Global IME Bank Approves 10% Dividend at 20th AGM as Net Profit Rises 15.9%
Global IME Bank Limited has endorsed a 10% total dividend for fiscal year 2082/83 during its 20th Annual General Meeting in Kathmandu. The approved payout includes 4% bonus shares and a 6% cash dividend, elevating the bank's paid-up capital to Rs 39.69 billion. Net profit for the year grew 15.90% to reach Rs 6.04 billion.
Global IME Bank Limited has officially approved a 10% dividend for its shareholders from the profits of fiscal year 2082/83. The decision was endorsed at the bank's 20th Annual General Meeting (AGM) held on Friday at the Nepal Police Club, Bhrikutimandap, Kathmandu.
The approved dividend structure comprises:
- 4% bonus shares
- 6% cash dividend (inclusive of tax)
Following the issuance of the bonus shares, Global IME Bank’s total paid-up capital will reach Rs 39.69 billion.
Strong Financial Performance
During the meeting, shareholders approved the bank’s annual report and integrated financial statements. For the fiscal year, Global IME Bank posted a net profit of Rs 6.04 billion, reflecting a 15.90% increase year-over-year. Operating profit for the same period reached Rs 9.60 billion.
The AGM also authorized the Board of Directors to make necessary amendments to the bank’s memorandum and articles of association and approved the appointment of statutory auditors for the upcoming fiscal year.
Nationwide Network and CSR Initiatives
Global IME Bank holds the distinction of being the first private-sector commercial bank in Nepal to extend its branch network across all 77 districts. Its operational infrastructure currently includes:
- 341 branches
- 366 ATMs
- 147 branchless banking centres
- 69 extension and revenue collection counters
- 3 overseas representative offices
In addition to its business growth, the bank recently contributed Rs 57.59 million to the Prime Minister’s Disaster Relief Fund to support rescue and relief operations following flood disasters in the Bhotekoshi and Trishuli rivers.