand at Rs 379 billion, making it the biggest bank of Nepal in terms of paid-up capital and volume of business.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Board of directors of both the banks have approved a swap ratio of 1:1 based upon the recommendation of an evaluation report. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">As per the recommendation, the name of the new entity will be Global IME BoK Limited and the new board of directors will be represented by five members of Global IME Bank including its chairman. Likewise, the new board of directors will have two members from BoK.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Global IME Bank’s CEO Ratna Raj Bajracharya will continue his job as the CEO after the merger.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Both the banks have earned net profit of Rs 1.47 billion by mid-October in the current fiscal year. After the merger, the new entity will have a total of 396 branches, 368 ATMs, 275 branchless banking facilities and 61 extension counters and three contact offices abroad. The new bank will have more than 4 million customers.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The two banks believe that the merger will help deliver better services to the customers.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Currently there are 26 commercial banks operating in Nepal.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Banks and financial institutions in Nepal have started merging with each other or acquiring other banks as per the directive of Nepal Rastra Bank. The central bank of Nepal has adopted a policy to encourage merger/acquisition of banks so that the banks can cope with financial crisis better in the future.</span></span></span></span></p>
<p> </p>
<p> </p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p>
',
'published' => true,
'created' => '2022-11-15',
'modified' => '2022-11-15',
'keywords' => '',
'description' => '',
'sortorder' => '16056',
'image' => '20221115064330_1668431648404.jpg',
'article_date' => '2022-11-15 18:42:57',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '16315',
'article_category_id' => '1',
'title' => 'Global IME Bank Signs Merger Agreement with BoK',
'sub_title' => '',
'summary' => 'November 15: Global IME Bank has signed a merger agreement with Bank of Kathmandu in what is believed to be a deal to create the biggest bank of Nepal in terms of capital and business.',
'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">November 15: Global IME Bank has signed a merger agreement with Bank of Kathmandu in what is believed to be a deal to create the biggest bank of Nepal in terms of capital and business.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The two banks signed an agreement to this effect on Monday. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to a statement issued by Global IME Bank, its chairman Chandra Prasad Dhakal and the chairman of BoK Prakash Shrestha signed the agreement on behalf of their respective banks.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">After the merger, the total capital of the merged entity will rise to Rs 57 billion while the paid-up capital will increase to Rs 35.77 billion. The total deposits of the merged entity will cross Rs 400 billion while the credit flow will stand at Rs 379 billion, making it the biggest bank of Nepal in terms of paid-up capital and volume of business.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Board of directors of both the banks have approved a swap ratio of 1:1 based upon the recommendation of an evaluation report. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">As per the recommendation, the name of the new entity will be Global IME BoK Limited and the new board of directors will be represented by five members of Global IME Bank including its chairman. Likewise, the new board of directors will have two members from BoK.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Global IME Bank’s CEO Ratna Raj Bajracharya will continue his job as the CEO after the merger.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Both the banks have earned net profit of Rs 1.47 billion by mid-October in the current fiscal year. After the merger, the new entity will have a total of 396 branches, 368 ATMs, 275 branchless banking facilities and 61 extension counters and three contact offices abroad. The new bank will have more than 4 million customers.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The two banks believe that the merger will help deliver better services to the customers.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Currently there are 26 commercial banks operating in Nepal.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Banks and financial institutions in Nepal have started merging with each other or acquiring other banks as per the directive of Nepal Rastra Bank. The central bank of Nepal has adopted a policy to encourage merger/acquisition of banks so that the banks can cope with financial crisis better in the future.</span></span></span></span></p>
<p> </p>
<p> </p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p>
',
'published' => true,
'created' => '2022-11-15',
'modified' => '2022-11-15',
'keywords' => '',
'description' => '',
'sortorder' => '16056',
'image' => '20221115064330_1668431648404.jpg',
'article_date' => '2022-11-15 18:42:57',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '16315',
'hit' => '1873'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$image = 'https://old.newbusinessage.com/app/webroot/img/news/20221115064330_1668431648404.jpg'
$user = null
include - APP/View/Articles/view.ctp, line 115
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 116]
//find the group of logged user
$groupId = $user['Group']['id'];
$user_id=$user["id"];
$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/view.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '16315',
'article_category_id' => '1',
