Everest Bank Ltd. â€“ Increase in Net Profit by 38.30%August 11, 2009
The Board of Directors of Everest Bank Ltd. in its meeting held on 9th August, 2009 discussed the un-audited Profit and Loss Accounts for the financial year ended 31st Asadh, 2066 and the Balance Sheet as on 31st Asadh, 2066.
The Board noted with satisfaction that despite continuing constraints in economy of the country, the Bank was able to increase its net profit by 38% compared to last year – from Rs.45.12 crore to Rs. 62.40 crore. The operating profit has reached Rs. 106.60 crore which was Rs.81.82 crore in the last FY 2064/65.
The deposits increased by 39% and advances by 30% during the period.
The Board also noted with satisfaction that the Asset quality has improved further. The NPA has further gone down to 0.48% from 0.68% in the previous year.
The Bank has now 34 branches .The Bank has the largest net work among private sector commercial banks. The 35th branch is scheduled to be opened at Thamel in Kathmandu within a month.