Everest Bank Ltd

Unaudited Financial Result

4th Quarter Ending F/Y 2080/81

Unaudited Condensed Statement of Financial Position

As on Quarter Ended 31 Ashadh 2081
Fig in ‘000
This Quarter Immediate Previous
Assets Ending year Ending

Cash and cash equivalent 7,308,052 15,378,248

Due from Nepal Rastra Bank 20,764,973 13,933,794
Placement with Bank and Financial Institutions 6,482,025 5,980,975
Derivative financial instruments 18,513 -
Other trading assets - -
Loan and advances to B/FIs 7,652,663 8,076,881
Loans and advances to customers 179,647,698 159,479,295
Investment securities 65,156,052 40,201,725
Current tax assets 525,463 520,852
Investment in subsidiaries - -
Investment in associates 727,810 727,810
Investment property 522,302 -
Property and equipment 3,605,909 3,619,403
Goodwill and Intangible assets 24,477 24,949
Deferred tax assets - -
Other assets 1,525,222 2,146,560
Total Assets 293,961,158 250,090,493
Liabilities
Due to Bank and Financial Institutions 1,071,805 1,219,274
Due to Nepal Rastra Bank - 23,767
Derivative financial instruments - 47,597
Deposits from customers 232,316,604 198,007,807
Borrowing 2,349,196 2,664,217
Current Tax Liabilities - -
Provisions - -
Deferred tax liabilities 138,467 173,207
Other liabilities 26,702,317 18,979,341
Debt securities issued 3,603,613 3,603,613
Subordinated Liabilities - -
Total liabilities 266,182,002 224,718,823
Equity
Share capital 11,767,904 10,698,094
Share premium 238,470 238,470
Retained earnings 3,514,492 4,110,488
Reserves 12,258,290 10,324,617
Total equity attributable to equity holders 27,779,156 25,371,669
Non-controlling interest
Total equity 27,779,156 25,371,669
Total liabilities and equity 293,961,158 250,090,493
 Unaudited Condensed Statement of Profit or Loss
For the Quarter Ended 31 Ashadh 2081
Fig in ‘000
Current Year Previous Year
Corresponding
Upto This Upto This
This This
Quarter Quarter
Quarter Quarter
Particulars (YTD) (YTD)
Interest income 5,484,768 22,454,915 5,907,991 22,400,611
Interest expense 3,457,285 14,794,367 4,082,800 14,988,171
Net interest income 2,027,483 7,660,547 1,825,192 7,412,440
Fee and commission income 469,864 1,638,454 418,929 1,347,521
Fee and commission expense 104,662 295,238 91,942 271,927
Net fee and commission income 365,202 1,343,216 326,987 1,075,594
Net interest, fee and commission 2,392,685 9,003,763 2,152,179 8,488,034
income
Net trading income 84,050 338,568 64,137 182,784
Other operating income (9,670) 52,171 48,712 94,188
Total operating income 2,467,065 9,394,502 2,265,029 8,765,007
Impairment charge/(reversal) for loans (354,782) 282,404 219,861 771,361
and other losses
Net operating income 2,821,847 9,112,098 2,045,167 7,993,646
Operating expense
Personnel expenses 569,094 2,285,354 490,598 2,129,931
Other operating expenses 310,576 1,039,675 84,593 736,669
Depreciation & Amortisation 65,425 183,778 175,292 309,475
Operating Profit 1,876,753 5,603,292 1,294,685 4,817,571
Non operating income - - (229) -
Non operating expense 2,066 pps2,227 1,119 1,286
Profit before income tax 1,874,687 5,601,064 1,293,336 4,816,285
Income tax expense
Current Tax 782,503 1,900,417 390,690 1,447,575
Deferred Tax - - 6,595 6,595
Profit for the period 1,092,183 3,700,648 896,051 3,362,115
Condensed Statement of Comprehensive Income
Profit/(Loss) for the period 1,092,183 3,700,648 896,051 3,362,115
Other Comprehensive Income 31,838 (140,994) 545,840 175,464
Total Comprehensive Income 1,124,021 3,559,654 1,441,891 3,537,579
Earnings per share
Basic earnings per share 31.45 31.43
Diluted earnings per share 31.45 31.43
Profit attributable to:
Equity holders of the Bank 1,092,183 3,700,648 896,051 3,362,115
Non-controlling interest -
Profit for the period 1,092,183 3,700,648 896,051 3,362,115
 Unaudited Statement of Comprehensive Income
For the Quarter Ending 31 Ashadh, 2081
Fig in ’000.
Current Year Previous Year
Corresponding
Upto This Quarter Upto This Quarter
This Quarter This Quarter
Note (YTD) (YTD)
Profit for the year 1,092,200 3,700,665 896,051 3,362,115
Other comprehensive income, net of income tax
a) Items that will not be reclassified to profit or loss
Gains/(losses) from investments in equity instruments measured at fair value (53,422) 87,212 (85,620) (204,512)
Gains/(losses) on revaluation - - 3,554 3,554
Actuarial gains/(losses) on defined benefit plans (115,800) (115,800) (81,085) (81,085)
Income tax relating to above items 60,426 60,426 (312,647) (312,647)
Net other comprehensive income that will not be reclassified to profit or loss (53,422) 31,838 (140,994) (594,690)
b) Items that are or may be reclassified to profit or loss
Gains/(losses) on cash flow hedge - - -
Exchange gains/(losses) (arising from translating financial assets of foreign
operation) - - -
Income tax relating to above items - - -
Reclassify to profit or loss - - - -
Net other comprehensive income that are or may be reclassified to profit or loss - - - -
Share of other comprehensive income of associate accounted as per equited
c) method - - - -
Other comprehensive income for the year, net of income tax - - -
Total comprehensive income for the period 1,124,038 3,559,671 301,361 4,091,624

