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Sunday, April 8, 2007

Everest Bank Limited

INTRODUCTION

Everest Bank Limited (EBL) started its operations in 1994 with a view and objective of extending professionalized and efficient banking services to various segments of the society. EBL joined hands with Punjab National Bank (PNB), India as its joint venture partner in 1997.

PNB is the latest nationalized bank in India having 110 years of banking history with more than 4500 offices all over India. Of which 1400 branches are interconnected. PNB has over 1000 ATMs spread across India. As on 31/3/05, PNB had a total business of INK 163000 mores and posted a net profit of INR 1410 corers.

Drawing its strength from its joint venture partner, EBL has been steadily growing in its size and operations and established itself as a leading Private Sector Bank. EBL is ranked as No. 2 bank by NRB as per CAELS.

Despite fragile law and order situation especially during last 3-4 years, the Bank has recorded spectacular performance. As per audited accounts of fiscal year 2004/2005, the Bank's operating profit was Rs. 375.20 million registering a growth of 18.9 % over the previous year. The Bank's credit recorded a growth of nearly 30 % over the last year reaching a figure of Rs 7900.09 million. Similarly, the total deposits of the Bank posted a growth of 25.22 % amounting to Rs 10097.69 million over the preceding year.

This sustained growth of the Bank is attributable to its strong systems and procedures, professional approach, quality lending and highly motivated staff members.
The bank is providing its services through a wide network of 18 branches across the nation and over 250 correspondents across the globe. All the major branches of the bank are connected through Anywhere Branch Banking System (ABBS), a facility which enables a customer to do banking transactions from any of the branches irrespective of their having accounts in other branch.

The Bank in association with Smart Choice Technology (SCT) is providing ATM services for its customers. EBL Debit Card can be accessed at more than 50 ATMs and over 250 Point of Sales across the nation. The bank is also managing the SCT ATM at Tribhuvan International Airport for the convenience of the customers and the travelers, the first and the only bank in Nepal to place ATM outlet at the Airport.

EBL is playing a pivotal role in facilitating remittance to and from across globe. Being the first Nepalese bank to open a representative office in Delhi, India, the Nepalese in India can open account in Nepal from the designated branches of Punjab National bank and remit their savings economically through banking channels to Nepal. The bank has a Drafts Drawing Arrangement with 175 branches of PNB all over India.

With an aim to help Nepalese citizens working abroad, the bank has entered into arrangements with banks and finance companies in different countries, which enable quick remittance of funds by the Nepalese citizens in countries like UAE, Kuwait, Bahrain, Qatar, Saudi Arabia, Malaysia, Singapore and U K

The Bank recognizes the value of offering a complete range of services. The bank pioneered in extending various customer friendly products such as Home Loan, Education Loan, EBL Flexi Loan, EBL Property Plus (Future Lease Rentals), Home Equity Loan, Car Loan, Loan Against Shares, Loan Against Life Insurance Policies and Loan for Professionals. EBL have always endeavored in delivering innovative products suiting the consumer's requirements and needs thus enriching, enabling and beautifying their lives.

Corporate Vision
Evolve & position the bank as a progressive, cost effective & customer friendly institution providing comprehensive financial and related services; Integrating frontiers of technology & servicing various segments of society; Committed to excellence in serving the public & also excelling in corporate values.

Corporate Mission
Provide excellent professional services & improve its position as a leader in the field of financial related services; Build & maintain a team motivated & committed workforce with high work ethos; Use latest technology aided at customer satisfaction & act as an effective catalyst for socio-economic developments.

Services & Products of EBL

Deposit Schemes

Fixed Deposit
EBL has introduced several innovative schemes under Fixed Deposit designed to cater to the needs of various segments of customers to meet your specific requirement. Customers can open fixed deposit from 15 days to 60 months.

Cumulative Deposit Scheme
In case if there require bulk amount in future to meet financial needs like children's higher education, their marriage etc. open an account under Cumulative Deposit Scheme and earn higher term deposit interest on quarterly compounding basis. Main features of the scheme are as under.

Participation in the scheme
Any individual including a minor, Proprietorship/Partnership Firms, Associations, Company/Corporate Bodies, Trust, Charitable and Education Institutions, Municipalities, Government/Quasi Government Bodies, NGOs, INGO’s etc can open account under the scheme.

