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Modern banking going to every village with telephone connection – for financial inclusion of large number of villagers who have no approach to modern banking.

For the first time in the history of the country Everest Bank Ltd. (EBL) is launching a scheme of branchless banking namely “Everest Ghar – Dailo Banking Sewa” with the help of the latest technology that has been developed and has been successfully tried in many countries including India by Punjab National Bank and other important banks.
It is neither practical nor cost effective for the Banks to open branches in remote villages. However, with the extension of telephone lines on the one hand and development of modern technology and equipments on the other, it is now possible to extend the modern banking services practically to every village where there is a telephone line.
EBL is launching this service in the area connected with its branches at Baglung on 17th June 2009 followed by Bhaktapur in the valley and Nepalgunj in the Terai. With the experience gained, EBL would be extending the services to all its branches.

EBL has 31 branches at the present time and four new branches (namely Lagankhel, Maitidevi and Thamel in Kathmandu Valley and Tulsipur in Dang Dist.) are in the pipeline, which would be operative in the next two months.
EBL would be appointing an Authorized Representative called “Business Correspondent” in the selected villages. After training, such Authorized Representative with the operation of a specialized machine (POT – Point of Transaction Machine) which will be located at his place and which is connected by telephone line with the branch of EBL, will carry out banking transactions like accepting deposits, allowing withdrawals etc.
Each villager with an Account is issued a Smart Card through the help of which the account can be activated in the machine. Since many villagers may not be literate, the machine recognizes any of the ten finger prints in addition to the photograph of the account holder which is in the Card. The Villager – Account Holder can deposit money as well as withdraw money through this Machine.

Thus the money that may be lying with the villagers in their house will now be fully secured since the money will be with the Bank. Further the money will earn interest.
The more interesting feature of this Machine is that if a family member of the account holder wants to remit money to the account holder, this can be done directly by giving reference to the account number/card number.
The villagers will be welcomed to apply for loan for improvement of agriculture, house building, education etc. through the nearest branch of EBL. Once the loan is approved, the disbursement of the loan can take place with the help of the same machine and he can also start repayment the installment and interest of the loan through the machine.

Another important factor is that the normal banking hours does not suit the villagers. Most of them leave home for work early in the morning and come back only in the evening. Since the Authorized Representative of EBL lives in the village, he would be available when the villagers come back home after their work.
The development of a country has direct relationship with the number of citizens having access to the banking. With this almost revolutionary step being taken by EBL the development of villages in the country is expected to take a leap forward.

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 31st branch at Surkhet on 8th June, 2009. . Mr. K.K. Sharma, Asst. General Manager, GMR was the chief guest of the event. With the opening of the branch the bank has 31 branches and 5 extension counter all across the Nepal.

The bank has 28 ATM counters. EBL debit card also has access to 190 ATMs in Nepal and more than 2000 ATM locations in India where by EBL customers going to India need not carry cash but simply withdraw through EBL Debit cards.

The bank has recently launched recharge payment through mobiles, whereby EBL customer can now recharge their prepaid NTC (Namaste and Sky phones) through their mobiles itself. This is a service offered for the first time in Nepal.

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.

It is a well-known fact that large numbers of people from Nepal have been moving abroad and remitting their earnings to the hometown. Thus with EBL’s more than 250 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 Lagankhel, Maitidevi, Thamel, and Tulsipur in the near future. 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.

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 30th branch at Kushma on 11th May 2009. With the opening of above branch EBL has one of the largest branch networks among private sector commercial banks all connected with Anywhere Branch Banking Systems (ABBS).

The bank has 25 ATM counters. EBL debit card also has access to 190 ATMs in Nepal and more than 2000 ATM locations in India where by EBL customers going to India need not carry cash but simply withdraw through EBL Debit cards.

The bank has recently launched recharge payment through mobiles, whereby EBL customer can now recharge their prepaid NTC (Namaste and Sky phones) through their mobiles itself. This the a service offered for the first time in Nepal.

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.

It is a well-known fact that large numbers of people from Nepal have been moving abroad and remitting their earnings to the hometown. Thus with EBL’s more than 250 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 Lagankhel,Maitidevi,Thamel, Surkhet and Tulsipur in the near future. 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.

