Global IME Bank

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Global IME Bank
Kathmandu Bagmati Province (बाग्मती प्रदेश) Nepal
1-597060
01-5326347
globalconnect@gibl.com.np
https://www.globalimebank.com/
Bank, Finance & Co-Operatives
1 Yr
Keywords:

Description

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), merged with Janata Bank Nepal Limited (an “A” class commercial bank) in year 2019 and merged with Bank of Kathmandu on January 9, 2023, to become the biggest bank in Nepal. 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 36.1287 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 over the 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 4,600,000 plus number of accounts in deposit base and above 60,000 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 on 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. "Nepal's Best Bank" in 2022 by Euromoney Magazine (Awards for Excellence), London, UK. The bank is also assigned a rating of "A" by ICRA Nepal. 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, and hydropower to name a few. The collective experience of the promoters has 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 57,042.31 million and Paid-up Capital is NPR 36,128.7 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 renewable energy, SME, Retail and Micro Financing Loans. In continuation of living with its vision “The Bank for All”, the bank has established a separate Agricultural Lending Department to serve the Nepalese population depending 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 Plus" an advanced 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, more than 124 (RMA) and 29 Nostro Account 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 has established three representative Office in Sydney-Australia, New Delhi-India and Aldershot, Hampshire-United Kingdom. The bank has tied up with licensed partners from more than 13 countries for remittance to Nepal which consists of 50 plus receiving partners/banks. The remittance payment of the bank can be collected from more than 50,000 IME and GME’s agents along with the bank’s own branch network. Mobilization of its International Representatives as well as business partners both inside and outside the country in bringing an influx of remittance inside the country. REMITTANCE CONTRIBUTION Global IME Bank has been honored by Nepal Rastra Bank, the central bank of Nepal, for its significant contribution in facilitating the inflow of remittances. The bank's exceptional efforts have played a pivotal role in bringing in 15.65% of the total remittances into Nepal in the FY 2078/79. The felicitation by Nepal Rastra Bank serves as a testament to Global IME Bank's commitment to excellence and its pioneering role in promoting remittance inflows, which has contributed significantly to the country's overall financial stability and economic growth. Global IME Bank's unwavering dedication to enhancing remittance services has positively impacted thousands of households, empowering them to meet their financial needs and aspirations. The bank's wide-ranging network, efficient remittance services, and customer-centric approach have made it a preferred choice for individuals looking to send money back to Nepal. By offering reliable and secure remittance channels, Global IME Bank has become a trusted financial partner for both senders and recipients, ensuring that funds reach their intended destinations swiftly and securely. 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 is very less in number or not at all. The bank has already launched 275 branchless banking services catering to more than 65,000 customers on their daily deposits and withdrawals. BRANCH NETWORK OF GLOBAL IME BANK LTD. The bank is currently operating 355 branches, 65 extension and revenue collection counters and 275 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 378 ATMs throughout the country strategically placed for the convenience of customers.

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