Deposit - Minimum Rs. 5000/-

Period of Deposit - 6 months up to 5 years

Maturity - Principal Amount of deposit with up to date interest shall be paid on maturity date.

Premature cancellation
If any depositor desires to withdraw the deposit before maturity, bank may at its discretion, repay the deposit with up to date interest at the rate applicable to the period for which deposit remained with the bank less penalty. Compounded interest is to be paid on the deposit up to the completed quarter and for further broken period interest will be calculated at the applicable rate on principal plus interest up to the completed quarter.

Overdue Deposit-
The bank may at its discretion, allow interest on overdue deposit from the date of maturity provided the deposit is renewed from the date of its maturity for at least 15 days from the date of presentation.

Current Account
EBL offers a wide range of products and services designed to make banking easier and to match each and every customer’s requirements. Current account is a non-interest bearing account.

EBL's Current Account offers various benefits and flexibility.

§ Free Cheque books
§ Free monthly statement
§ Extended Banking Hours at New Road and Teku
§ 365 days banking

Major branches of EBL are connected through ABBS (Anywhere Bank Branch Service), which enable the customers to withdraw and deposit cash from any of the branches connected through ABBS.

* Saving Account- Saving Account can be opened in NRS and USD

* Interest rates
Interest rate is calculated on monthly minimum balance and is payable half yearly. The account opening form can be collected from the branch or downloaded by clicking here. The duly filled account opening form along with the relevant document can be submitted at the branch.

* EBL's Saving Account offers various benefits

· Free Chequebooks
· Free Statement on demand
· Unlimited withdrawal
· Extended Banking Hours at New Road and Teku
· 365 days banking

* Saving Premium Accounts- The savings that will shine bright in the future.
· Minimum Balance-
The minimum balance required for Saving Premium Fund Accounts shall be Rs. 1 lacs.
* Interest- Interest is calculated on daily balance basis and paid half yearly.
* Additional Benefits
EBL's Saving Premium Accounts offers various benefits
* Free statement on demand
* Free ATM card
* Extended banking hours at New Road and Teku
* Unlimited withdrawal
* ABBS facilities (Anywhere Bank Branch Service)
* 365 days banking

Loan/overdraft - Allowed at 1.5% over deposit rate.

Debit Card.
EBL Debit Card is the key to ultimate convenience regarding day-to-day monetary transactions providing the power of real cash in form of card. Associated with the Smart Choice Technology (SCT), it facilitates wide sharing of ATMs under SCT network. Therefore, EBL Debit card can be accessed at any ATMs linked with SCT for withdrawing cash and also at any of the merchant establishments (POS) having SCT logo, for purchasing goods and services.

Everest Bank Ltd (EBL), a joint venture partner of Punjab National Bank (PNB) is always committed towards excellent service for the people who believe in quality banking. Introduction of EBL Debit card is a step in the same direction.

Features of EBL Debit Card:
* No charges are levied for using EBL Debit card at EBL's ATM counters.
* Cash withdrawal at other SCT Network ATMs other than EBL’s ATM counter is Rs. 25 per transaction
* Balance inquiries through any ATMs are free of cost.
* Charge for issuing a fresh pin is Rs. 50.00
* Charge for lost card is Rs. 200.00
* Annual Charge is Nil
* POS Transaction charges is Nil
* EBL debit card has no expiration date.

Loan scheme
Education Loan Scheme
There are many meritious and deserving students aspiring to reach the sky but may not have the means to achieve. At EBL, they ensure that their dreams do not remain unfulfilled due to lack of funds.
This scheme provides the right answer for students who wish to pursue higher studies in Nepal or abroad, but do not have the means to do so. The criteria for availing the loan and repaying it are given below. At a glance, it will tell the customers how easily they can avail the loan and repay it on easy installment basis.


Interest Rates
The following will be the rates of interest of this Bank with effect from 1st Bhadra 2062.(17th August, 2005)

* Saving Deposit
Saving Deposit NRS.
3.25 % p.a.
Saving Premium*
2.75 % p.a.
US Dollar Saving
2.50% p.a.
* Interest to be paid on daily balance basis subject to retaining an acceptable level of minimum balance.
* Fixed Deposit
15 Days to less than 3 months
2.75 % p.a.
3 Months to less than 6 months
3.00 % p.a.
6 months to less than 1 year
3.50 % p.a.
1 year to less than 2 years
4.00 % p.a.
2 years and above
4.50 % p.a.

