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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 regions of the country. With the growth in the size of business the bank has established its first Regional Office at Pokhara.
Mr. Ashutosh Upadhaya working at the bank for the last 15 years has been designated as Regional Manager of Everest Bank to look after Pokhara branch, Kushma Branch, Lekhnath Branch, Baglung Branch and Beshisahar Branch. The regional office at Pokhara will monitor all the activities of above branches. The above concept of setting of Regional Office at Pokhara will facilitate quick decision making and customers of these branches will be benefited by Pokhara itself.
The Board of Directors of Everest Bank Ltd. in its meeting held on 2nd April, 2010 (20 Chaitra, 2066) noted with satisfaction the un-audited results during the first eight months of the current financial year as follows:
(Rs. in crore)
The Board noted that the Bank has now 36 full operating branches and 5 extension counters. The 36th branch has been inaugurated and started operation from 3rd April, 2010 (21 Chaitra, 2066).
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 regions of the country. In this attempt, we have opened our 36th branch at Tatopani Liping at Sindhupalchowk District. The bank currently is providing banking services through 74 points viz. 36 branches, 5 revenue collection counters, 33 authorized representatives in VDCs through “Everest Ghar-Dailo Banking Sewa, a branchless banking system. Mr. Hari Krishna Upadhaya CDO of Sindhupalchowk District and Bir Bikram Raymajhi, Deputy Governor, Nepal Rastra Bank, jointly inaugurated the branch at the event.
The residence at Tatopani VDC now can get the morden banking facility at their home place. The bank customer can get the ABBS facility from the bank and the customers who are visiting Tatopani can also get the banking facility. Beside the banking transaction (Withdrawal and Deposit) the EBL customer can recharge their prepaid NTC (Namaste and Sky phones) through their mobiles itself. This is a service offered for the first time in Nepal.
The main objective to open the branch at Taopani is to facilitate the business men who are dealing with Nepal- China trade. To encourage the businessmen and make the proper transaction through banking channel.
In an endeavor to provide banking facilities to large and well spread out sections of the remote village, throughout Nepal, Everest Bank Limited (EBL) has further launched Everest Ghar-Dailo Banking Sewa, in different 13 locations of Jhapa and Ilam District through its branch at Birtamod on 28th March 2010.
The bank has been offering various innovative products and services since its inception. This new product is a revolution in the banking history of Nepal and is a new breakthrough in terms of banking technology. The uniqueness in the technology lies in the fact that even illiterate people can operate their account through thumb impression. The machine reads accounts through biometric data stored during account opening. Thus, the operation of the account is safe and secure.
The Branchless banking service of EBL helps the people in remote villagers to make the banking transaction i.e. opening bank account, withdrawal, deposit, remittance from abroad and fund transfer. The transaction is made through special machine available to the Business Correspondent appointed at different locations.
This service is unique delivery channel in banking services to facilitate rural people in banking with the help of sophisticated technology. This service is branchless banking service through point of transaction (POT) machine by using smart cards.
President of Jhapa Chamber of Commerce & Industry Mr. Rajendra Ghimire announces the launching of Everest Ghar-Dailo in this area.
Currently the facility would be offered through thirteen VDC viz.Budhabare, Khuduna Bari, Surunga, Dhauladubba, Saranamati, Goldhap, Gauradaha, Prithivi Nagar, Satashidham, Rajghad, Bahundangi, Lakhanpur at Jhapa Dristrict and Fikal at Ilam Disrtict
EBL has presently 35 branches and 32 ATM locations. It is shortly planning to add two more branches in Tatopani at Sindhupalchowk and Kalimati in Kathmandu valley.
The product has already been launched at 19 Villages i.e 8 villages in Baglung, 6 Village in Bhaktapur and 5 in Banke Disrtict.
Everest Bank Limited has entered into an agreement with Habib American Bank, New York, US, according to which Nepalese working in United States will be able to send inward remittance for the credit of beneficiary accounts in Everest Bank up to US$ 2000 free of cost. Habib American Bank and Everest Bank both have agreed to launch remittance facilities for Nepalese in US without any commission.
Mr R.K Ummat CEO of Everest Bank Limited and Mr Mirza Ejaz Hussain Sr. Executive Vice President and Correspondent Banking Manager of Habib American Bank signed on the MOU for the remittance facility. With the help of this facility the Nepalese citizens working in US can directly remit their earnings through proper banking channel to Nepal at any 35 branches of EBL and save their time.
Habib American Bank has its branches in New York, Queens, Los Angeles, California and New Jersey.
Relatives of Nepalese residing in US can intimate their near ones for taking benefit of this facility.
Everest Bank started its operation in 1994 with a view and objectives of extending professionalized and efficient banking services to various segments of the society. The bank has been offering various innovative products and services since its inception.