'title' => 'Global IME Bank Signs Merger Agreement with BoK',
'sub_title' => '',
'summary' => 'November 15: Global IME Bank has signed a merger agreement with Bank of Kathmandu in what is believed to be a deal to create the biggest bank of Nepal in terms of capital and business.',
'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">November 15: Global IME Bank has signed a merger agreement with Bank of Kathmandu in what is believed to be a deal to create the biggest bank of Nepal in terms of capital and business.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The two banks signed an agreement to this effect on Monday. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to a statement issued by Global IME Bank, its chairman Chandra Prasad Dhakal and the chairman of BoK Prakash Shrestha signed the agreement on behalf of their respective banks.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">After the merger, the total capital of the merged entity will rise to Rs 57 billion while the paid-up capital will increase to Rs 35.77 billion. The total deposits of the merged entity will cross Rs 400 billion while the credit flow will stand at Rs 379 billion, making it the biggest bank of Nepal in terms of paid-up capital and volume of business.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Board of directors of both the banks have approved a swap ratio of 1:1 based upon the recommendation of an evaluation report. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">As per the recommendation, the name of the new entity will be Global IME BoK Limited and the new board of directors will be represented by five members of Global IME Bank including its chairman. Likewise, the new board of directors will have two members from BoK.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Global IME Bank’s CEO Ratna Raj Bajracharya will continue his job as the CEO after the merger.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Both the banks have earned net profit of Rs 1.47 billion by mid-October in the current fiscal year. After the merger, the new entity will have a total of 396 branches, 368 ATMs, 275 branchless banking facilities and 61 extension counters and three contact offices abroad. The new bank will have more than 4 million customers.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The two banks believe that the merger will help deliver better services to the customers.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Currently there are 26 commercial banks operating in Nepal.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Banks and financial institutions in Nepal have started merging with each other or acquiring other banks as per the directive of Nepal Rastra Bank. The central bank of Nepal has adopted a policy to encourage merger/acquisition of banks so that the banks can cope with financial crisis better in the future.</span></span></span></span></p>
<p> </p>
<p> </p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p>
',
'published' => true,
'created' => '2022-11-15',
'modified' => '2022-11-15',
'keywords' => '',
'description' => '',
'sortorder' => '16056',
'image' => '20221115064330_1668431648404.jpg',
'article_date' => '2022-11-15 18:42:57',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '16315',
'article_category_id' => '1',
'title' => 'Global IME Bank Signs Merger Agreement with BoK',
'sub_title' => '',
'summary' => 'November 15: Global IME Bank has signed a merger agreement with Bank of Kathmandu in what is believed to be a deal to create the biggest bank of Nepal in terms of capital and business.',
'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">November 15: Global IME Bank has signed a merger agreement with Bank of Kathmandu in what is believed to be a deal to create the biggest bank of Nepal in terms of capital and business.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The two banks signed an agreement to this effect on Monday. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to a statement issued by Global IME Bank, its chairman Chandra Prasad Dhakal and the chairman of BoK Prakash Shrestha signed the agreement on behalf of their respective banks.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">After the merger, the total capital of the merged entity will rise to Rs 57 billion while the paid-up capital will increase to Rs 35.77 billion. The total deposits of the merged entity will cross Rs 400 billion while the credit flow will stand at Rs 379 billion, making it the biggest bank of Nepal in terms of paid-up capital and volume of business.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Board of directors of both the banks have approved a swap ratio of 1:1 based upon the recommendation of an evaluation report. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">As per the recommendation, the name of the new entity will be Global IME BoK Limited and the new board of directors will be represented by five members of Global IME Bank including its chairman. Likewise, the new board of directors will have two members from BoK.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Global IME Bank’s CEO Ratna Raj Bajracharya will continue his job as the CEO after the merger.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Both the banks have earned net profit of Rs 1.47 billion by mid-October in the current fiscal year. After the merger, the new entity will have a total of 396 branches, 368 ATMs, 275 branchless banking facilities and 61 extension counters and three contact offices abroad. The new bank will have more than 4 million customers.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The two banks believe that the merger will help deliver better services to the customers.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Currently there are 26 commercial banks operating in Nepal.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Banks and financial institutions in Nepal have started merging with each other or acquiring other banks as per the directive of Nepal Rastra Bank. The central bank of Nepal has adopted a policy to encourage merger/acquisition of banks so that the banks can cope with financial crisis better in the future.</span></span></span></span></p>