* Unfixed Fixed Deposit Scheme
Unfixed Fixed Deposit Scheme allows benefits of higher term deposit rate with quarterly compounding interest rate of 4% while allowing facility of simultaneous overdraft against deposit.
* Deposit Amount - Minimum Rs. 50,000/-
* Period of Deposit- 6 month’s up to 5 years
Maturity Value
Principal Amount of deposit with up to date interest shall be paid on maturity date.
* Premature Cancellation -Allowed at lower rate of interest

Flexibility
Overdraft facility is to be granted through Overdraft Account and Cheque Book to be issued to the borrower on the same day and OD A/C with Nil balance to be opened in the Books of the Account. Actual drawing to be allowed on a subsequent date. The limit under the OD Account is to be 90% of the amount deposited by the account holder.
Tele banking
To provide customer with prompt and efficient service Everest bank has been providing tele-banking service which will enables customers to:
· Make balance and statement inquires
· Get information foreign exchange rate, Interest rate etc.
· Order statement and cheque book
· Get any other required information from the information desk.
Merchant banking
Merchant banking service that the bank provides include activities like
· Underwriting of public issues.
· Locker facilities



List of Departments


1. Baneshwor Main Branch

Kathmandu District, Nepal Ph: 977-1-4780018 (hunting)Fax: 977-1-4781025 : ebl_nb@mos.com.np


2. New Road Branch

Kathmandu District, NepalPh: 977-1-4245782/82,4222230Fax: 977-1-4245799 : eblnr@mos.com.np


3. Teku Branch

Kathmandu District, NepalPh: 977-1-4242333, 4230642Fax: 977-1-4247009 : ebltk@mos.com.np


4. Pulchowk Branch

Lalitpur District, NepalPh: 977-1-5549738, 5549739Fax: 977-1-5549736 : eblpul@mos.com.np


5. Lazimpat Branch

EBL House, Lazimpat,Kathmandu District, NepalPh: 977-1-4443377(hunting)Fax: 977-1-4443160 : ebllaz@ebl.com.np


6. Chabahil Branch

Kathmandu District, NepalTel: 977-1-4464895Fax: 977-1-4464914 : ebl_chab@mos.com.np


7. Satungal Branch

Kathmandu District, NepalTel: 977-1-4311080Fax: 977-1-4310272 : eblsat@mos.com.np



8. Biratnagar Branch

Mangala Devi Super Market Hanuman Das Road, Biratnagar Morang District, NepalPh: 977-21-530528,572645Fax: 977-21-530527 :ebl_brt@wlink.com.np


9. Duhabi Branch

Duhabi, Sunsari District, NepalPh: 977-25-540628Fax: 977-25-540627 :eblduh@wlink.com.np


10. Itahari Branch

Itahari, NepalPh: 025-540628Fax: 025-540627 :eblduh@wlink.com.np


11. Janakpur Branch

Mills Area, JanakpurDhanusha District, NepalPh: 041-525855Fax: 041-525361 :ebljnk@jncsweb.net


12. Birgunj Branch

Adarshanagar, BirgunjParsa District, NepalPh : 051-527163, 523048Fax : 051-527164 :ebl_brj@wlink.com.np


13. ICD (Dry Port)

Parsa District, NepalTel: 977-51-533199 :eblicd@wlink.com.np


14. Simara Branch

Simara Chowk, Simara, Bara District, NepalTel: 977-53-520506,Fax: 977-53-520616 : eblsim@ntc.net.np


15. Pokhara branch

New Road, Pokhara District, NepalTel: 977-61-541491Fax: 977-61-541492 :eblpkr@wlink.com.np


16. Butwal Branch

Malli Complex, B.P. Chowk, Butwal,Rupandehi District, NepalTel: 977-71-543661, 545661, Fax: 977-71-543662 : ebl_btw@wlink.com.np


17. Bhairahawa Branch

Prahari Tole, Siddharatha Highway Bhairahawa, NepalTel: 977-71-527360Fax: 977-527361 : eblbhw@wlink.com.np


18. Dhangadi Branch

Dhangadhi, Kailali District,NepalTel: 091-523641, 523642,Fax: 091-523643 :ebldhn@ugratara.com.np


