Archives

During the 9th /10th /11th Annual General Meeting of Nepal India Chamber of Commerce & Industry    (NICCI), four institutions were presented the “NICCI Excellence Award” under four Categories – Large Industries, Medium Size Industries, Service & Small Sector Industry and Finance Sector. 

As per the financial result on Jestha 2063, the bank has recorded a growth of 21 percent in the operating profit amounting to Rs. 435 million as compared to the corresponding period last year. The Deposit and Advances have grown by 41 percent and 26 percent respectively resulting in a total business of around Rs 24 billion. The bank has one of the lowest NPA in the banking Industry, thus reflecting effective credit management of the bank. Everest Bank Limited (EBL) is one of the premier banks in Nepal, providing efficient and customer-friendly services through a network of 18 branches and over 250 correspondent banks across the globe. The Bank has branches in Biratnagar, Duhabi, Itahari, Janakpur, Birgunj, ICD-Birgunj, Simara, Pokhara, Butwal, Bhairahawa and Dhangadi, besides seven branches within Kathmandu Valley.  The bank is providing ATM servces to its customers through more than 50 ATMs in the country and 800 Point of Sales (POS).  Similarly, the bank has been conscious of its social responsibilities by extending support to the disabled, poor people, victims of natural disaster. In its continued commitment towards enriching and enabling the lives of the general people, the bank has recently organized blood donation campaign bringing together about 100 donors to participate in this noble cause of “GIVE BLOOD SAVE LIFE”.

Based on the half yearly unaudited accounts of FY 2062/2063 as on Poush end 2062, the Bank’s operating profit was Rs 217.27 million registering a growth of 16.2% over the previous year. The Bank’s credit recorded a growth of 34 % reaching a figure of Rs 961.80 million. Similarly, the total deposits of the Bank posted an unprecedented increment of 41% amounting to Rs 12349.77 million from Rs. 874.92 million over the preceding year. The capital adequacy ratio of the bank stands at 12.33% as against NRB’s requirement of 12%. The from 1.96% in the corresponding period last year, one of the lowest NPA among the banks in Nepal, a commendable achievement of the bank.This sustained growth of the Bank is attributed to its strong systems and procedures, professional approach, quality lending, and highly motivated staff members. The bank provides a wide range of banking facilities through a wide network of 18 branches (largest branch network among the commercial banks in Nepal) and over more than 250 reputed correspondent banks across the globe. All the major branches are interconnected through Anywhere Branch Banking Systems (ABBS) which enables its customers to do banking transactions from any of these branches irrespective of their having accounts in the other branch. The bank’s EBL Debit Card can be accessed through 52 ATM centers associated with SCT network and around 500 Point of Sales. In our unrelenting endeavor to enrich, enable and beautify the lives of our customers, Everest Bank Ltd.(EBL) has always strived to introduce tailor made products suiting the needs and requirements of its customer and in similar attempt, the bank has come up yet with another futuristic deposit scheme – “Sunaulo Bhawisya Yojana,” which enables the customers to save even regular small savings into a bulk amount at a future date that may be utilized for special purposes like Children’s higher education/ marriage, business expansion, renovation of business premises etc with attractive rate of return. Likewise EBL Home Loan, EBL Education Loan, EBL Flexi Loan, EBL Professional Loan etc. are some of our innovative products offered to our customer thus helping them realize their dreams. Our aspiration to” Enriching your world, fulfilling your dreams” has always stimulated us at EBL to present such tailor made products beneficial to our customers. Main Highlight of Financial Results as on Push end 2062

In our unrelenting endeavor to enrich, enable and beautify the lives of our valued customers, Everest Bank Ltd.(EBL) has come up yet with another futuristic deposit scheme – “Sunaulo Bhawisya Yojana,” which enables the customers to save regular small savings into a bulk amount at a future date that may be utilized for special purposes like Children’s higher education/ marriage, business expansion, renovation of business premises etc with higher rate of return. Under this new deposit scheme, the depositor shall deposit at least Rs 500.00 with no maximum limit (in a multiple of Rs 100.00 thereof) every month for a specified period of time and the bank shall pay the principal amount along with half yearly compounded interest to the depositor at the time of the maturity; thereby offering higher rate of return to its customers. The deposit period is from 1 year upto 5 years in multiple of 12 months. Under this scheme the depositor has the option of giving a standing instruction to the bank for debiting their Saving/ Current account to credit their Sunaulo Bhawisya Yozana account at the end of each nepali month. Any individual (even in the name of minor), proprietorship, partnership, associations, company corporate bodies, trusts etc. can participate in this scheme. The scheme also has the flexibility to extend advance upto 90% of the deposited amount at 1.25% higher than the deposit rate. The scheme further offers reduction of 50% on service charges for all those account holders incase they avail various retail products of the bank such as : EBL Home Loan, EBL Vehicle Loan, EBL Education Loan, EBL Flexi Loan etc.