Total comprehensive income attributable to:

Equity holders of the Bank 1,124,038 3,559,671 301,361 4,091,624
Non-controlling interest - - - -
Total comprehensive income for the period 1,124,038 3,559,671 301,361 4,091,624

Earnings per share

Basic earnings per share 31.45 31.43
Annualized Basic Earnings per share 31.45 31.43
Diluted Earnings per Share 31.45 31.43
 Unaudited Condensed Statement of changes in equity
For the Quarter Ended 31 Ashadh 2081
Fig in ‘000.
Non-
Total
Attributable to equity holders of the Bank controllin
equity
g interest

Regulatory

Redemptio
equalizatio

Revaluatio
Debenture
Fair value

n Reserve

n Reserve
Exchange
premium

n reserve

Retained
General

earning
Capital

reserve

reserve

reserve

reserve
Other
Share

Share

Total
Balance at Shawan 1, 2079 9,467,340 238,470 5,335,919 51,738 1,018,468 693,538 468,845 971,431 3,632,755 33,018 22,561,775 - 22,561,775
Comprehensive income for the Period
Profit for the period - - - - - - - - 3,362,115 - 3,362,115 - 3,362,115
Other comprehensive income, net of tax - -
Total comprehensive income for the period - - - - - 191,222 - - 3,362,115 (15,953) 3,537,384 - 3,537,384
Contributions from and distributions to owners - - 672,423 6,456 76,007 - 142,797 - (926,138) 28,455 - - -
Right share issued (Calls in Advance) - -
Right share issued - -
Share based payments - -
Dividends to equity holders - -
Bonus shares issued 1,230,754 - - - - - - - (1,230,754) - - - -
Cash dividend paid - - - - - - - - (727,490) - (727,490) - (727,490)
Dividends to shareholders (ordinary) - - -
Dividends to shareholders (preference) - - -
Total contributions by and distributions 1,230,754 - - - - - - - (1,958,245) - (727,490) - (727,490)
Balance at Ashadh End 2080 10,698,094 238,470 6,008,342 58,194 1,094,475 884,760 142,797 971,431 4,110,488 45,519 25,371,669 - 25,371,669