<p> </p>
<p> </p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p>
',
'published' => true,
'created' => '2022-11-15',
'modified' => '2022-11-15',
'keywords' => '',
'description' => '',
'sortorder' => '16056',
'image' => '20221115064330_1668431648404.jpg',
'article_date' => '2022-11-15 18:42:57',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '16315',
'hit' => '1873'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$image = 'https://old.newbusinessage.com/app/webroot/img/news/20221115064330_1668431648404.jpg'
$user = null
$groupId = null
include - APP/View/Articles/view.ctp, line 116
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/view.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '16315',
'article_category_id' => '1',
'title' => 'Global IME Bank Signs Merger Agreement with BoK',
'sub_title' => '',
'summary' => 'November 15: Global IME Bank has signed a merger agreement with Bank of Kathmandu in what is believed to be a deal to create the biggest bank of Nepal in terms of capital and business.',
'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">November 15: Global IME Bank has signed a merger agreement with Bank of Kathmandu in what is believed to be a deal to create the biggest bank of Nepal in terms of capital and business.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The two banks signed an agreement to this effect on Monday. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to a statement issued by Global IME Bank, its chairman Chandra Prasad Dhakal and the chairman of BoK Prakash Shrestha signed the agreement on behalf of their respective banks.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">After the merger, the total capital of the merged entity will rise to Rs 57 billion while the paid-up capital will increase to Rs 35.77 billion. The total deposits of the merged entity will cross Rs 400 billion while the credit flow will stand at Rs 379 billion, making it the biggest bank of Nepal in terms of paid-up capital and volume of business.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Board of directors of both the banks have approved a swap ratio of 1:1 based upon the recommendation of an evaluation report. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">As per the recommendation, the name of the new entity will be Global IME BoK Limited and the new board of directors will be represented by five members of Global IME Bank including its chairman. Likewise, the new board of directors will have two members from BoK.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Global IME Bank’s CEO Ratna Raj Bajracharya will continue his job as the CEO after the merger.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Both the banks have earned net profit of Rs 1.47 billion by mid-October in the current fiscal year. After the merger, the new entity will have a total of 396 branches, 368 ATMs, 275 branchless banking facilities and 61 extension counters and three contact offices abroad. The new bank will have more than 4 million customers.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The two banks believe that the merger will help deliver better services to the customers.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Currently there are 26 commercial banks operating in Nepal.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Banks and financial institutions in Nepal have started merging with each other or acquiring other banks as per the directive of Nepal Rastra Bank. The central bank of Nepal has adopted a policy to encourage merger/acquisition of banks so that the banks can cope with financial crisis better in the future.</span></span></span></span></p>
<p> </p>
<p> </p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p>
',
'published' => true,
'created' => '2022-11-15',
'modified' => '2022-11-15',
'keywords' => '',
'description' => '',
'sortorder' => '16056',
'image' => '20221115064330_1668431648404.jpg',
'article_date' => '2022-11-15 18:42:57',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '16315',
'article_category_id' => '1',
'title' => 'Global IME Bank Signs Merger Agreement with BoK',
'sub_title' => '',
'summary' => 'November 15: Global IME Bank has signed a merger agreement with Bank of Kathmandu in what is believed to be a deal to create the biggest bank of Nepal in terms of capital and business.',
'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">November 15: Global IME Bank has signed a merger agreement with Bank of Kathmandu in what is believed to be a deal to create the biggest bank of Nepal in terms of capital and business.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The two banks signed an agreement to this effect on Monday. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to a statement issued by Global IME Bank, its chairman Chandra Prasad Dhakal and the chairman of BoK Prakash Shrestha signed the agreement on behalf of their respective banks.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">After the merger, the total capital of the merged entity will rise to Rs 57 billion while the paid-up capital will increase to Rs 35.77 billion. The total deposits of the merged entity will cross Rs 400 billion while the credit flow will stand at Rs 379 billion, making it the biggest bank of Nepal in terms of paid-up capital and volume of business.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Board of directors of both the banks have approved a swap ratio of 1:1 based upon the recommendation of an evaluation report. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">As per the recommendation, the name of the new entity will be Global IME BoK Limited and the new board of directors will be represented by five members of Global IME Bank including its chairman. Likewise, the new board of directors will have two members from BoK.