Press Release

Everest Bank inaugurates its 25th Branch at Narayangarh

April 28, 2008

In an endeavor to provide banking facilities to large and well spread out sections of the society, the bank has strived to establish branches at all regions of the country. In this attempt, the bank has opened its 25th branch at Narayangarh on 28th April 2008. Dy Governer, Nepal Rastra Bank, Mr. Bir Bikram Raymajhi inaugurated the branch at a function attended by Mr. Mitra Raj Dawadi, President Narayangarh Chamber of Commerce and Industries and Mr. Mahendra Lal Pradhan, a renowned business personality.

The branch would be providing a complete range of services and has launched a scheme for a period of 3 months. During the period of the scheme, customers would be able to open an account at a minimum balance of Rs 500/- and would get a free debit card. Further there is a discount of 50% on the rent of lockers for a period of 1 year. There is a 50% discount on processing charge and 0.5% reduction in loan rates for a period of 3 months for customers availing retail loans.

Everest Bank is one of the fastest growing private sector banks, now serving its valued customers through a network of 25 branches all connected with Anywhere Branch Banking Systems (ABBS). The bank has 11 ATM counters and has expansion plans to many more locations. EBL debit card also has access to 119 ATMs in Nepal and more than 1300 ATM locations in India where by EBL customers going to India need not carry cash but simply withdraw through EBL Debit cards. Further EBL Debit cards need not be renewed every year which is a unique facility provided by the bank.

Everest Bank is the first and the only bank in Nepal to open a representative office in India. The representative 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.

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 150 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.

As a part of its expansion strategies EBL also plans to open branches at Bhaktapur, Tulsipur 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 nine month’s unaudited accounts the Bank’s credit has grown by 33 % reaching a figure of Rs 1728 Crore. The total deposits of the Bank have increased by 31 % touching Rs 2248 Crore 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.