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Everest Bank records Rs 157m profit

KATHMANDU, JAN 14 - Everest Bank Ltd., a joint venture with Punjab National Bank, India, has recorded Rs 157 million operating profit during the first six months of the current fiscal year.
According to a press release issued here today, the bank has been able to earn the profit due to the sound lending and recovery policy adapted by the bank.
Meanwhile, the 10th annual general meeting (AGM) of the bank held here today has approved the decision of the bank to pay cash dividend of 20 percent to its shareholders.
The bank is going to open its Representative Office at New Delhi in the coming month, adds the release. At present, the bank has 14 branches in the country.Posted on: 2004-01-15 03:34

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