Based on the first six month’s un-audited financial result of fiscal year 2062/63, the bank’s operating profit was Rs. 217.28 million recording a growth of 16.24% compared to the corresponding period last year. Similarly, the total deposit and total advances of the bank have reached Rs 12349.80 million and Rs 9617.90 million, registering an increment of 41.15% and 33.72% respectively over the corresponding period last year. This outstanding performance and growth of the bank is the outcome of the continuous effort of the bank in introducing the innovative products suiting the need and requirements of it’s customers and is attributed to the strong systems and procedures, professional approach quality lending and motivated staff members.

NOTE TO EDITORS: Everest Bank Limited (EBL) was established in 1994 and started its operations with its first branch at New Baneshwor Katmandu. With a objective of establishing a professional banking standards, EBL joined hands with Punjab National Bank (PNB), the largest public sector bank in India as its joint venture partner in India in 1997. EBL is reckoned as one of the fastest growing private banks of Nepal, serving its customers through a wide network of 18 branches and over 250 correspondents across the globe. All the major branches of the bank are interconnected through Anywhere Branch Banking Systems (ABBS), a facility which enables its customers to do banking transactions from any of these branches irrespective of their having accounts in the other branch. The bank’s EBL Debit Card can be accessed through more than 52 ATM outlets associated with SCT network and around 500 Point of Sales.

The Board of Directors of Everest Bank Ltd. in its meeting held on 26th September, 2005 approved the Profit and Loss Accounts for the financial year ended 31st Asadh, 2062 (15th July, 2005) and the Balance Sheet as on 31st Asadh, 2062 (15th July, 2005). The Board noted with satisfaction that despite constraints in economy the Bank was able to increase its deposits by more than 25% and advances by almost 30% during the year compared to the previous year. This resulted in increase in operating profit from Rs.31.65 crore to Rs.37.52 crore – an increase of 18.9% over last year. After providing provisions for income tax and statutory provisions there was a disposable net profit of Rs.17.08 crore compared to Rs. 14.36 crore last year, an increase of 18.9%. The Board also resolved to recommend to the forthcoming Annual General Meeting of its shareholders Bonus shares of 20%, net of tax @ 5% (tax will be paid by the Bank towards tax on 20% bonus).  The Board also noted with satisfaction that the Bank had opened two branches during the last financial year namely: a) Pokhara andb) Dry Port at Birgunj and has opened two more branches during the current financial year namely: a) Itahari in Morang District and b) Chabahil in Kathmandu Valley. The Board further noted with satisfaction that the Management is now preparing Five Years Strategic Plan so as to increase the deposit base to Rs.2500 crore or more and consequent increase in lending and profit. The required further upgrading in IT facilities, recruitment of best available manpower and providing them specialized training as well as upgrading Internal Audit System is being worked out and implemented. The Board considered the request received from the shareholders from towns like Biratnagar and Birgunj for holding Annual General Meeting of the Bank in their towns by rotation. The Board decided that the ensuing Annual General Meeting of the Board shall be held at Biratnagar and directed the Secretary of the Bank while issuing notice to the shareholders to inform about the venue of the ensuing AGM at Biratnagar.

The more places we reach, the more smiles we deliver. After making our presence felt at New Baneswor, New Road , Satungal, Butwal, Bhairahawa, Birgunj, Simara, Biratnagar, Duhabi, Teku, Dhangadhi, Pulchowk, Janakpur, Lazimpat, Pokhara, Itahari we have opened our 18th branch at Chabahil in an endeavor to provide banking facilities to large and well spread out sections of the society. Mr. S.C Gupta, Chairman & Managing Director, Punjab National Bank inaugurated the branch at a function attended by various dignitaries of the nation. Mr. Lekh Nath Bhusal, Acting Governor, NRB, was the chief guest of the function.

“The outstanding performance and steady growth of the bank is the outcome of the continuous effort of the bank in bringing new products suiting the need and requirement of its customers” said Mr. Lekh Nath Bhusal, Acting Governor of NRB.

