The Global IME Bank has decided to provide 5.5 per cent bonus share dividend for its shareholders.

The 18th general meeting of the bank held on Thursday unanimously approved the proposal to provide 5.5 per cent bonus share dividend proposed by the bank to its shareholders from the retained profit and capital adjustment fund of the fiscal year 2023/24.

The general meeting approved the annual report and integrated financial statements presented by the bank's Chairman Chandra Prasad Dhakal on behalf of the board of directors.

The meeting has also passed a proposal to amend the memorandum of association and regulations to the extent of the capital increase to be maintained after the bonus share distribution, according to the press statement of the bank.

The bank earned a net profit of Rs. 6.13 billion in the fiscal year 2023/24.

After the proposed bonus share distribution, the bank's paid-up capital will reach Rs. 38.11 billion.

Chairman Dhakal said that the bank is committed to providing dividends to shareholders by fully complying with the policies announced by the government of Nepal and Nepal Rastra Bank.

He said that the bank plans to continue expanding business areas in a balanced manner under its business strategic plan.

The Global IME Bank has been honoured as the best bank in Nepal in two categories under the “Best Bank Award 2024” of Global Finance and “Euro Money Award for Excellence 2024”.

Global IME Bank is a private sector commercial bank with a branch network in all 77 districts of the country.

The bank has been providing service to customers through more than 1,100 service centres, including 354 branch offices, 384 ATMs, 255 branchless banking services, 68 extension and revenue collection counters and three foreign representative offices.

The bank has been providing financial services to Nepali citizens from all over the world through remittance services.

The bank has been contributing to the economic prosperity of Nepal by operating remittance services from countries like the US, UK, Canada, Australia, Malaysia, South Korea, Japan, Saudi Arabia, Qatar, UAE, Bahrain, Kuwait, Jordan and India.