IME Group

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IME Group

Chandra Prasad Dhakal who began his career as a banker at Rastriya Banijya Bank decided to take up a cargo business in 1992 after sensing opportunity in it. In 2001, he along with his brother Hem Raj Dhakal, ventured into the remittance business by establishing International Money Express (IME) in Nepal and Malaysia. IME is Nepal's first private sector money transfer company. Considering the mass labour migration from Nepal, it was the right choice of business that gained immense repute across the migrant workers’ community. IME also proved to be a defining innovation for the country’s financial system enabling formal channelisation of remittance into the country. 

Later, the group entered the financial sector with IME Finance. In the year 2012, IME Group consolidated its position in the banking sector with the merger of Global Bank, IME Finance and Lord Buddha Finance into Global IME Bank. The bank further merged with Commerz and Trust Bank Nepal and also acquired Pacific Development Bank and Reliable Development Bank.

At present, IME Group is one of the fastest growing business conglomerates in Nepal. It has a strong presence in the insurance sector as well. The group acquired 40 percent stake of NB Insurance in 2014 and rebranded it as IME General Insurance. The group is also a major promoter of IME Life Insurance. A year ago, the group helmed an NPR 3.2 billion Chandragiri Hill project, marking its grand entry into the tourism and hospitality sector.

Financials

  • Annual turnover USD 1,200 million
  • Remittance and banking are the key revenue generators for the group with a market share of 35-40 percent in the remittance business
  • Investment of USD 100 million in diverse sectors including banking and insurance and automobiles

Joint Venture

  • IME Life Insurance is a joint venture between IME Group, Hathway Group and Bhatbhateni

Planned Investments 

  • Planning major expansion with IME Pay that will look into the mobile wallet. 

Employment

  • 3,000 people

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