Balance at Shawan 1, 2080 10,698,094 238,470 6,008,342 58,194 1,094,475 884,760 142,797 971,431 4,110,488 1,164,618 25,371,669 - 25,371,669
Comprehensive income for the period
Profit for the period - - - - - - - - 3,700,665 - 3,700,665 - 3,700,665
Other comprehensive income, net of tax - -
Total comprehensive income for the period - - - - - (59,934) - - 3,700,665 (81,060) 3,559,671 - 3,559,671
Contributions from and distributions to owners - - 740,133 11,429 701,894 - 625,778 - (2,100,355) 21,121 - - -
Share issues - -
Share based payments - -
Dividends to equity holders - -
Bonus shares issued 1,069,809 - - - - - - - - - 1,069,809 - 1,069,809
Cash dividend paid - - - - - - - - (1,126,509) - (1,126,509) - (1,126,509)
Dividends to shareholders (ordinary) - - - - - - - - (1,069,809) - (1,069,809) - (1,069,809)
Dividends to shareholders (preference) - - - - - - - - - - - - -
Total contributions by and distributions 1,069,809 - - - - - - - (2,196,319) - (1,126,509) - (1,126,509)
Balance at Ashadh End 2081 11,767,904 238,470 6,748,475 69,622 1,796,369 824,826 768,575 971,431 3,514,478 (14,420) 27,804,831 - 27,804,831
Ratios as per NRB Directive