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Global IME Bank’s CEO Ratna Raj Bajracharya will continue his job as the CEO after the merger.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Both the banks have earned net profit of Rs 1.47 billion by mid-October in the current fiscal year. After the merger, the new entity will have a total of 396 branches, 368 ATMs, 275 branchless banking facilities and 61 extension counters and three contact offices abroad. The new bank will have more than 4 million customers.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The two banks believe that the merger will help deliver better services to the customers.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Currently there are 26 commercial banks operating in Nepal.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Banks and financial institutions in Nepal have started merging with each other or acquiring other banks as per the directive of Nepal Rastra Bank. The central bank of Nepal has adopted a policy to encourage merger/acquisition of banks so that the banks can cope with financial crisis better in the future.</span></span></span></span></p>
<p> </p>
<p> </p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p>
',
'published' => true,
'created' => '2022-11-15',
'modified' => '2022-11-15',
'keywords' => '',
'description' => '',
'sortorder' => '16056',
'image' => '20221115064330_1668431648404.jpg',
'article_date' => '2022-11-15 18:42:57',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '16315',
'hit' => '1873'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$image = 'https://old.newbusinessage.com/app/webroot/img/news/20221115064330_1668431648404.jpg'
$user = null
$groupId = null
$user_id = null
$date = '2022-11-15 18:42:57'
$dateFromDatabase = (int) 1668517077
$newDate = 'Nov 15, 2022'
$articleView = array(
'article_id' => '16315',
'hit' => '1873'
)
$word_count = (int) 723
$time_to_read = (float) 3.62
$time_to_read_min = (float) 3
$time_to_read_second = (float) 37
include - APP/View/Articles/view.ctp, line 241
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
November 15: Global IME Bank has signed a merger agreement with Bank of Kathmandu in what is believed to be a deal to create the biggest bank of Nepal in terms of capital and business.
The two banks signed an agreement to this effect on Monday.
According to a statement issued by Global IME Bank, its chairman Chandra Prasad Dhakal and the chairman of BoK Prakash Shrestha signed the agreement on behalf of their respective banks.
After the merger, the total capital of the merged entity will rise to Rs 57 billion while the paid-up capital will increase to Rs 35.77 billion. The total deposits of the merged entity will cross Rs 400 billion while the credit flow will stand at Rs 379 billion, making it the biggest bank of Nepal in terms of paid-up capital and volume of business.
Board of directors of both the banks have approved a swap ratio of 1:1 based upon the recommendation of an evaluation report.
As per the recommendation, the name of the new entity will be Global IME BoK Limited and the new board of directors will be represented by five members of Global IME Bank including its chairman. Likewise, the new board of directors will have two members from BoK.
Global IME Bank’s CEO Ratna Raj Bajracharya will continue his job as the CEO after the merger.
Both the banks have earned net profit of Rs 1.47 billion by mid-October in the current fiscal year. After the merger, the new entity will have a total of 396 branches, 368 ATMs, 275 branchless banking facilities and 61 extension counters and three contact offices abroad. The new bank will have more than 4 million customers.
The two banks believe that the merger will help deliver better services to the customers.
Currently there are 26 commercial banks operating in Nepal.
Banks and financial institutions in Nepal have started merging with each other or acquiring other banks as per the directive of Nepal Rastra Bank. The central bank of Nepal has adopted a policy to encourage merger/acquisition of banks so that the banks can cope with financial crisis better in the future.
FormHelper::create() - CORE/Cake/View/Helper/FormHelper.php, line 383
include - APP/View/Articles/view.ctp, line 273
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '16315',
'article_category_id' => '1',
'title' => 'Global IME Bank Signs Merger Agreement with BoK',
'sub_title' => '',
'summary' => 'November 15: Global IME Bank has signed a merger agreement with Bank of Kathmandu in what is believed to be a deal to create the biggest bank of Nepal in terms of capital and business.',
'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">November 15: Global IME Bank has signed a merger agreement with Bank of Kathmandu in what is believed to be a deal to create the biggest bank of Nepal in terms of capital and business.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The two banks signed an agreement to this effect on Monday. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to a statement issued by Global IME Bank, its chairman Chandra Prasad Dhakal and the chairman of BoK Prakash Shrestha signed the agreement on behalf of their respective banks.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">After the merger, the total capital of the merged entity will rise to Rs 57 billion while the paid-up capital will increase to Rs 35.77 billion. The total deposits of the merged entity will cross Rs 400 billion while the credit flow will stand at Rs 379 billion, making it the biggest bank of Nepal in terms of paid-up capital and volume of business.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Board of directors of both the banks have approved a swap ratio of 1:1 based upon the recommendation of an evaluation report. