Nepal remittance champ Chandra Prasad Dhakal tests Australian bank market

Global IME Bank Limited takes the stage with a representative office in Australia from this week.

Established in 2007 as commercial bank in Nepal, it has paid up capital of NPR4.14 billion, according to its website. This is four times its opening levels.

The bank may have connections. "The bank has been handling government transactions and is officially among the only five banks in Nepal to do so," its website highlights.

Public shareholders own 30 per cent, instos 25 per cent and founders the rest.

Chandra Prasad Dhakal is the chair. His Wikipedia entry describes him as "a Nepalese business person," born in Amalachaur, Baglung district in western Nepal."

A graduate in commerce from Tribhuvan University, he counts the presidency of the Nepal Remitters Association among wide networking interests.

He is first Honorary Consul of Nepal to Indonesia, executive committee member of the Nepal German Chamber of Commerce and Industry and president of the Nepal Malaysia Chamber of Commerce and Industry, on this account.

He owns the IME Group of companies.

Subsidiaries include the Himalayan Power Partner Private, IME Automotives, Global IME Bank, Elite Capital, Worldwide Investment Private, Mountain Energy Nepal Private Limited, IME Oxygen Private Limited, International Money Express, CM Trading, Across Travels & Tours Private Limited.

Note: article corrected to make clear Global IME Bank Limited is licenced to operate a representative office in Australia only by APRA. IT does not hold a deposit taking licence.