EBL opens 16th branch office in Pokhara city Himalayan News Service Everest Bank Ltd (EBL) has established a new branch office, 16th in the row, in Pokhara. Shiv Shanker Mukherjee, Indian envoy to Nepal inaugurated the branch at a function here today. Lekh Nath Bhusal, deputy governor of Nepal Rastra Bank (NRB) was also present on the occasion. EBL, established in 1994, has started its operations with its first branch at New Baneshwar, Kathmandu. With an objective of establishing a professional banking standards, it joined its hand with Punjab National Bank (PNB) in 1997. “We at EBL, have always endeavoured in enriching and beautifying the lives through our innovative products and services suiting the needs and requirement of our customers and now we have come to serve the community in Pokhara” said DVSSV Prasad, executive director of the bank. Speaking at the inaugural programme, Indian envoy said that the impressive growth of the bank over the last decade and maintaining the Non-Performing Asset (NPA) at less than one per cent is a positive sign for the healthy growth. Considering the large volume of inward remittance to Pokhara, the deputy governor said that EBL would continue to add value in providing service in facilitating remittance. Based on the first six month’s unaudited accounts, EBL’s operating profit posted an increment of 21 per cent over the last year reaching a figure of about Rs 186.92 million. The Bank’s credit has grown by 25 per cent reaching a figure of Rs 7,198 million. The total deposits has reached to Rs 8,749 million. The Bank continues to maintain strict control over its NPA, which remains at 1.7 per cent in gross value. The Bank’s net NPA is nil as at the close of the financial year 2060-61.