EBL opens its 20th branch at Balaju As part of its aggressive expansion plan, Everest Bank Ltd (EBL) today opened its 20th branch at Balaju, making it a private commercial banks with the largest network in Nepal, S C Gupta, chairman and managing director, Punjab National Bank, India, inaugurated the branch at a function attended by dignitaries including finance minister Dr Ram Sharan Mahat, Shiv Shanker Mukherjee, Indian ambassador to Nepal and Bijay Nath Bhattarai, governor of Nepal Rastra Bank. Jas Pal Singh Jass, executive director of EBL, highlighted progress of the bank under various performance parameters, earning twice the ‘The Excellence Award’ for its performance given by Nepal India Chamber of Commerce & Industry (NICCI). The latest feather in its cap has been ‘Bank of the Year 2006 - Nepal’ award given by The Banker, a publication of Financial Times, London. “With our unrelenting commitment towards customer satisfaction through excellent service, innovation in our products and services as per customer’s expectation and requirement, we once again re-dedicate ourselves towards enriching your world, fulfilling your dreams,” said Jass. According to him, EBL has progressed steadily since it joined hands with PNB as its joint venture partner in 1996. He also claimed that the bank’s non-performing asset (NPA) level has been reduced to 1.04 per cent as of the end of Poush this year, while its net profit grew by 16.4 per cent. “I am pleased to note the impressive growth under all parameters of this joint venture. Keeping NPA at the lowest level, thus enhancing the quality of assets. Innovation in delivering unique products and services and remittance facility are some of the other praise worthy deeds of the bank” stated Dr Mahat. Bhattarai appreciated the bank for maintaining the quality of assets, which is evident from the NPA being the lowest among all commercial banks in Nepal. He praised the bank for its spectacular performance, becoming a significant entity among financial institutions of Nepal. Bhattarai urged the management of the bank to work in the line of providing quality banking services to countryside that will fulfil the social responsibility of the bank. Indian ambassador Mukherjee stated that growth, professionalism, efficiency and innovation shown by the bank will continue to reflect in the new branch, too. He also underlined the need to extend the services to rural areas. “We are confident that the joint venture partnership of PNB with EBL will move from strength to strength. EBL will set exemplary standards of professionalism and play a pivotal role for healthy economic development of the country,” said S C Gupta.