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Everest Bank Limited (EBL) has opened its 23rd Branch at Gwarko, Lalitpur Kathmandu. It was inaugurated by Dr. Ram Saran Mahat, Finance Minister. His Excellency Shiv Shankar Mukharjee, Ambassador of Indian, Mr. K B Manandhar, Acting Governer, Nepal Rastra Bank were also present in the inauguration.

Mr. Jass appraised the performance of the bank during the last fiscal year. He said that the bank grew by 38% in deposit and 39% in Loans as on Ashad 64. Mr. Mukharjee, Ambassador of India said that banks are about empowering people and enabling them to achieve their goals by the inputs of the bank thorough various services.

Mr. Manandhar in the inauguration congratulated Everest bank on its 23rd branch. He said that people were skeptical on the large number of banks opening and its branch expansion but it was to empower people. With competition banks will have to serve better offers to get customers and hence the rates would be negotiated to the satisfaction of the customers. Further NRB has made a policy where by banks will need to open a branch outside Kathmandu to open a branch in Kathamandu so that region other than Kathmandu too get the banking service. Everest Bank opened a branch in Baglung to open a branch in Gwarko.

Dr. Ram Saran Mahat, Finance Minister said that the banking industry is booming however other industry is not booming like this industry thus banks need to play an important role to strengthen their position. Mr. Mahant expressed his confidence in Everest Bank and praised its performance in its business growth and quality of service till date.

The branch would offer complete range of financial services at competitive rates. The branch has floated a scheme where by accounts can be opened at a minimum balance of Rs 500/- and get free debit card. Further there is a 50% discounts in locker and 0.5% in consumer loans interest rates for a specific period.

An ATM counter is installed in the premises of Gwarko, which is the 10th ATM counter of EBL. There are other ATM installation plans in Biratnagar, Birgunj, Chabahil, Butwal in the times to come. The ATM sharing arrangement with Punjab National Bank, India has facilitated the customers by usage of EBL Debit Cards at more than 870 PNB ATM outlets across India. Similarly, Indian tourists and businessmen having PNB cards will be able to use EBL/SCT ATM, while in Nepal.

The bank is now spread over entire length and breadth of Nepal with an ambitious plan for future expansion to five more branches within this fiscal year.

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.

Everest Bank was the first bank to offer housing facility to its customers by way of housing loans. The bank also pioneered the ABBS facility where by transactions of any branch can be made from anywhere. The bank has also recently launched ‘Bank on Wheels’ in Birtamod, where by the bank is mobile on a vehicle and goes door to door rather than the customer visiting the bank.

As on Kartik end the bank has deposits worth Rs 2003.53 crore and has extended loans worth Rs 1551.32 crore. This is a growth of 27.91% in Deposits and 37.95% in Loans, over the corresponding period last year.

In an effort to provide tech savvy customers better service, the bank is recently undergoing a software change, thereby would be able to offer new product and better tech services to match the aspiration of its customers.

The “7% Convertible Preference Share” of Rs. 100/- each with premium of Rs 100-/ each issued by Everest Bank Ltd. since 2064.03.20 has been closed from 2064.03.26. The Preference Share is to be converted into ordinary Share on each third year i.e. 3rd, 6th, 9th, 12th and 15th @ 20%.

The Bank issued a total of 20.00 lacs shares worth Rs 40.00 crores @ Rs. 200/- each. Of the total share issued, the existing shareholders of the bank are entitled to get preference on allotment to the extent of 18, 90,000 shares whereas the remaining 110,000 shares was offered to the general public. Though the total shares issued were Rs 20.00 lacs million, total value of Rs. 40.00 Crores the bank received an overwhelming response by receiving the subscription for shares of more than 100.00 crores.

Everest Bank Limited family express its’ sincere gratitude for the tremendous response, unstinting support and kind co-operation it received from the Shareholders, other Investors and well wishers.

