Global IME and Janata Bank to go into merger

Published On: July 5, 2019 04:30 PM NPT By: Nribesh Nepal

KATHMANDU, July 5: In line with the recent instruction of Nepal Rastra Bank Governor Chiranjivi Nepal, Global IME Bank and Janata Bank have signed a memorandum of understanding (MoU) on Friday to go into the merger.

Chairperson of Global IME Chandra Prasad Dhakal and chairperson of Janata Bank Keshav Bahadur Rayamajhi have signed on an initial agreement for the merger amidst a program the capital.

After the merger, the bank will retain Global IME and chairperson Dhakal will continue his tenure. Whereas chief executive officer (CEO) Parshu Ram Kunwar from Janata Bank will remain in the post of the bank and acting CEO of Global IME will be serving as deputy CEO.

Earlier on June 27, the NRB had summoned the chairmen and chief executives of all commercial banks for discussion. In the discussion, NRB Governor Nepal had instructed them to come up with a merger commitment by July 4 and start looking for a partner for amalgamation.

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