Global IME Bank sets AGM for December 14th, marks shift with dividend proposal

KATHMANDU: Global IME Bank, known for a decade of prioritizing mergers and acquisitions, is set to convene its Annual General Meeting on December 14th. Significantly deviating from its past agendas, the bank is introducing a dividend proposal alongside other financial considerations this year, marking a departure from its merger-centric focus.

As the country’s largest bank in terms of business operations and paid-up capital, Global IME Bank has refrained from pursuing mergers in the current fiscal year, contrary to its annual tradition aligned with central bank and government policies.

The bank has announced a dividend offering of one percent bonus shares, coupled with an 8 percent cash dividend. Simultaneously, the general meeting will facilitate the election of the board of directors, with three new directors chosen from the founders and another three from the general public.

To qualify for the bank’s dividend, individuals must become shareholders by December 14th. Shareholders acquired after this date will not be eligible to receive the dividend.