KATHMANDU, Sept 30: Global IME Bank Ltd has announced that it was acquiring Reliable Development Bank.
Global IME Chairman Chandra Prasad Dhakal and Reliable Chairman Radhe Shyam Agrawal signed the a Memorandum of Understanding to this effect on Friday.
Reliable Development Bank has paid-up capital of Rs 788.5 million.
After the acquisition, the paid-up capital of Global IME would cross Rs 8 billion.
Issuing a statement, the bank said that it would be the second commercial bank in the country to meet the Rs 8 billion paid-up capital requirement.
The acquisition process will be completed in three months, according to the statement.
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