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 29th branch at Kirtipur on 19th December 2008. Mr Anil Sinha, DCM, Indian Embassy was the chief guest of the event. With the opening of the branch EBL has one of the largest branch networks among private sector commercial banks all connected with Anywhere Branch Banking Systems (ABBS).

The bank has 20 ATM counters, including one in Kirtipur and has expansion plans to many more locations. EBL debit card also has access to 125 ATMs in Nepal and more than 1500 ATM locations in India where by EBL customers going to India need not carry cash but simply withdraw through EBL Debit cards.
The bank has recently launched recharge payment through mobiles, whereby EBL customer can now recharge their prepaid NTC (Namaste and Sky phones) through their mobiles itself. This the a service offered for the first time in Nepal.

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.

It is a well-known fact that large numbers of people from Nepal have been moving abroad and remitting their earnings to the hometown. Thus with EBL’s more than 175 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 Surkhet and Tulsipur in the near future. 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.  

With the opening of this Branch Everest Bank Ltd. (EBL) has the largest branch network among private sector commercial Banks. EBL was one of the first Banks to have all the branches connected with ABBS (Anywhere Branch Banking System). EBL’s ATM debit card has access to not only 150 ATMS in Nepal but also to more than 1500 ATMs of Punjab National Bank in India.EBL has a substantial share in the incoming foreign exchange remittance from abroad. The disbursement takes place not only through its own 28 branches but also through additional pay out locations spread all over Nepal to more than 150 such locations.

The Bank is scheduled to open further branches at Kirtipur in the Valley and Tulsipur in West soon.EBL is the only Bank in Nepal to have a full fledged Representative Office in India duly approved by NRB as well as RBI. The Representative Office among others, facilitates the opening of a bank account in any of EBL’s branch by a Nepalese in India through any of the identified branches of PNB and further facilitates in remitting the funds instantly.

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 27th branch at Besisahar on 4th September 2008. The Chairman of Nagarik Samaj, Besisahar Mr. B. K Baral was the chief guest of the inauguration. �With the opening of the branch EBL has the largest branch networks among private sector commercial banks all connected with Anywhere Branch Banking Systems (ABBS). The bank has 15 ATM counters and has expansion plans to many more locations. EBL debit card also has access to around 150 ATMs in Nepal and more than 1500 ATM locations in India where by EBL customers going to India need not carry cash but simply withdraw through EBL Debit cards. �The chief guest Mr. Baral in the inauguration said that although Besishahar is not economically well off it is rich in resources and the bank would support the business persons and industrialist in harnessing the resources and develop the town economically. He also said that the government is making a target of increasing the monthly income of Nepali to Rs 12 thousand, however the government cannot achieve its target without the help of financial institutions.�The CEO of the bank Mr. Ummat informed that the bank at current has 15 ATMs and would be adding 10 more ATMs during this fiscal year. He also said that the bank has started internet banking and SMS banking and very soon it is going to start bill payment of NTC phones through mobile. �The chairman of the bank Mr. B K Shrestha said that there are many X service men in the area and the services of the bank would help them in remitting their hard earned money. Further he said that customers need to look into the exchange rate that various remittance companies are providing before making decisions and assured that EBL would provide the best of services.�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.

It is a well-known fact that large numbers of people from Nepal have been moving abroad and remitting their earnings to the hometown. Thus with EBL’s more than 175 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 Tulsipur in Dang, Kirtipur and Golfutar within the Kathmandu valley. 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.

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 26th branch at Bhaktapur on 6th June 2008. Indian Ambassador, Mr Rakash Sood was the chief guest of the event. Governer, NRB, Mr. K B Manandhar honoured the event with his presence. Chairman and Managing Director of Punjab, India, Dr. K C Chakrabarty inaugurated the event. With the opening of the branch EBL has one of the largest branch networks among private sector commercial banks 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 125 ATMs in Nepal and more than 1500 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 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 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.

It is a well-known fact that large numbers of people from Nepal 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 Tulsipur, Besisahar, Kirtipur and Golfutar. 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 10 month’s unaudited accounts the Bank’s credit has grown by 34 % as compared to the corresponding period last year, reaching a figure of Rs 1766 Crore. The total deposits of the Bank have increased by 29 % as compared to the corresponding period last year, touching Rs 2262 Crore. 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.  

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. 

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.