Everest Branch to Reach Delhi

Everest Bank Limited has received an in-principal approval from the central bank of Nepal to open its first international branch in New Delhi. The expansion of branch was made possible according to NRB's provision on monetary policy to let banks to open international branches.

Earlier, the BOD of bank has recommended 30 per cent bonus shares and 30 per cent cash dividend subject to permission from Nepal Rastra Bank and AGM. The bank increased its net profit by 37 percent in comparison to the preceding year to Rs 638.7 million and its deposits also increased by 31 per cent and advances by 30 per cent during the financial year 2008-09. The NPA of the bank is at 0.48
Source:
Jamb News Service