The Global IME Bank and the Bank of Kathmandu (BOK) have decided to merge.
The two banks signed a merger agreement at Hotel Yak and Yeti on Thursday.
Chairman of the Global IME Bank Chandra Prasad Dhakal and Chairman of the Bank of Kathmandu Prakash Shrestha signed the agreement this morning.
It has been agreed that the new bank will be called Global IME BoK Limited and the Board of Directors will have five members including Chairman Dhakal from the Global IME Bank and two members from the Bank of Kathmandu.
Similarly, it has been agreed that the Ratnaraj Bajracharya will be the Chief Executive Officer.
He is the Chief Executive Officer of the Global IME Bank.
Meanwhile, the Nepal Stock Exchange suspended the trading of shares of both the banks following the merger agreement.
