Kathmandu, October 18:

Everest Bank Ltd (EBL), a joint venture of Punjab National Bank (PNB), celebrated its 13th anniversary.

The bank has started its operation in 1994. It is providing customer friendly services through a network of 22 branches and over 250 correspondents across the globe. Within the last 12 years, the bank has been awarded with ‘Bank of the Year 2006,’ by the banker, a publication of financial times, London; ‘NICCI Excellence award’ by Nepal-India Chamber of Commerce for its spectacular performance under finance sector.

The bank offers various services like remittance from India, draft drawing arrangement with PNB and HDFC bank India, direct account credit in PNB branches connected with Central Banking System and RTGS member banks via speed remittance among others.

It also offers a complete range of services and products like Home Loan, Education Loan, EBL Flexi Loan, EBL Property Plus (future lease rental), Home Equity Loan, Vehicle Loan, Loan Against Share, Loan Against Life Insurance Policy and Loan for professionals.

EBL is one of the first banks to introduce Any Branch Banking System (ABBS) in Nepal. It has introduced Mobile Vehicle Banking system to serve the segment deprived of proper banking facilities through its Birtamod branch, which is the first of its kind.

The bank’s performance under all parameters has been outstanding, claims the company. During the fiscal year 2063-64, it registered a net profit of Rs 300.6 million compared to Rs 237.3 million last year, an increase of 26.68 per cent.

The bank was able to increase its operating profit by 31.9 per cent, deposit by more than 36 per cent and advances by 28 per cent during the year compared to the corresponding period last year, claims the bank.