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Global IME Bank, Janata Bank Nepal complete merger

Global IME Bank Ltd. and Janata Bank Nepal Ltd. completed a merger to become Nepal's largest commercial bank in terms of paid-up capital, The Himalayan Times reported Dec. 6.

The merged entity commenced integrated transaction under the Global IME Bank name, with paid-up capital of 24 billion rupees. Janata Bank Nepal CEO Parshuram Kunwar is CEO of the merged entity, while Chandra Dhakal serves as its chairman, the report added.

Global IME Bank now has more than 300 branches, 295 ATMs and 33 extension counters across Nepal.

As of Dec. 6, US$1 was equivalent to 114.10 Nepalese rupees.