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Based on the audited results for the period ending Asadh 2067 Everest Bank’s net profit and operating profit increased as under:

The Earning Per Share (EPS) of the Bank for the year is Rs.100.16. The Board meeting of the Bank held on 21st Shrawan 2067 (6th August, 2010) has decided to recommend to the ensuing shareholder’s Annual General Meeting of 30% bonus share and 30% cash dividend to its shareholders subject to approval of the Nepal Rastra Bank. The Bank’s credit registered a growth of 15% reaching a figure to Rs.2815.64 crore. The total deposit of the Bank reached Rs.3693.23 crore. The NPA is further reduced from 0.48% to 0.16%. During the last financial year, the Bank opened five branches viz. Maitidevi, Kalimati and Thamel in the Valley and Tulsipur and Tatopani outside the Valley. Similarly, the Bank has further plans to expand its branch network during the current financial year 2067/68.

05th August,2010

Chairman and Managing Director (CMD), Punjab National Bank, India, Shri K.R. Kamat visited Kathmandu on 05th August, 2010. He along with Chairman of Everest Bank Limited, Mr B.K. Shrestha, called on Governor, Nepal Rastra Bank, Mr Yubaraj Khatiwada. Discussion was held on banking scenario in Nepal. CMD PNB offered to extend expertise on training farmers in Nepal for which Governor NRB showed positive interest. CMD PNB also offered to share experience particularly in the field of mutual fund, debt syndication. The CMD assured to bring better risk management and IT (Information Technology) skills  as also best corporate governance practices in Everest Bank Limited based on experience of PNB in these areas.

CMD PNB also called on the Indian Ambassador H.E. Rakesh Sood. During the Meeting CMD, PNB highlighted the strength of EBL as a commercial bank and the positive help being extended by PNB to EBL.

04th July 2010

Everest Bank inaugurates its 37th branch in Kalimati 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 37th branch at Kalimati, Kathmandu District. Now the bank is providing banking services through 75 points viz.  37 branches, 5 revenue collection counters, 33 authorized representatives in VDCs through “Everest Ghar-Dailo Banking Sewa, a branchless banking system. Mr Bir Bikram Raymajhi, Dy. Governor, NRB, inaugurated the branch at the event. The bank also inaugurated its 33rd ATM at the premises. EBL debit card also has access to more than 600 ATMs in Nepal and more than 3500 ATM locations in India where by EBL customers going to India need not to carry cash but simply withdraw through EBL debit cards. Everest Bank is the first and the only bank in Nepal to start branchless banking system-“Everest Ghar-Dailo Banking Sewa”. 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. At present, the service is being provided by our B/O Baglung, B/O Bhaktapur B/O Nepalgunj and B/O Birtamod through 33 Business Correspondent. Mobile Banking (Bank on Wheel) was introduced since September 2007 for the first time in Nepal As a part of its expansion strategies EBL also plans to open additional three branches in the near future.  

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, it has been decided by the bank to donate Hydrocholator machine to M/s Siddhi Memorial Foundation, Bhaktapur on the occasion of 2nd  Anniversary of EBL Bhaktapur Branch.The machine is used for physiotheraphy. M/s Siddhi Memorial Foundation is a non-government organization. The Foundation has been running Siddhi Memorial Hospital and Siddhi Shaligram Briddhashram with the donation received from different organization and local people. Poor people are getting health service from Siddhi Memorial Hospital.   Our effort will help the organization to increase their service that will provide to poor people.

During the function Mr R.K. Ummat , CEO –Everest Bank Limited handed over the hospital equipment to Mr Shyam Sundar Dhaubadel, Founder of M/s Siddhi Memorial Foundation.
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 small step of the bank may help the society for their betterment.

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 has launched a new saving product –Saugat Bachat Khata to attract new customer who wants high yield on his/her savings. The product is hybrid of normal saving and fixed deposit. Under the scheme, a customer can enjoyed up to 10% interest on his/her deposit. Minimum deposit for the account is NPR 5000/-. After certain deposit, amount in multiple of 25000/- will be automatically transfer to fixed deposit on which interest rate is up to 10%. A customer can withdraw his/her balance at any time without any hassle through the cheque. The bank is providing the services through its 36 branch network which is spread through out the nation.

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.