The EBL family would also like to express its sincere gratitude for the unstinting support and kind co-operation received from Securities Board of Nepal, Nepal Rastra Bank, Citizen Investment Trust, Company Register’s Office and to all the patrons of the bank for making the effort of the bank highly successful.

The opening of our 21 st Branch at Birtamod marks another important step in our commitment towards extending wide range of quality services to our customers. The bank has the largest branch network among the private commercial banks in Nepal.

Mr. Bir Bikram Rayamajhi, Dy. Governor, Nepal Rastra Bank inaugurated the branch at a function attended by various dignitaries. “EBL though faced difficulties in its’ earlier days, as a joint venture partner with PNB, the bank has not just reached to the general public for serving them with excellent banking facilities, but has also helped government to collect government revenues free of cost from most of its branches”, said Mr. Rayamajhi amidst the function.

“We at EBL, have always endeavored in enriching and beautifying the lives through our innovative products and excellent services suiting to the needs and requirement of our customers and with this end in view we have come to serve the community of Birtamod”, said Mr. Jas Pal Singh Jass, Executive Director of Everest Bank Ltd. He further stated that the bank will be implementing the latest software “Finnacle” from February 2008 which will facilitate modern banking services such as internet banking, SMS banking facilities to the convenience of its customers. Mobile banking facility, first of its kind in Nepal will be shortly introduced from Sanichare to Karkarvita whereby customers in these areas will be served from a mobile vehicle.

Mr. B.K. Shrestha, Chairman of the Bank, articulated the bank’s plan for future expansion and continued commitment towards introducing more lines of products to the delight of the customers. . The ATM sharing arrangement of EBL with its joint venture partner, Punjab National Bank- India, enables our customers to access their accounts anywhere from India through EBL Debit Card. Similarly, PNB Customers can also access their accounts at India through PNB card from any ATMs of EBL at a very nominal charge. Hence, EBL Debit card is now accessible to all ATMS of SCT network, more than 500 merchant outlets in Nepal and over 1000 ATMs under PNB across the India.

We are the first private commercial bank appointed by Nepal Rastra Bank to extend services in line with the collection of government revenue. For facilitating the service, we have opened counters at Lazimpat, Babarmahal, Pulchowk and ICD Birgunj for collection of the revenue

Based on unaudited financial result As on Chaitra End 2063,

Ever since its establishment in 1994, Everest Bank Ltd. has been continuously reaching its valuable customers by offering a wide range of customer friendly products thus enriching their world and hence enabling them to fulfill their dreams. Well equipped with the latest technology, Everest Bank Ltd. can boast of having the largest network of branches amongst all the private sector banks in Nepal which are connected to each other through Anywhere Branch Banking Systems (ABBS). Based on its spectacular performance, the bank has been conferred with “Bank of the year -2006, Nepal” by The Banker, a publication of Financial Times, London

In order to augment the huge volume of inward remittance, Everest Bank Ltd. officially  launched  its own web-based online product “EVEREST REMIT” on 12th September 2006 from Qatar and UAE which facilitates people from various parts of the globe to remit their savings at a nominal rate to their beneficiaries here in Nepal.

With just a click away, EVEREST REMIT is highly efficient as compared to the TTs and Drafts. Dedicated to provide secured online money transferring facility EVEREST REMIT is well equipped with high security features, using universally accepted VERISIGN Digital Certificate, besides other security measures

On the auspicious occasion of launching of EVEREST REMIT, a special promotional campaign was organized till December 2006. To promote this offer an exciting lottery offer was embedded in the transactions wherein two remitters, each from Qatar and UAE, remitting more than Nrs. 40000.00 or above would eligible for the two way ticket from Qatar and UAE respectively.

Mr.Deva Nand Mandal of Doha, Qatar with Random Identification Number (RIN) E347763750351 and Mr. Durga Bahadur Magar, of Dubai, UAE with Random Identification Number (RIN) E206413485471 won the prizes.