EBL in mid-teens

KATHMANDU: Everest Bank Limited (EBL), which started its operations in 1994, turned 14 on Friday. The bank has 27 branches and 5 extension counters among private banks across Nepal and is planning to open the 28th branch in Golfutar by November. During the fiscal year 2007-08 it made a disposal net profit of Rs 45.12 crore - an increase of 52.23 per cent. It had an operating profit of 47 per cent more than last year. According to a release, assets quality also improved by reduction of Non Performing Asset (NPA) to 0.64 per cent from 0.8 per cent the previous year. EBL’s capital adequacy ratio is 11.44 per cent. — HNS

FNIC warns govt

KATHMANDU: The Federation of National Industries and Commerce (FNIC) on Friday urged the government to guarantee alternate employment for streetside vendors before evicting them. According to a FNIC release, if the government fails to formulate proper programs regarding the vendors, FNIC will stage protest programmes from October 18. FNIC also condemned the act of removing vendors forcibly. — HNS

NATTA team to Manila

Kathmandu: A seven-member team representing Nepal Association of Tour and Travel Agents (NATTA) today left to participate in the 42nd seminar of the United Federation of Travel and Agents Association (UFTAA) which is being held from October 18 to 21 in Manila of the Philippines. According to a NATTA press release, UFTAA’s 43rd seminar will be conducted next year in Nepal. Prime Minister Pushpa Kamal Dahal ‘Prachanda’ wished for the success of the program and sent an invitation for the participation of representatives in the 43rd UFTAA seminar. — HNS