Current Year Previous Year

Corresponding
This Upto This Quarter This Upto This Quarter
Particulars Quarter (YTD) Quarter (YTD)
Capital Fund to RWA 12.61% 13.36%
Non-Performing Loan (NPL) to Total Loan 0.71% 0.79%
Total Loan Loss Provision to Total NPL 261.42% 235.64%
Cost of Funds 5.64% 7.75%
Credit to Deposit Ratio 80.29% 82.32%
Base Rate (Average) 7.29% 9.47%
Interest Rate Spread 3.98% 3.97%
Market Share Price (in Rs.) 560.00 563.00
Return on Total Assets (Annualized in %) 1.36% 1.48%
Return on Equity (Annualized in %) 13.32% 13.31%
Net Worth Per share (in Rs.) 236.06 238.33
Total Assets Per Share 2,311.59 2,144.90
 Statement of distributable profit or loss
For the Quarter Ended 31 Ashadh 2081
(As per NRB Regulation)
Fig In ‘000
Bank
Previous
Current Year
Year
Net profit or (loss) as per statement of profit or loss 3,700,647 3,362,115
Appropriations:
a. General reserve 740,130 672,423
b. Foreign exchange fluctuation fund 11,429 6,456
c. Capital redemption reserve 625,778 142,797
d. Corporate social responsibility fund 20,490 17,795
e. Employees' training fund 631 10,660
f. Other - -
Profit or (loss) before regulatory adjustment 2,302,203 2,511,984
Regulatory Adjustment : - -
a. Interest receivable (-)/previous accrued interest received (+) (101,882) (162,144)
b. Short loan loss provision in accounts (-)/reversal (+) - -
c. Short provision for possible losses on investment (-)/reversal (+) - -
d. Short loan loss provision on Non Banking Assets (-)/reversal (+) (518,952) (1,147)
e. Deferred tax assets recognised (-)/ reversal (+) - 111,957
f. Goodwill recognised (-)/ impairment of Goodwill (+) - -
g. Bargain purchase gain recognised (-)/reversal (+) - -
h. Actuarial loss recognised (-)/reversal (+) (81,060) (15,759)
i. Other - (8,915)
Net profit for the Qtr end Ashadh Available for distribution 1,600,296 2,435,977
Opening Retained Earning as on Shrawan 1 4,110,488 3,632,755
Adjustment (+/-) - -
Distribution: - -
Bonus Shares Issued (1,069,809) (1,230,754)
Cash Dividend Issued (1,126,509) (727,490)
Total Distributable profit or (loss) as on Ashadh end 3,514,465 4,110,488
Annualized Distributable Profit/Loss per Share 29.86 38.42
Unaudited Condensed Statement of Cash Flows
For the Quarter Ended 31 Ashadh 2081 Rs. In ‘000
Corresponding
Upto This
Previous Year
Quarter
Upto this Quarter
CASH FLOWS FROM OPERATING ACTIVITIES
Interest received 18,714,726 19,296,252
Fees and other income received 1,638,454 1,347,521
Dividend received - -
Receipts from other operating activities 272,458 246,148
Interest paid (14,161,932) (14,244,690)
Commission and fees paid (295,238) (271,927)
Cash payment to employees (2,250,529) (2,131,745)
Other expense paid (1,039,675) (752,372)
Operating cash flows before changes in operating assets and liabilities 2,878,264 3,489,188
(Increase)/Decrease in operating assets
Due from Nepal Rastra Bank (6,831,179) (2,828,762)
Placement with bank and financial institutions (501,050) (3,105,475)
Other trading assets - -
Loan and advances to bank and financial institutions 450,546 1,503,247
Loans and advances to customers (18,952,808) (15,308,066)
Other assets (649,959) (199,915)
Increase/(Decrease) in operating liabilities
Due to bank and financial institutions (147,469) 486,200
Due to Nepal Rastra Bank (23,767) (2,912,254)
Deposit from customers 34,308,797 25,268,622
Borrowings (315,021) 86,105
Other liabilities 7,579,315 (3,320,899)
Net cash flow from operating activities before tax paid 17,795,669 3,157,991
Income taxes paid (1,905,027) (1,403,110)
Net cash flow from operating activities 15,890,641 1,754,882
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of investment securities (25,039,946) (3,749,250)
Receipts from sale of investment securities - -
Purchase of property and equipment (168,408) (291,013)
Receipt from the sale of property and equipment (522,302) 34,172
Purchase of intangible assets - (15,703)
Receipt from the sale of intangible assets - -
Purchase of investment properties - -
Receipt from the sale of investment properties (620) 3,423
Interest received 3,487,186 2,733,099
Dividend received 3,446 1,959
Net cash used in investing activities (22,240,644) (1,283,314)
CASH FLOWS FROM FINANCING ACTIVITIES
Receipt from issue of debt securities - 2,277,985
Repayment of debt securities - -
Receipt from issue of subordinated liabilities - -
Repayment of subordinated liabilities - -
Receipt from issue of shares - -
Dividends paid (1,114,677) (727,064)
Interest paid (651,231) (694,427)
Other receipt/payment - -
Net cash from financing activities (1,765,907) 856,493
Net increase (decrease) in cash and cash equivalents (8,115,910) 1,328,061
Cash and cash equivalents at Shawan 1, 2080 15,378,248 14,024,364
Effect of exchange rate fluctuations on cash and cash equivalents held 45,715 25,823
Cash and cash equivalents at Ashadh End 2080 7,308,052 15,378,248
1. Basis of preparation
The interim financial statements of the Bank have been prepared in accordance with the Nepal
Financial Reporting Standards (NFRS) adopted by the Accounting Standard Board of Nepal.

2. Statement of Compliance
The interim financial statements of the Bank have been prepared in accordance with Nepal
Financial Reporting Standards (NFRS) to the extent applicable and as issued by Accounting
Standard Board- Nepal

3. Use of Estimates, assumptions and judgments

The preparation of the interim financial statements in accordance with NFRS requires management
to make judgements, estimates and assumptions in applying the accounting policies that affect the
reported amounts of assets, liabilities, income and expenses. Due to the inherent uncertainty in
making estimates, actual results reported in future periods may be based upon amounts which differ
from those estimates. Estimates, judgements and assumptions are periodically evaluated and are
based on historical experience and other factors, including expectations of future events that are
believed to be reasonable under the circumstances. Revisions to accounting estimates are
recognized prospectively.

