Everest Bank profit up 38pc

Everest Bank has posted a 38 percent rise in its net profit in the last fiscal year. The bank's net profit increased to Rs. 624 million and the operating profit reached Rs. 1,066 million in the fiscal year 2008/09. Deposits increased by 39 percent and advances rose by 30 percent during the period, states a press release of the bank. The non-performing assets (NPA) have decreased to 0.48 percent from 0.68 percent in the previous year. The bank has the largest network among private sector commercial banks with 34 branches. The 35th branch is scheduled to be opened at Thamel in Kathmandu within a month.
Source: Kantipur