An agreement has been signed on May 28 between Global IME Bank Limited and Gulmi Bikas Bank Limited to merge the latter into the former. This news comes soon after similar merger of Social Development Bank into Global IME. 

 

Gulmi Bikas Bank is a ‘B’ class financial institution based in Putalibazar, Tamghas, Gulmi. The shareholders of the Gulmi Bikas Bank would probably get Global IME Bank Limited shares at the ratio of one Global IME share for every two shares of Gulmi Bikas Bank. 

 

Social Development Bank Limited shareholders are proposed to get shares at the ratio of four Global IME Bank shares for every 10 shares of Social Development Bank after the merger. Global IME Bank Limited was formed after IME Financial Institution was merged into it and later Lord Buddha Finance Limited was also merged into it. Nepal Stock Exchange has suspended trading on Gulmi Bikas Bank shares till the merger process gets over.