4. Changes in Accounting policies

The bank has adopted NFRS 09 for classification of financial instruments, earlier classified as per
NAS 39, as issued by ASB Nepal, which resulted in changes in accounting policies and adjustments
to the amounts previously recognized in the interim financial statements.
5. Significant Accounting Policies

a. Basis of Measurement
The interim financial statements have been prepared on historical cost basis except for following
material items in the statement of financial position:
➢ Financial assets other than measured at amortized cost are measured at fair value
➢ Non-derivative financial instruments at fair value through profit or loss are measured at fair
value
➢ Derivative financial instruments are measured at fair value, if any
➢ Inventories are measured at cost or net realizable value whichever is lower
➢ Net defined benefit liabilities are measured at Present Value of Defined Benefits Obligation less
the Total Plan Assets.

b. Basis of Consolidation
The bank does not have control over any other entity for consolidation of financial statements.
Investments in associates are accounted for in financial statements as per equity method
although associate’s financial statements are not prepared using uniform accounting policies for
like transactions and events in similar circumstances as it is impracticable to do so.
c. Cash and Cash Equivalent
Cash and cash equivalent comprise the total amount of cash-in -hand, balances with other bank
and financial institutions, money at call and short notice, and highly liquid financial assets with
original maturities period of three months or less from the acquisition date that are subject to
an insignificant risk of changes in their fair value and are used by the bank in the management of
its short-term commitments.
Cash and Cash equivalents are measured at amortized cost in the statement of financial
position.
d. Financial assets and Financial liabilities
The bank classifies its financial assets into the following measurement categories:
a) financial assets held at fair value through profit or loss;
b) financial assets held at fair value through Other Comprehensive Income, and
c) financial assets held at amortized cost.

Financial liabilities are classified as either

a) held at fair value through profit or loss, or
b) held at amortized cost.

e. Recognition
The Bank initially recognizes a financial asset or a financial liability in its statement of financial
position when, and only when, it becomes party to the contractual provisions of an instrument. The
Bank initially recognize loans and advances, deposits; and debt securities/ subordinated liabilities
issued on the date that they are originated which is the date that the Bank becomes party to the
contractual provisions of the instruments. Investments in equity instruments, bonds, debenture,
Government securities, NRB bond or deposit auction, reverse repos, outright purchase are
recognized on trade date at which the Bank commits to purchase/ acquire the financial assets.
Regular purchase and sale of financial assets are recognized on trade date.
f. Measurement
Initial Measurement
At initial recognition, the bank measures a financial assets or financial liability at its fair value
plus or minus, in the case of financial asset or financial liability not at fair value through profit or
loss, transaction cost that are incremental and directly attributable to the acquisition or issue of
the financial assets or financial liability, such as commission and fees. The transaction cost of
financial assets and financial liabilities carried at fair value through profit of loss are expensed in
profit or loss.

Subsequent Measurement
A financial asset or financial liability is subsequently measured either at fair value or at
amortized cost based on the classification of the financial asset or liability.
g. Derecognition
Derecognition of Financial Assets
The Bank derecognizes a financial asset when the contractual rights to the cash flows from the
financial asset expire, or when it transfers the financial asset in a transaction in which
substantially all the risks and rewards of ownership of the financial asset are transferred or in
which the Bank neither transfers nor retains substantially all the risks and rewards of ownership
and it does not retain control of the financial asset.

Derecognition of Financial Liabilities

A financial liability is derecognized when, and only when it is extinguished (i.e. when the
obligation specified in contract is discharged, cancelled or expired). If the liability is renegotiated
with the original lender on substantially different contractual terms, the original liability is
derecognized and new liability is recognized.

