Global Bank, IME sign merger MoU
Global Bank and IME Financial Institution on Friday signed a memorandum of understanding (MoU) for merger.
Both the institutions are promoted by the same group and this initiative has come at a time when the central bank is considering forcing BFIs having same promoters (single business group/family) to go for unification.
IME Investment Pvt Ltd and World Wide Investment have around 20 percent share in Global Bank. Likewise, International Money Express and World Wide Investment have 30 percent share in IME Financial Institution.
The merged entity will be named Global IME Bank, according to a senior official at IME Financial Institution.
Last month, the Nepal Rastra Bank (NRB) had held talks with two commercial banks that have almost same set of promoters, for the possible merger.
Posted on: 2012-02-05 09:36
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