Global IME Bank inaugurated its representative office in Sydney, Australia, becoming the first Nepali commercial bank to open its office in the country.

Inaugurating the office, Finance Minister Ram Saran Mahat congratulated the bank and wished its success.

“The establishment of the office in Australia is our new achievement and it will support Nepal’s economic development,” said Global IME Chairman Chandra Prasad Dhakal.

The bank’s Australia office is expected to boost trade and investment between Nepali and Australian businessmen and facilitate promotional activities.

“It will also simplify and facilitate banking as well as remittance activities with Nepal for Nepali students and other citizens residing in Australia,” said the bank in a statement.

According to a press release issued by Sunita Sharma Dhakal, Marketing and Business Promotion, Global IME Bank Limited, the bank has also obtained a pre-approvals from Nepal Rastra Bank to open representative offices in other countries. “The bank is currently working towards getting approval from authorities concerned of those countries,” it said.