Determination of Fair Value

‘Fair value’ is the price that would be received to sell an asset or paid to transfer a liability (exit
price) in an orderly transaction between market participants at the measurement date in the
principal or, in its absence, the most advantageous market to which the Group has access at that
date.
h. Impairment
At each reporting date, the Bank assesses whether there is objective evidence that a financial
asset or group of financial assets not carried at fair value through The Statement of Profit or
Loss are impaired.
However, in case of loans and advances, impairment loss is measured as the higher of amount
derived as per norms prescribed by Nepal Rastra Bank for loan loss provision and amount
determined as per NAS 39 para 63.
i. Trading Assets
The Bank classifies financial assets or financial liabilities as held for trading when they have been
purchased or issued primarily for short term profit making through trading activities or form
part of a portfolio of financial instruments that are managed together for which there is
evidence of a recent pattern of short-term profit taking. Held for trading assets and liabilities are
recorded and measured in the statement of financial position at fair value. Changes in fair value
are recognized in net trading income. Interest and dividend income or expense is recorded in
net trading income according to the terms of the contract, or when the right to payment has
been established. Included in this classification are debt securities, equities, short positions and
customer loans that have been acquired principally for the purpose of selling or repurchasing in
the near term.
j. Property, Plant and Equipment
All Property, plant and equipment is stated at cost less accumulated depreciation and
impairment losses. Cost includes expenditure that is directly attributable to the acquisition of
the assets. Subsequent costs are included in the asset’s carrying amount or are recognized as a
separate asset, as appropriate, only when it is probable that future economic benefits
associated with the item will flow to the bank and the cost of the item can be measured reliably.
k. Goodwill and Intangible assets
Intangible assets include externally generated capitalized software enhancements. Intangible
assets, which have been determined to have a finite useful life, are amortized on a straight-line
basis over their estimated useful life. Intangible assets with finite useful lives are reviewed at
each reporting date to assess whether there is any indication that they are impaired. If any such
indication exists the recoverable amount of the asset is determined and, in the event, that the
asset’s carrying amount is greater than its recoverable amount, it is written down immediately.
l. Investment Property and Noncurrent Assets held for sale
Investment Property
Investment property is the land or building or both held either for rental income or for capital
appreciation or for both, but not sold in ordinary course of business and owner-occupied
property.
Non-Current Assets held for sale
Non-current assets (or disposal groups) are classified as assets held for sale and carried at lower
of carrying amount and fair value less costs to sell if their carrying amount is recovered
principally through a sale transaction rather than through continuing use. The assets are not
depreciated or amortized while they are classified as held for sale. Any impairment loss on initial
classification and subsequent measurement is recognized as an expense. Any subsequent
increase in fair value less costs to sell (not exceeding the accumulated impairment loss that has
been previously recognized) is recognized in the statement of Profit or Loss.
m. Income Tax
Current income tax which is payable on taxable profits is recognized as an expense in the period
in which the profits arise.

Current income tax assets and liabilities for the current period are measured at the amount
expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws
used to compute the amount are those that are enacted, or substantively enacted at the
reporting date in Nepal.

n. Deposit, Debt Securities issued and subordinated liabilities

The estimated fair value of deposits with no stated maturity period is the amount repayable on
demand. The estimated fair value of fixed interest bearing deposits and other borrowings without
quoted market prices is based on discounting cash flows using the prevailing market rates for debts
with a similar credit risk and remaining maturity period.

