Press Release

The Eighteenth Branch of Everest Bank steps in Chabahil

September 25, 2005

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.