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">As per the recommendation, the name of the new entity will be Global IME BoK Limited and the new board of directors will be represented by five members of Global IME Bank including its chairman. Likewise, the new board of directors will have two members from BoK.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Global IME Bank’s CEO Ratna Raj Bajracharya will continue his job as the CEO after the merger.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Both the banks have earned net profit of Rs 1.47 billion by mid-October in the current fiscal year. After the merger, the new entity will have a total of 396 branches, 368 ATMs, 275 branchless banking facilities and 61 extension counters and three contact offices abroad. The new bank will have more than 4 million customers.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The two banks believe that the merger will help deliver better services to the customers.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Currently there are 26 commercial banks operating in Nepal.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Banks and financial institutions in Nepal have started merging with each other or acquiring other banks as per the directive of Nepal Rastra Bank. The central bank of Nepal has adopted a policy to encourage merger/acquisition of banks so that the banks can cope with financial crisis better in the future.</span></span></span></span></p>
<p> </p>
<p> </p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p>
',
'published' => true,
'created' => '2022-11-15',
'modified' => '2022-11-15',
'keywords' => '',
'description' => '',
'sortorder' => '16056',
'image' => '20221115064330_1668431648404.jpg',
'article_date' => '2022-11-15 18:42:57',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '16315',
'article_category_id' => '1',
'title' => 'Global IME Bank Signs Merger Agreement with BoK',
'sub_title' => '',
'summary' => 'November 15: Global IME Bank has signed a merger agreement with Bank of Kathmandu in what is believed to be a deal to create the biggest bank of Nepal in terms of capital and business.',
'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">November 15: Global IME Bank has signed a merger agreement with Bank of Kathmandu in what is believed to be a deal to create the biggest bank of Nepal in terms of capital and business.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The two banks signed an agreement to this effect on Monday. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to a statement issued by Global IME Bank, its chairman Chandra Prasad Dhakal and the chairman of BoK Prakash Shrestha signed the agreement on behalf of their respective banks.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">After the merger, the total capital of the merged entity will rise to Rs 57 billion while the paid-up capital will increase to Rs 35.77 billion. The total deposits of the merged entity will cross Rs 400 billion while the credit flow will stand at Rs 379 billion, making it the biggest bank of Nepal in terms of paid-up capital and volume of business.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Board of directors of both the banks have approved a swap ratio of 1:1 based upon the recommendation of an evaluation report. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">As per the recommendation, the name of the new entity will be Global IME BoK Limited and the new board of directors will be represented by five members of Global IME Bank including its chairman. Likewise, the new board of directors will have two members from BoK.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Global IME Bank’s CEO Ratna Raj Bajracharya will continue his job as the CEO after the merger.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Both the banks have earned net profit of Rs 1.47 billion by mid-October in the current fiscal year. After the merger, the new entity will have a total of 396 branches, 368 ATMs, 275 branchless banking facilities and 61 extension counters and three contact offices abroad. The new bank will have more than 4 million customers.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The two banks believe that the merger will help deliver better services to the customers.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Currently there are 26 commercial banks operating in Nepal.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Banks and financial institutions in Nepal have started merging with each other or acquiring other banks as per the directive of Nepal Rastra Bank. The central bank of Nepal has adopted a policy to encourage merger/acquisition of banks so that the banks can cope with financial crisis better in the future.</span></span></span></span></p>
<p> </p>
<p> </p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p>
',
'published' => true,
'created' => '2022-11-15',
'modified' => '2022-11-15',
'keywords' => '',
'description' => '',
'sortorder' => '16056',
'image' => '20221115064330_1668431648404.jpg',
'article_date' => '2022-11-15 18:42:57',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '16315',
'hit' => '1873'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '16315',
'article_category_id' => '1',
'title' => 'Global IME Bank Signs Merger Agreement with BoK',
'sub_title' => '',
'summary' => 'November 15: Global IME Bank has signed a merger agreement with Bank of Kathmandu in what is believed to be a deal to create the biggest bank of Nepal in terms of capital and business.',