Debentures are recognized at amortized cost using effective interest rates. The coupon rates of
these instruments represent the effective interest rates.
o. Provisions
Provisions are recognized when the Bank has a present obligation (legal or constructive) as a result
of past events, and it is probable that an outflow of resources embodying economic benefits will be
required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.
When the effect of the time value of money is material, the Bank determines the level of provision
by discounting the expected cash flows at a pre-tax rate reflecting the current rates specific to the
liability. The expense relating to any provision is presented in Statement of Profit or Loss net of
any reimbursement in other operating expenses
p. Revenue Recognition
Revenue is recognized only when it is probable that the economic benefits associated with the
transaction will flow to the entity. In some cases, this may not be probable until the
consideration is received or until an uncertainty is removed.
(i) Interest income
Interest income is recognized in the profit or loss as per accrual basis of accounting and as per NRB
Circular No. 1 of F/Y 2076-77- Interest Income Recognition.
(ii) Fees and Commission
Fees and commission income including management fee, service charges, and syndication fee and
forex transaction commission are recognized as the related services are performed.
(iii) Dividend Income
Dividend on investment in resident company is recognized when the right to receive payment is
established. Dividend income are presented in net trading income, net income from other
financial instruments at fair value through profit or loss or other revenue based on the
underlying classification of the equity instruments.
(iv) Net trading income
Gain and losses arising in changes in fair value of financial instrument held at fair value through
profit or loss are included in Statement of Profit or Loss in the period in which they arise.
(v) Interest Expenses
Interest expense on all financial liabilities including deposits are recognized in profit or loss using
effective interest rate method. Interest expense on all trading liabilities are considered to be
incidental to the Bank’s trading operations and are presented together with all other changes in
fair value of trading assets and liabilities in net trading income.

(vi) Employees Benefits

Short-term employee benefits, such as salaries, paid absences, performance-based cash awards
and social security costs are recognized over the period in which the employees provide the
related services.
(vii) Foreign Currency Translation
The interim financial statements are presented in Nepalese Rupees, which is the Company’s
functional and presentation currency.

q. Share Capital and Reserve

The Bank applies NAS 32, Financial Instruments: Presentation, to determine whether funding is
either a financial liability (debt) or equity. Issued financial instruments or their components are
classified as liabilities if the contractual arrangement results in the bank having a present obligation
to either deliver cash or another financial asset, or a variable number of equity shares, to the holder
of the instrument.
 6. Segmental Information
A. Information about reportable segments (Rs. in ‘000)

Sudurpashchim Total
Particulars Koshi Province Madhesh Province Bagmati Province Gandaki Province Lumbini Province Karnali Province Province

