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NRB approves Global IME-Janata merger, gives three months to complete the process

File image: Nepal Rastra Bank

Kathmandu, September 26

The central bank of Nepal has approved the merger plan of two big commercial banks of Nepal, Global IME Bank and Janata Bank Nepal. The Nepal Rastra Bank has given them three months to complete the process and launch the operation as one unit.

After the merger, the bank will be named Global IME Bank. Its chairperson will be current Global IME’s chair Chandra Dhakal but the CEO will be Janata Bank’s Parashu Ram Kunwar Chhetri. Global IME’s deputy CEO Mahesh Dhakal will be the deputy CEO.

It will become the biggest commercial bank of Nepal in terms of the capital. Currently, Global IME’s paid-up capital is Rs 10.315 billion whereas Janata Bank’s is Rs 8.07 billion.

The two banks had agreed to merge around three months ago.

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