'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">November 15: Global IME Bank has signed a merger agreement with Bank of Kathmandu in what is believed to be a deal to create the biggest bank of Nepal in terms of capital and business.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The two banks signed an agreement to this effect on Monday. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to a statement issued by Global IME Bank, its chairman Chandra Prasad Dhakal and the chairman of BoK Prakash Shrestha signed the agreement on behalf of their respective banks.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">After the merger, the total capital of the merged entity will rise to Rs 57 billion while the paid-up capital will increase to Rs 35.77 billion. The total deposits of the merged entity will cross Rs 400 billion while the credit flow will stand at Rs 379 billion, making it the biggest bank of Nepal in terms of paid-up capital and volume of business.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Board of directors of both the banks have approved a swap ratio of 1:1 based upon the recommendation of an evaluation report. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">As per the recommendation, the name of the new entity will be Global IME BoK Limited and the new board of directors will be represented by five members of Global IME Bank including its chairman. Likewise, the new board of directors will have two members from BoK.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Global IME Bank’s CEO Ratna Raj Bajracharya will continue his job as the CEO after the merger.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Both the banks have earned net profit of Rs 1.47 billion by mid-October in the current fiscal year. After the merger, the new entity will have a total of 396 branches, 368 ATMs, 275 branchless banking facilities and 61 extension counters and three contact offices abroad. The new bank will have more than 4 million customers.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The two banks believe that the merger will help deliver better services to the customers.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Currently there are 26 commercial banks operating in Nepal.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Banks and financial institutions in Nepal have started merging with each other or acquiring other banks as per the directive of Nepal Rastra Bank. The central bank of Nepal has adopted a policy to encourage merger/acquisition of banks so that the banks can cope with financial crisis better in the future.</span></span></span></span></p>
<p> </p>
<p> </p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p>
',
'published' => true,
'created' => '2022-11-15',
'modified' => '2022-11-15',
'keywords' => '',
'description' => '',
'sortorder' => '16056',
'image' => '20221115064330_1668431648404.jpg',
'article_date' => '2022-11-15 18:42:57',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '16315',
'article_category_id' => '1',
'title' => 'Global IME Bank Signs Merger Agreement with BoK',
'sub_title' => '',
'summary' => 'November 15: Global IME Bank has signed a merger agreement with Bank of Kathmandu in what is believed to be a deal to create the biggest bank of Nepal in terms of capital and business.',
'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">November 15: Global IME Bank has signed a merger agreement with Bank of Kathmandu in what is believed to be a deal to create the biggest bank of Nepal in terms of capital and business.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The two banks signed an agreement to this effect on Monday. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to a statement issued by Global IME Bank, its chairman Chandra Prasad Dhakal and the chairman of BoK Prakash Shrestha signed the agreement on behalf of their respective banks.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">After the merger, the total capital of the merged entity will rise to Rs 57 billion while the paid-up capital will increase to Rs 35.77 billion. The total deposits of the merged entity will cross Rs 400 billion while the credit flow will stand at Rs 379 billion, making it the biggest bank of Nepal in terms of paid-up capital and volume of business.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Board of directors of both the banks have approved a swap ratio of 1:1 based upon the recommendation of an evaluation report. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">As per the recommendation, the name of the new entity will be Global IME BoK Limited and the new board of directors will be represented by five members of Global IME Bank including its chairman. Likewise, the new board of directors will have two members from BoK.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Global IME Bank’s CEO Ratna Raj Bajracharya will continue his job as the CEO after the merger.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Both the banks have earned net profit of Rs 1.47 billion by mid-October in the current fiscal year. After the merger, the new entity will have a total of 396 branches, 368 ATMs, 275 branchless banking facilities and 61 extension counters and three contact offices abroad. The new bank will have more than 4 million customers.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The two banks believe that the merger will help deliver better services to the customers.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Currently there are 26 commercial banks operating in Nepal.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Banks and financial institutions in Nepal have started merging with each other or acquiring other banks as per the directive of Nepal Rastra Bank. The central bank of Nepal has adopted a policy to encourage merger/acquisition of banks so that the banks can cope with financial crisis better in the future.</span></span></span></span></p>
<p> </p>
<p> </p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p>
',
'published' => true,
'created' => '2022-11-15',
'modified' => '2022-11-15',
'keywords' => '',
'description' => '',
'sortorder' => '16056',
'image' => '20221115064330_1668431648404.jpg',
'article_date' => '2022-11-15 18:42:57',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '16315',
'hit' => '1873'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
file not found!