19. Nepalgunj Branch

Nepalgunj, NepalTel: 977-81-525804


20. Balaju Branch


Everest Bank Global Network

Drawing Arrangement with Exchange Houses

U. A. E. Exchange Centre, L. L. C. P. 0. Box: 170Abu Dhabi - U. A. ETel: 00971-02-6105555Alrajhi Commercial Foreign ExchangePalestine Road, Jeddah, Saudi Arabia Tel: 6700260 Bahrain Financing Company Manama , Bahrain Tel: (973) 228888 Bahrain Exchange Company W.L.L.P.0.Box: 29149 Safat, KuwaitTel: (965) 246-8729Al - Jazeera Exchange Al Sadd Street, DohaTel : 4363822 Al - Saad Exchange CompanyP 0. Box: 17127 Doha, Qatar Tel: (+974) 4323334 Al Ahalia Money Exchange Bureau Ltd. P 0. Box: 2419 Abu- Dhabi, U. A. ETel: (02) 627 00 04 Oman & U. A. E. Exchange Centre & Co. Ltd.P 0. Box: 1116 Postal Code 131, Al Hamriya Sultanate of Oman Tel: 00968-750 830Thomas Cook Al Rostamani Exchange Co. Dubai, United Arab Emirates Tel: (04) 2283822 Alfardan Exchange Company W. L. LP. 0. Box: 339 Doha, QatarTel: (+ 974) 440 8408Asia ExchangeP.O. Box # 13861 Dubai, U.A.ETel: 00971-4-2287761Zenj Exchange Co. W.L.L. P.O. Box 236, Manarna Kingdom of BahrainTel: 00973-17214405 Zarco Exchange UK Ltd. 80 Feversham Avenue, Bournemouth Dorset, 8H8 9NJ, UK Liberal Money Express P. Ltd.P. 0. Box 14393Thamel, Kathmandu, Nepal Phone: 977-1-4418962

Online Remittance

EZ Remit Bahrain Finance Company X Press Money TransferU.A.E. Exchange Nepal RemitLiberal Money Express
Correspondent Banks
USD Nostro Account

1) City Bank N. A. NY 10043New York, USASWIFT: CITIUSOur USD A/C # 36112899

2) Standard Chartered BankNY 10048, New York, USA SWIFT- SCBLUS33Our USD A/C # 3582-059378-001

3) HSBCHSBC Chambers, Corner of Jalan Sultan Jalan Pemancha, Bandar Seri Begawan, Negara Brunei, Darussalam Tel: 225222SWIFT: HSBC BNBBOur USD A/C # 001-206424-090

4) American Express Bank Ltd.New York, NY US Tel: 212 640 3242 Fax: 212 640 4222 SWIFT: AEIBUS33Our USD A/C# 00748368


EURO Account

1) American Express Bank, GMBH Frankfurt, Germany Tel: 4969 97970Fax: 4969 9797 5600 SWIFT: AEIBDEFXOur EURO A/C# 017043206

2) Commerz Bank60261 Frankfurt am Main GermanyTel: 49-69-136-22910 Fax: 4969 136 24802 SWIFT: COBADEFFOur Euro A/C# 400878772300

INR Account

1) Punjab National Bank New Delhi, India Tel: 23328894/237199094 SWIFT: PUNBINBBDOB Our INR A/C # 163

2) Standard Chartered BankKolkotta 700 001, India Tel: 22205271/22200829 SWIFT: SCBLINBBCAL Our INR A/C# 32205019343

3) ICICI Bank Ltd Nariman PointMumbai - 400021, India Our INR A/C # EVBK1202

4) HDFC Bank Ltd.Manekji Wadia Bldg. Nanik Motwani Marg Fort, Mumbai, India Tel: 28474900/4902884 Fax: 28S69271 Our INR A/C# 0600390000146

Multi Currency Account

1) City Bank N. A. P 0. Box: 200 Cottons Centre, Hay's Lane London SE1 2QT, U. K. SWIFT: CITIGB2LOur All Currency A/C: 8399646

JPY Account

1) American Express Bank ltd.4-30-16 Ogikubo, Suginami - ku, Tokyo 167-8530, Japan Tel: (81-3) 3220-6900/6917 Fax: (81-3) 3220-6919 Telex: 2498 AMEXBANK SWIFT: AEIBJPJX Account No.: 313002916




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