To facilitate bike finance, EBL has tied up with Morang Auto Works for Yamaha bike financing. Mr. P. K. Pradhan, DGM from EBL and Mr. Vishnu Kumar Agrawal, CEO of Morang Auto Works signed on the Agreement. Now EBL facilitate loan for Yamaha bike purchase. Initially, the bank has launched this scheme for KTM valley only from its Kirtipur branch. The bank will finance upto 70% of quotation price or maximum Rs 2.00 Lac at 10.00% interest rate. The loan will be repaid within 3 years time period. Earlier, EBL has made such tie up with Hansaraj Hulas Chand and Company for Bajaj bike and Syakar Company Ltd. for Honda/Hero-Honda bike. EBL is the first private commercial bank which has introduced bike finance facility in the country.
Everest Bank Ltd, a joint venture with Punjab National Bank, India, held its 15th Annual General Meeting at City Hall, Exhibition Marg, Kathmandu. The Annual General Meeting of the Shareholders approved among others, the declaration of 30% bonus shares and 30% cash dividend. The AGM also approved the financial statements ending 31st Asadh 2066. After providing provisions for income tax and statutory provisions there was a disposable net profit of Rs.63.87 crore compared to Rs. 45.12 crore last year- an increase of 41.60 %. The Bank was able to increase its deposits by more than 39% and advances by almost 30% during the year compared to the previous year. Similarly, the bank recorded a growth of 30.30% in operating profit to Rs. 107.35 crore from Rs. 82.39 crore in the previous year. Against the Paid-Up Capital by shareholders of Rs 63.88 crore, the shareholders’ fund now amount to Rs 262 crore- with Core Capital base of Rs 149.69 crore. Earning Per Share has surged to Rs99.99 from Rs 91.82. The overall better performance has enhanced the image of the bank. Asset quality improved by reduction of NPA to 0.48% from 0.68% in the previous year. This is one of the lowest NPA among the commercial banks in Nepal. The net NPA of the bank is minus 1.90% after provisioning. The Bank introduced in the country the branchless banking to cover villages with telephone lines. To begin with this has been introduced at Baglung in the western hills covering eight villages; at Bhaktapur in the valley covering five villages and at Nepalgunj with the terai covering six villages. The Bank intends to cover more and more villages with this revolutionary new technology. The Bank has received in principle approval from Nepal Rastra Bank to open an international branch in New Delhi. The Bank has now fully operative 35 branches, one of the largest network among the private sector bank in the country.
The Board of Directors of Everest Bank Ltd. in its meeting held on 7th November, 2009 (21st Kartik,2066) noted with satisfaction the un-audited results during the first quarter of the current financial year as follows:
Amount in Laks
The Bank has now 35 full operating branches and five extension counters. The Board approved opening of the 36th branch at Tatopani on Nepal China border.
Everest Bank believes that the society contributes a lot to the development of any organization and hence, organization has also some responsibility towards the society. As part of corporate social Responsibility towards empowering education among the underprivileged students, it has been decided by the bank to donate computers to various intuitions. In this effort the bank has donated 24 computers to 17 schools, college and institutions. This will help to educate the children about computer literacy where they do not have the facility or not having in sufficient numbers
As per banks policy, it has been our endeavor to contribute to the social welfare activities such as women skill development, child education, setting up of health camp, blood donation camp, computer donation etc.
This is small step by the bank towards contributing the welfare of the society. The bank looks forwards to help in the society in whatever way it can in time to time.
Everest Bank Limited (EBL)started its operation in 1994 with a view and objectives of extending professionalized and efficient banking services to various segments of the society .The bank has been offering various innovative products and services since its inception.
Everest Bank started its operation in 1994 with a view and objectives of extending professionalized and efficient banking services to various segments of the society .The bank has been offering various innovative products and services since its inception. Everest Bank Limited (EBL) has started SMS bill payment service to NTC mobile user customer. With the help of this service the NTC post paid mobile holder and pre paid mobile holder can make monthly bill payment or recharge their mobile through SMS. The SMS bill payment facility service is available from all 35 EBL branches. The Mobile holder can make bill payment at any time from any place. Just by sending the SMS to 5677 the customer can pay their post paid bill or recharge their prepaid mobile. All the accountholders of the bank can avail the facility.
• Hassle free payment • Prepaid Mobile user need not to go shops and outlets to buy recharge card. • The prepaid customer will receive instantly recharge pin code after sending the SMS. • Postpaid mobile customers don’t have to stand in queue to make the Monthly bill payment. • Post paid Mobile holder can also request recharge PIN code of Pre-paid mobile. • The payment bill will be effective within couple of Hour. • This payment procedure saves the time. • Customer can make payment at any time.