Introduction
Global IME Bank Ltd. (GIBL) stands as a prominent figure in Nepal’s banking sector, formed through a series of strategic mergers and acquisitions since its inception in 2012. With a mission to provide world-class banking services and uphold its vision of being “The Bank for All,” GIBL has consistently expanded its reach and diversified its offerings. This document outlines the bank’s history, services, achievements, and its commitment to financial inclusion and innovation.
Global IME Bank Ltd. Overview
Mergers and Acquisitions
- Formation: GIBL was formed in 2012 through the merger of Global Bank Ltd., IME Financial Institution, and Lord Buddha Finance Ltd.
- Subsequent Mergers:
- 2013: Merged with Social Development Bank and Gulmi Bikas Bank.
- 2014: Acquired Commerz and Trust Bank Nepal Ltd.
- 2015-2016: Acquired Pacific Development Bank and Reliable Development Bank.
- 2019-2020: Merged with Janata Bank Nepal and Bank of Kathmandu, making GIBL the largest bank in Nepal.
Capital Structure
- Paid-up Capital: NPR 36.1287 billion, increased from NPR 1.0 billion at inception.
Products and Services
- Core Banking Services:
- Deposit products: Savings accounts, fixed deposits, current accounts.
- Lending products: Commercial loans, personal loans, microfinance.
- Value-Added Services:
- Internet and mobile banking, SMS banking, VISA debit and credit cards.
- Special Initiatives:
- Dedicated department for agriculture lending.
- Focus on renewable energy and infrastructure projects.
Customer Base and Performance
- Customer Accounts: Over 5 million accounts.
- Loan Customers: Approximately 81,000.
- Total Assets: NPR 567 billion, making it the largest in the industry.
- Remittance Contribution: 21.1% of total inflow remittances in FY 2079/80.
Digital Transformation and Innovations
- Branchless Banking: 255 services launched, catering to over 65,000 customers.
- Digital User Growth: More than 2 million mobile/internet banking users.
- Strategic Plan: “Lakshya (Target) -2025” focusing on digitalization and process innovation.
- Key Achievements:
- 73% of transactions are digital, reflecting a shift towards a cashless economy.
Key Performance Indicators
Here’s a visual representation of some of the key indicators related to GIBL’s operations.
THIS DATA MAY VARY IN ACCORDANCE TO TIME
Explanation of the Chart
- Total Assets: 567 billion NPR
- Customer Accounts: Over 5 million
- Loan Customers: Approximately 81,000
- ATMs: 384 across Nepal
- Branches: 354
- Branchless Banking Services: 255
CHART
From:Nepse Alpha
Conclusion
Global IME Bank Ltd. has solidified its position as a leader in Nepal’s banking sector through strategic growth, a commitment to innovation, and a focus on customer service. As the bank continues to adapt to the evolving financial landscape, it remains dedicated to fulfilling its vision of being “The Bank for All,” enhancing the financial journey of millions of customers in Nepal and beyond.
References
- Global IME Bank. (n.d.). Retrieved from https://www.globalimebank.com/
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