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '16315',
'article_category_id' => '1',
'title' => 'Global IME Bank Signs Merger Agreement with BoK',
'sub_title' => '',
'summary' => 'November 15: Global IME Bank has signed a merger agreement with Bank of Kathmandu in what is believed to be a deal to create the biggest bank of Nepal in terms of capital and business.',
'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">November 15: Global IME Bank has signed a merger agreement with Bank of Kathmandu in what is believed to be a deal to create the biggest bank of Nepal in terms of capital and business.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The two banks signed an agreement to this effect on Monday. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to a statement issued by Global IME Bank, its chairman Chandra Prasad Dhakal and the chairman of BoK Prakash Shrestha signed the agreement on behalf of their respective banks.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">After the merger, the total capital of the merged entity will rise to Rs 57 billion while the paid-up capital will increase to Rs 35.77 billion. The total deposits of the merged entity will cross Rs 400 billion while the credit flow will stand at Rs 379 billion, making it the biggest bank of Nepal in terms of paid-up capital and volume of business.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Board of directors of both the banks have approved a swap ratio of 1:1 based upon the recommendation of an evaluation report. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">As per the recommendation, the name of the new entity will be Global IME BoK Limited and the new board of directors will be represented by five members of Global IME Bank including its chairman. Likewise, the new board of directors will have two members from BoK.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Global IME Bank’s CEO Ratna Raj Bajracharya will continue his job as the CEO after the merger.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Both the banks have earned net profit of Rs 1.47 billion by mid-October in the current fiscal year. After the merger, the new entity will have a total of 396 branches, 368 ATMs, 275 branchless banking facilities and 61 extension counters and three contact offices abroad. The new bank will have more than 4 million customers.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The two banks believe that the merger will help deliver better services to the customers.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Currently there are 26 commercial banks operating in Nepal.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Banks and financial institutions in Nepal have started merging with each other or acquiring other banks as per the directive of Nepal Rastra Bank. The central bank of Nepal has adopted a policy to encourage merger/acquisition of banks so that the banks can cope with financial crisis better in the future.</span></span></span></span></p>
<p> </p>
<p> </p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p>
',
'published' => true,
'created' => '2022-11-15',
'modified' => '2022-11-15',
'keywords' => '',
'description' => '',
'sortorder' => '16056',
'image' => '20221115064330_1668431648404.jpg',
'article_date' => '2022-11-15 18:42:57',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '16315',
'article_category_id' => '1',
'title' => 'Global IME Bank Signs Merger Agreement with BoK',
'sub_title' => '',
'summary' => 'November 15: Global IME Bank has signed a merger agreement with Bank of Kathmandu in what is believed to be a deal to create the biggest bank of Nepal in terms of capital and business.',
'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">November 15: Global IME Bank has signed a merger agreement with Bank of Kathmandu in what is believed to be a deal to create the biggest bank of Nepal in terms of capital and business.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The two banks signed an agreement to this effect on Monday. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to a statement issued by Global IME Bank, its chairman Chandra Prasad Dhakal and the chairman of BoK Prakash Shrestha signed the agreement on behalf of their respective banks.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">After the merger, the total capital of the merged entity will rise to Rs 57 billion while the paid-up capital will increase to Rs 35.77 billion. The total deposits of the merged entity will cross Rs 400 billion while the credit flow will stand at Rs 379 billion, making it the biggest bank of Nepal in terms of paid-up capital and volume of business.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Board of directors of both the banks have approved a swap ratio of 1:1 based upon the recommendation of an evaluation report. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">As per the recommendation, the name of the new entity will be Global IME BoK Limited and the new board of directors will be represented by five members of Global IME Bank including its chairman. Likewise, the new board of directors will have two members from BoK.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Global IME Bank’s CEO Ratna Raj Bajracharya will continue his job as the CEO after the merger.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Both the banks have earned net profit of Rs 1.47 billion by mid-October in the current fiscal year. After the merger, the new entity will have a total of 396 branches, 368 ATMs, 275 branchless banking facilities and 61 extension counters and three contact offices abroad. The new bank will have more than 4 million customers.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The two banks believe that the merger will help deliver better services to the customers.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Currently there are 26 commercial banks operating in Nepal.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Banks and financial institutions in Nepal have started merging with each other or acquiring other banks as per the directive of Nepal Rastra Bank. The central bank of Nepal has adopted a policy to encourage merger/acquisition of banks so that the banks can cope with financial crisis better in the future.</span></span></span></span></p>
<p> </p>
<p> </p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p>
',
'published' => true,
'created' => '2022-11-15',
'modified' => '2022-11-15',
'keywords' => '',
'description' => '',
'sortorder' => '16056',
'image' => '20221115064330_1668431648404.jpg',
'article_date' => '2022-11-15 18:42:57',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '16315',
'hit' => '1873'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$xml = false