“I am very pleased to note that Everest Bank is having one of the lowest NPA, (Gross NPA is 1.60% and net NPA is nil) in the Nepalese banking industry. Per employee business, profitability, and total business of the bank have shown impressive growth and further with the expertise of its joint –venture partner, Punjab National Bank, EBL will reach greater heights in the days to come”, said Mr. S.C Gupta, Chairman & Managing Director, Punjab National Bank, India.

Mr. B.K Shrestha, Chairman of the bank highlighted the pivotal role played by the bank in facilitating the remittance business from across the globe.

Everest Bank Limited (EBL) was established in 1994 and started its operations with its first branch at Naya Baneshwar Katmandu. With a objective of establishing a professional banking standards, EBL joined hands with Punjab National Bank (PNB), the largest public sector bank in India as it’s joint venture partner in India in 1997. Everest Bank is one of the fastest growing private banks, serving its valued customers through a network of 18 branches with the opening of Chabahil branch and over 250 correspondents around the globe. All the major branches are interconnected through Anywhere Branch Banking Systems (ABBS), a facility which enables its customers to do banking transactions from any of these branches irrespective of their having accounts in the other branch. The bank’s EBL Debit Card can be accessed through more than 50 ATM centers associated with SCT network and around 250 Point of Sales.

As per unaudited accounts of FY 2004/2005, the Bank’s operating profit was Rs 376.91 million registering a growth of 19.14% over the previous year. The Bank’s credit recorded a growth of 29.60 % over the last year reaching a figure of Rs 7900.09 million. Similarly, the total deposits of the Bank posted a growth of 25.22 % amounting to Rs 10097.69 million over the preceding year. This sustained growth of the Bank is attributed to its strong systems and procedures, professional approach, quality lending and highly motivated staff members

Recognizing the value of offering a complete range of services not only to corporate but also to individuals, EBL has pioneered in the banking sectors in extending various customer friendly products like Home Loan, education loan, EBL Flexi Loan, Loan against Future Lease Rentals and Home Equity Loan, car loan, loan against shares and loan against insurance policies etc., thus helping people realize their dreams.

The more places we reach, the more smiles we deliver. After making our presence felt at New Baneswor, New Road , Satungal, Butwal, Bhairahawa, birgunj, Simara, Biratnagar, Duhabi, Teku, Dhangadhi, Pulchowk, Janakpur, Lazimpat, Pokhara, we have opened our 17th branch at Itahari, Sunsari in an endeavor to provide banking facilities to large and well spread out sections of the society.Mr. Shiva Raj Shrestha, Chief Manager, NRB inaugurated the branch at a function attended by various other dignitaries of Sunsari.

Applauding the outstanding performance of the bank over the years and the immense progress in retail lending sector made by the bank, Mr. Shrestha Expressed his appreciation for following the NRB guidelines meticulously

 “We at EBL, have always endeavored in enriching and beautifying the lives through our innovative products and services suiting the needs and requirement of our customers and with this objective in view we have come to serve the people of Itahari” said Mr. DVSSV Prasad, Executive Director of the bank.

Mr. Tirtha Gautam, the president of Chamber of Commerce of Itahari hailed the bank’s attempt to open a branch at Itahari, Sunsari and underlined the need to spread the banking wings to the rural areas for encouraging banking habits among the individuals who are deprived of the quality service and diversified products of the commercial banks.

Everest Bank Limited (EBL) was established in 1994 and started its operations with its first branch at Naya Baneshwar Katmandu. With a objective of establishing a professional banking standards, EBL joined hands with Punjab National Bank (PNB), the largest public sector bank in India as it’s joint venture partner in India in 1997. Everest Bank is one of the fastest growing private banks, serving its valued customers through a network of 17 branches with the opening of Itahari branch and over 250 correspondents around the globe. All the major branches are interconnected through Anywhere Branch Banking Systems (ABBS), a facility which enables its customers to do banking transactions from any of these branches irrespective of their having accounts in the other branch. The bank’s EBL Debit Card can be accessed through more than 50 ATM centers associated with SCT network and around 150 Point of Sales.

Recognizing the value of offering a complete range of services not only to corporate but also to individuals, EBL has pioneered in the banking sectors in extending various customer friendly products like Home Loan, education loan, EBL Flexi Loan, Loan against Future Lease Rentals and Home Equity Loan, car loan, loan against shares and loan against insurance policies etc., thus helping people realize their dreams.