KATHMANDU, Dec 12: The 18th Annual General Meeting (AGM) of Global IME Bank Limited held in Kathmandu on Thursday unanimously approved the proposal to distribute a 5.5 percent bonus share to the bank’s shareholders from the accumulated profit and capital adjustment fund from the fiscal year 2023/24.
The AGM also approved the annual report and consolidated financial statement presented by the bank's Chairman Chandra Prasad Dhakal on behalf of the board of directors. Additionally, the proposal to amend the memorandum and articles of association to accommodate the increase in capital after the distribution of bonus shares was also passed.
Global IME Bank to distribute 15.76 percent bonus shares
In the fiscal year 2023/24, the bank earned an operating profit of Rs 12.48 billion and a profit after tax of Rs 6.13 billion. Following the proposed bonus share distribution, the bank’s paid-up capital will reach Rs 38.11 billion.
In the general meeting, Chairman Dhakal said that the bank is fully committed to providing reasonable dividends to the shareholders in full compliance with the policies announced by the Government of Nepal and Nepal Rastra Bank (NRB). Similarly, he also mentioned that the bank plans to expand new business areas in a balanced manner under its commercial strategic plan.
Global IME Bank has been honored as Nepal's Best Bank under two categories including the ‘Best Bank Award 2024’ of ‘Global Finance’ and the ‘Euromoney Award for Excellence 2024.’ It is the first private sector commercial bank in Nepal to have a branch network across all 77 districts of the country.
The bank has been catering to customers through a network of over 1,100 service centers including 354 branch offices, 384 ATMs, 255 branchless banking services, 68 extension and revenue collection counters and three foreign representative offices. It also has been providing financial services to Nepali citizens from all over the world through remittance services.
