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Global IME Bank Profile [Back]

  

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 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).
 
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 6.16 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 eight 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 reflect- ed in the large and ever expanding customer base with more than 550,000 number of accounts in deposit base and above 16,000 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)

GIBL has been appointed as handling bank unit of CREF (Central Renewable Energy Fund) under AEPC (Alternative Energy Promotion Center). GIBL has been the first ever bank selected for such prupose by AEPC.
 

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.
 

Shareholders Structure

 Authorized Capital of Global IME Bank is NPR 10,000 million and Paid up Capital is NPR 6,164.27 million. The promoters hold 51.00% while 49.00% is floated for the public. Current shareholder structure of the bank remains as below:
 

 

Percentage of Ownership

Capital Invested

Institutional Shareholders

17.49%

NPR 1,078.10 million

Individual Promoters

33.51%

NPR 2,065.68 million

Public Shareholders

49.00%

NPR 3,020.49 million

 Total

100%

NPR 6,164.27 million

 

Mission

To win respectable market share through customer focused quality products and services, innovative business solutions and technology driven banking thereby enhancing the growth and profitability of the bank so as to ensure the optimum benefit to all stake holders at all times.

Vision

The bank shares a common vision of “The Bank for All” amongst its Promoters, Directors, Management Team and Staff in commitment to providing the highest standard of services for customers from all regions and societies.

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 prefernce 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 introucuded "GlobalSmart" an advance banking application with customized features on updated format for fincancial transaction thourgh SMS and Internet Connectivity.

Correspondent Network

The bank has been maintaining harmonious correspondent relationships with above 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 40 branchless banking services catering more than 10,000 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 91 branches, 6 extension counters and 10 revenue collection counters 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 103 ATMs throughout the country strategically placed for the convenience of customers.

  
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