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '16315',
'article_category_id' => '1',
'title' => 'Global IME Bank Signs Merger Agreement with BoK',
'sub_title' => '',
'summary' => 'November 15: Global IME Bank has signed a merger agreement with Bank of Kathmandu in what is believed to be a deal to create the biggest bank of Nepal in terms of capital and business.',
'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">November 15: Global IME Bank has signed a merger agreement with Bank of Kathmandu in what is believed to be a deal to create the biggest bank of Nepal in terms of capital and business.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The two banks signed an agreement to this effect on Monday. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to a statement issued by Global IME Bank, its chairman Chandra Prasad Dhakal and the chairman of BoK Prakash Shrestha signed the agreement on behalf of their respective banks.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">After the merger, the total capital of the merged entity will rise to Rs 57 billion while the paid-up capital will increase to Rs 35.77 billion. The total deposits of the merged entity will cross Rs 400 billion while the credit flow will stand at Rs 379 billion, making it the biggest bank of Nepal in terms of paid-up capital and volume of business.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Board of directors of both the banks have approved a swap ratio of 1:1 based upon the recommendation of an evaluation report. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">As per the recommendation, the name of the new entity will be Global IME BoK Limited and the new board of directors will be represented by five members of Global IME Bank including its chairman. Likewise, the new board of directors will have two members from BoK.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Global IME Bank’s CEO Ratna Raj Bajracharya will continue his job as the CEO after the merger.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Both the banks have earned net profit of Rs 1.47 billion by mid-October in the current fiscal year. After the merger, the new entity will have a total of 396 branches, 368 ATMs, 275 branchless banking facilities and 61 extension counters and three contact offices abroad. The new bank will have more than 4 million customers.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The two banks believe that the merger will help deliver better services to the customers.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Currently there are 26 commercial banks operating in Nepal.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Banks and financial institutions in Nepal have started merging with each other or acquiring other banks as per the directive of Nepal Rastra Bank. The central bank of Nepal has adopted a policy to encourage merger/acquisition of banks so that the banks can cope with financial crisis better in the future.</span></span></span></span></p>
<p> </p>
<p> </p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p>
',
'published' => true,
'created' => '2022-11-15',
'modified' => '2022-11-15',
'keywords' => '',
'description' => '',
'sortorder' => '16056',
'image' => '20221115064330_1668431648404.jpg',
'article_date' => '2022-11-15 18:42:57',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '16315',
'article_category_id' => '1',
'title' => 'Global IME Bank Signs Merger Agreement with BoK',
'sub_title' => '',
'summary' => 'November 15: Global IME Bank has signed a merger agreement with Bank of Kathmandu in what is believed to be a deal to create the biggest bank of Nepal in terms of capital and business.',
'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">November 15: Global IME Bank has signed a merger agreement with Bank of Kathmandu in what is believed to be a deal to create the biggest bank of Nepal in terms of capital and business.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The two banks signed an agreement to this effect on Monday. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to a statement issued by Global IME Bank, its chairman Chandra Prasad Dhakal and the chairman of BoK Prakash Shrestha signed the agreement on behalf of their respective banks.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">After the merger, the total capital of the merged entity will rise to Rs 57 billion while the paid-up capital will increase to Rs 35.77 billion. The total deposits of the merged entity will cross Rs 400 billion while the credit flow will stand at Rs 379 billion, making it the biggest bank of Nepal in terms of paid-up capital and volume of business.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Board of directors of both the banks have approved a swap ratio of 1:1 based upon the recommendation of an evaluation report. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">As per the recommendation, the name of the new entity will be Global IME BoK Limited and the new board of directors will be represented by five members of Global IME Bank including its chairman. Likewise, the new board of directors will have two members from BoK.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Global IME Bank’s CEO Ratna Raj Bajracharya will continue his job as the CEO after the merger.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Both the banks have earned net profit of Rs 1.47 billion by mid-October in the current fiscal year. After the merger, the new entity will have a total of 396 branches, 368 ATMs, 275 branchless banking facilities and 61 extension counters and three contact offices abroad. The new bank will have more than 4 million customers.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The two banks believe that the merger will help deliver better services to the customers.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Currently there are 26 commercial banks operating in Nepal.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Banks and financial institutions in Nepal have started merging with each other or acquiring other banks as per the directive of Nepal Rastra Bank. The central bank of Nepal has adopted a policy to encourage merger/acquisition of banks so that the banks can cope with financial crisis better in the future.</span></span></span></span></p>
<p> </p>
<p> </p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p>
',
'published' => true,
'created' => '2022-11-15',
'modified' => '2022-11-15',
'keywords' => '',
'description' => '',
'sortorder' => '16056',
'image' => '20221115064330_1668431648404.jpg',
'article_date' => '2022-11-15 18:42:57',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '16315',
'hit' => '1873'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$xml = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
