GLOBAL IME BANK LIMITED Views: 1872

BANK OVERVIEW Global IME Bank Ltd. (GIBL) emerged after successful merger of Global Bank Ltd (an “A” class commercial bank), IME Financial Institution (a “C” class finance company) and Lord Buddha Finance Ltd. (a “C” class finance company) in year 2012. Two more “B” class development banks (Social Development Bank and Gulmi Bikas Bank) merged with Global IME Bank Ltd in year 2013. Later, in the year 2014, Global IME Bank made another merger with Commerz and Trust Bank Nepal Ltd. (an “A” class commercial bank). During 2015-16, Global IME Bank Limited acquired Pacific Development Bank Limited (a "B" Class Development Bank) and Reliable Development Bank Limited (a "B" Class Development Bank). During 2019-20, Global IME Bank Limited acquired Hathway Finance Limited (a “C” class finance company) and merged with Janata Bank Nepal Limited (an “A” class commercial bank). Global Bank Limited (GBL) was established in 2007 as an ‘A’ class commercial bank in Nepal which provided entire commercial banking services. The bank was established with the largest capital base at the time with paid up capital of NPR 1.0 billion. The paid up capital of the bank has since been increased to NPR 18.97 billion. The bank's shares are publicly traded as an 'A' category company in the Nepal Stock Exchange. It is in line with the aim of the bank to be “The Bank for All” by giving necessary impetus to the economy through world class banking service. For the day to day operations, the bank has been using the world renowned FINACLE software that provides real time access to customer database across all branches and corporate locations of the bank. This state of the art customer database has also been linked to a Management Information System that provides easy reach to all possible database information for balanced and informed decision making. A disaster recovery system (DRS) of the Bank has also been established in the Western Region of Nepal (200 kms west of Kathmandu). The bank has been able to achieve excellent diversification of its assets. A well balanced distribution of exposure in areas of national interest has been possible through long term forecasting and timely strategic planning. The bank has diversified interests in hydro power, manufacturing, textiles, services industry, aviation, exports, trading and microfinance projects, just to mention a few. The exemplary performance of the bank in these last eleven years has elevated it to a premier status in the industry. The bank has been handling government transactions and is officially among one of the few commercial banks trusted by the Government in handing Government revenue transactions of various offices. The bank has been able to earn the trust and confidence of the public, which is reflected in the large and ever expanding customer base with more than 2,000,000 number of accounts in deposit base and above 50,000 in credit. Through all this the bank has been able to truly achieve its vision of being “The Bank for All”. Even with all this success, the bank remains internally focused towards manpower development, product innovation and process innovation etc., to have a strong and solid foundation, which are ongoing and continuous improvement initiatives undertaken by the management and staff alike. GIBL has been conferred with “The Bank of the Year Award 2014” for Nepal by the Bankers Magazine (Publication of the Financial Times, UK), “Best Internet Bank 2016- Nepal” by International Finance Magazine, London and “Best Employer Award 2018” by World HRD Congress, India. GIBL was appointed as the first handling bank unit of CREF (Central Renewable Energy Fund) under AEPC (Alternative Energy Promotion Center) PROMOTERS GIBL has been promoted by a group of prominent indigenous entrepreneurs who have written a history of success in their field of ever growing business. The promoters of the bank include renowned, well established and respected businessmen/industrialists in Nepal from a variety of different sectors that include finance, remittance, trading, export, automotive services, manufacturing, media services and hydropower to name a few. The collective experience of the promoters have been realized to customize the bank's offerings and services to compete with best in the banking industry and instill a culture based on our core values of integrity, business ethics, teamwork, respect, humility, professionalism, loyalty and good governance. CAPITAL Authorized Capital of Global IME Bank is NPR 25,000 million and Paid up Capital is NPR 18,975.87 million. BANK'S PRODUCT AND SERVICES The bank offers a complete range of banking products in deposits, lending, trade finance and remittances. The bank’s deposit product portfolio encompasses customer tailored saving deposits, fixed deposits, call and current deposits. The lending product portfolio includes commercial loan products such as demand loans, cash credits, overdrafts, trust receipts and term loans, whereas a complete portfolio of personal and retail credit products are also provided by the bank. Non-fund based products such as bank guarantees and letters of credit are also available to the bank’s customers. GIBL's focus has been stretched out to financial supports to Corporate and Infrastructure Sectors with preference on renewal energy, SME, Retail and Micro Financing Loans. In continuation of living with its vision “The Bank for All”, the bank has launched Agricultural Loan in co-ordination with food processing industries as about 70% of the Nepalese population depend on agriculture for their livelihood. VALUE ADDED SERVICES In addition to the above, the bank also offers a variety of value added services to its customers. The bank has also been providing Internet/Mobile Banking Services (through its website www.globalimebank.com), SMS Banking Services and SMS Notification Services among other such value added proposition to its customers. The bank has also been issuing VISA debit and VISA credit cards to its customers since 2009. GIBL is the only bank to provide SMS alert to its customers on credit transactions and credit card transactions besides other transactions. GIBL has introduced "Global Smart" an advance banking application with customized features on updated format for financial transaction through SMS and Internet Connectivity. CORRESPONDENT NETWORK The bank has been maintaining harmonious correspondent relationships with more than 60 different international banks from various countries to facilitate trade, remittance and other cross border services. Through these correspondents the bank is able to provide services in any major currencies in the world. The bank also maintains its extension offices in India and Middle East to assist in the remittance of funds from overseas Nepalese workers. These services are soon to be expanded to South Korea. BRANCHLESS BANKING As part of financial inclusion, Global IME Bank has addressed new strategy of launching branchless banking service in the remotest parts of the country where presence of financial institutions are very less in number or not at all. Within the short duration of 3 years bank has already launched 245 branchless banking services catering more than 22,000 customers on their daily deposits and withdrawals. Our branchless banking locations also offer micro lending facility to small farmers and businessmen. BRANCH NETWORK The bank is now operating 295 branches, 34 extension and revenue collection counters and 245 Branchless Banking facilities spread throughout Nepal. All of the bank's branches have been established as full service outlets that offer a large range of banking services to its customers. The bank also operates 262 ATMs throughout the country strategically placed for the convenience of customers.