Press Release

EBLs 24th Branch at Lekhnath, Kaski

February 28, 2008

In an endeavor to provide banking facilities to large and well spread out sections of the society, we have strived to establish our branches in all the regions of the country. In this attempt, we have opened our 24 th branch at Lekhnath on 28 th February 2008. Coln M.S. Dhanoa, Defense Attaché, India embassy to Nepal inaugurated the branch at a function attended by Mr. Keshar Jung Baral, Vice Chancellor of Pokhara University and Mr Man Bahadur Nepali from Nepal Rastra Bank, Pokhara.

It is a well-known fact that large numbers of people from the area and adjoining districts have been moving abroad and remitting their earnings to the hometown. Thus with EBL’s more than 140 payout location people can easily remit money to their home town through Everest Remit. Further with Everest Bank customers can directly transfer money to the account of a person in India just like the way we use the ABBS facility in Nepal.

Everest Bank is one of the fastest growing private sector banks, now serving its valued customers through a network of 24 branches all connected with Anywhere Branch Banking Systems (ABBS). The bank has 10 ATM counters and has expansion plans to many more locations. EBL debit card also has access to more than 1000 ATM locations in India where by EBL customers going to India need not carry cash but simply withdraw through EBL Debit cards. Everest Bank is the first and the only bank in Nepal to open a representative office in India. The rep office facilitates the opening of the account of Nepalese from the identified branches of Punjab National Bank, India to any of the branches of Everest Bank Limited in Nepal and also facilitate in remitting the funds instantly with a very nominal charge.

As a part of its expansion strategies EBL also plans to open branches at Narayanghat, Tulsipur, Bhaktapur and Besisahar. The bank believes that its expansion to these strategic locations would adhere to its objective of serving the middle and lower section of the society.

Based on the first six month’s unaudited accounts, the Bank’s operating profit showed an increase of 29% over the last year reaching a figure of about Rs 337 million for the first six months of this fiscal year. The Bank’s credit has grown by 20.35 % reaching a figure of Rs 16969 million. The total deposits of the Bank have increased by 23 % touching Rs 22315 million over the preceding year. This sustained growth of the Bank is attributable to its quality service to its customers, products meeting the customer’s requirement and a strong team.