Chandra Prasad Dhakal re-elected unopposed as chairman of Global IME Bank

KATHMANDU: Chandra Prasad Dhakal has secured a uncontested victory in his re-election as the Chairman of Global IME Bank Limited. The 17th Annual General Meeting, which took place on Thursday, saw Dhakal, also the President of the Federation of Nepalese Chambers of Commerce and Industries, being unanimously elected by the 6-member Executive Committee during its inaugural post-AGM meeting.

Having previously served as the bank’s Chairman, Dhakal was re-elected alongside Ram Bahadur Bhandari, Radhesh Pant, Narayan Prasad Poudel, Madan Lal Joshi, and Krishna Prasad Sharma as members of the Executive Committee from the general shareholders. The newly re-elected Chairman is slated to take the oath of office and confidentiality from the Governor of the Nepal Rastra Bank in the imminent days.

Preceding this, the bank’s proposal for an 8% cash dividend and 1% bonus shares to its shareholders from the total profit of the fiscal year 2022-23 gained approval during the Annual General Meeting.

During the meeting, Chairman Dhakal presented the annual report and consolidated financial details. The bank, after the proposed distribution of bonus shares, is expected to see its paid-up capital reach NPR 36.12 billion, inclusive of the bonus shares.

In his address to the Annual General Meeting, Chairman Dhakal underscored Global IME Bank’s adherence to the policies declared by the Nepal government and the Nepal Rastra Bank. He reiterated the commitment to providing suitable dividends to shareholders and outlined plans for balanced growth across various sectors, aligning with the bank’s strategic business plan.

For the fiscal year 2022-23, the bank reported a 34.99% increase in interest income compared to the previous year, reaching NPR 6.81 billion. The net profit of NPR 6.69 billion marked a growth of 74.15% over the previous fiscal year. The bank collected deposits exceeding NPR 3.74 billion and borrowed more than NPR 7.4 billion during the same period.

Global IME Bank, the first commercial bank in the private sector, boasts a network of 355 branches and three international contact offices in 77 districts across the country. With around 4,000 employees, the bank provides direct banking services to approximately 4.5 million customers.