Correspondin

Correspondin

Correspondin

Correspondin

Correspondin

Correspondin

Correspondin

Correspondin
Quarter

Quarter

Year Quarter

Quarter

Quarter

Quarter

Quarter

Quarter

Quarter
Year Quarter

Year Quarter

Year Quarter

Year Quarter

Year Quarter

Year Quarter

Year Quarter
Current

Current

Current

Current

Current

Current

Current

Current
g Previous

g Previous

g Previous

g Previous

g Previous

g Previous

g Previous

g Previous
Revenues 2,272,758 1,985,628 1,444,283 1,552,963 16,548,757 16,045,763 1,054,667 1,120,252 2,114,285 2,157,617 198,384 221,638 791,819 941,243 24,424,953 24,025,105
from external
Customers
Intersegment 72,988 73,799 442,414 491,776 11,614,895 11,334,248 141,840 115,938 208,587 166,724 4,691 104 44,386 49,300 12,529,801 12,231,889
Revenue
Gross 2,345,746 2,059,427 1,886,697 2,044,739 28,163,652 27,380,011 1,196,507 1,236,190 2,322,872 2,324,341 203,075 221,742 836,205 990,543 36,954,754 36,256,994
Revenue
Interest 2,102,894 1,844,736 1,329,862 1,452,032 15,132,659 11,846,391 985,050 1,060,090 1,934,831 2,007,300 171,537 210,114 738,926 893,224 22,395,760 19,313,887
Revenue
Interest 694,666 756,444 792,739 842,585 11,455,725 11,282,102 586,551 623,927 1,006,724 1,077,194 67,513 78,312 293,012 327,607 14,896,931 14,988,171
Expenses
Net Interest 1,408,229 1,088,292 537,123 609,447 3,676,934 564,288 398,500 436,163 928,106 930,106 104,024 131,802 445,913 565,618 7,498,829 4,325,716
Revenue
Depreciation 16,778 17,836 14,719 13,330 99,057 225,612 14,423 15,024 30,219 26,708 1,782 1,348 6,717 9,616 183,695 309,475
&
Amortization
Segment 647,773 570,781 619,123 712,990 3,045,988 2,852,376 288,955 250,966 702,415 631,113 88,072 86,400 212,810 247,871 5,605,135 5,352,496
Profit/(Loss)
impairment of 12,709 83,162 (3,412) 82,254 (264,924) 350,792 1,596 37,528 (130,781) 141,486 (1,775) 101 31,806 40,118 (354,782) 735,441
assets
Segment 27,353,284 20,669,490 17,382,346 16,165,646 199,168,934 167,029,149 12,693,215 11,661,315 25,446,010 22,459,819 2,387,602 2,307,154 9,529,767 9,797,920 293,961,158 250,090,493
assets
Segment 24,768,415 18,572,572 15,739,725 14,525,642 180,347,587 150,084,049 11,493,714 10,478,275 23,041,377 20,181,272 2,161,975 2,073,093 8,629,209 8,803,921 266,182,002 224,718,823
Liabilities
 B. Reconciliation of reportable segment profit or loss

a) Revenue Rs. In '000

Current Quarter Corresponding
Previous Year
Quarter
Total revenues for reportable segments 36,954,754 36,256,994
Other revenues - -
Elimination of intersegment revenues (12,529,801) (12,231,889)
Entity’s revenues 24,424,953 24,025,105

b) Profit or loss Rs. In '000

Current Quarter Corresponding
Previous Year
Quarter
Total profit or loss for reportable 5,605,135 5,352,496
segments
Other profit or loss 617,887 (1,286)
Elimination of intersegment profits
Unallocated amounts:
Bonus expenses (621,958) (534,925)
Other adjustments
Profit before income tax 5,601,064 4,816,285

7. Related party disclosure

Entity with significant influence over the bank
Followings have been identified as related parties for Everest Bank Limited under NAS 24
Related parties:
Entity with significant influence over the bank
Followings have been identified as related parties for Everest Bank Limited under NAS 24 Related
parties:
1) Punjab National Bank Limited – this is the joint-venture partner of the investors who established
the bank
2) Key Management Personnel of the Bank – Bank is managed by two expatriates from PNB group
under a technical service agreement and three higher level domestic employee of the bank
including CEO to oversee the management of the bank’s functioning.
3) Units and companies under PNB Group
4) Directors of the Bank
5) Relatives of directors and key management personnel
6) Forward Community Microfinance Limited
7) Nirdhan Utthan Bank Ltd.
8) EBL Employee Retirement Fund
 Rs. In ‘000
Particulars 31 Ashadh, 2081 31 Ashadh, 2080
Directors:
Director's Sitting Fees 2,030 1,530
Interest Paid to directors on deposits 104,951 205,122
Key Management Personnel
(KMP):
Remuneration and benefits paid 73,665 35,908
Interest on account balances 4,070 1,545
PNB Group
TSA Paid 11,390 11,390
Cash Dividend 225,582 76,954
Bonus Share Paid (No of Share.) 2,142,484 2,464,574

Rs. In ‘000

Nature of
Transactions 31 Ashadh, 2081 31 Ashadh, 2080 relationship
Deposit 177,476 2,557,322 Director
Deposit 34,983 24,245 KMP
Loan 32,025 11,333 KMP

8. Issues, repurchases and repayments of debt and equity securities

None

9. Events after interim period

There are no material events after reporting date affecting financial status of the Bank as on Ashadh
End, 2081.

10. Effect of changes in the composition of the entity during the interim period including merger
and acquisition
There is no any merger or acquisition effecting the changes in the composition of the entity during
the interim period as on Ashadh End, 2081.