Everest Bank Ltd

Unaudited Financial Result

3rd Quarter Ending F/Y 2079/80

Unaudited Condensed Statement of Financial Position

As on Quarter Ended 30 Chaitra 2079
Fig in ‘000
Assets This Quarter Ending Immediate Previous
year Ending

Cash and cash equivalent 11,438,096 14,024,364

Due from Nepal Rastra Bank 7,564,543 11,105,032
Placement with Bank and Financial Institutions 3,933,000 2,875,500
Derivative financial instruments - 15,767
Other trading assets - -
Loan and advances to B/FIs 8,000,878 9,573,311
Loans and advances to customers 160,897,118 145,480,529
Investment securities 38,977,366 35,674,337
Current tax assets 642,489 548,665
Investment in subsidiaries - -
Investment in associates 713,660 713,660
Investment property 2,203 2,203
Property and equipment 3,533,160 3,635,568
Goodwill and Intangible assets 37,382 23,076
Deferred tax assets 111,957 111,957
Other assets 2,045,347 1,597,354
Total Assets 237,897,198 225,381,323
Liabilities
Due to Bank and Financial Institutions 1,969,697 733,073
Due to Nepal Rastra Bank 23,500 2,919,259
Derivative financial instruments 35,293 -
Deposits from customers 186,158,814 172,739,185
Borrowing 2,622,000 2,556,000
Current Tax Liabilities - -
Provisions - -
Deferred tax liabilities - -
Other liabilities 18,852,685 22,313,625
Debt securities issued 4,072,458 1,325,628
Subordinated Liabilities - -
Total liabilities 213,734,447 202,586,770
Equity
Share capital 10,698,094 9,467,340
Share premium 238,470 238,470
Retained earnings 3,363,358 3,877,116
Reserves 9,862,829 9,211,626
Total equity attributable to equity holders 24,162,751 22,794,553
Non-controlling interest
Total equity 24,162,751 22,794,553
Total liabilities and equity 237,897,198 225,381,323
 Unaudited Condensed Statement of Profit or Loss
For the Quarter Ended 30 Chaitra 2079

Fig in NPR.'000
Bank
Particulars Current Year
Corresponding
This Upto This This Upto This
Quarter Quarter (YTD) Quarter Quarter (YTD)
Interest income 5,722,667 16,492,620 4,114,371 10,502,596
Interest expense 3,805,664 10,905,372 2,735,663 6,996,926
Net interest income 1,917,003 5,587,248 1,378,708 3,505,670
Fee and commission income 315,505 928,592 287,930 891,246
Fee and commission expense 47,898 179,985 56,443 193,065
Net fee and commission income 267,607 748,607 231,487 698,180
Net interest, fee and commission income 2,184,610 6,335,855 1,610,194 4,203,851
Net trading income 44,604 118,647 61,693 254,447
Other operating income 11,806 45,476 86,452 210,869
Total operating income 2,241,021 6,499,978 1,758,340 4,669,167
Impairment charge/(reversal) for loans and 184,867 551,499 6,287 413,989
other losses
Net operating income 2,056,153 5,948,479 1,752,053 4,255,177
Operating expense
Personnel expenses 527,489 1,639,333 463,058 1,330,595
Other operating expenses 229,642 652,076 268,314 622,516
Depreciation & Amortisation 44,613 134,183 52,870 135,275
Operating Profit 1,254,409 3,522,886 967,811 2,166,791
Non operating income - 229 - -
Non operating expense 36 167 91 614
Profit before income tax 1,254,373 3,522,949 967,720 2,166,177
Income tax expense
Current Tax 376,312 1,056,885 290,316 649,853
Deferred Tax - - - -
Profit for the period 878,061 2,466,064 677,404 1,516,324
Condensed Statement of Comprehensive Income
Profit/(Loss) for the period 878,061 2,466,064 677,404 1,516,324
Other Comprehensive Income (399,828) (370,376) (137,760) (484,185)
Total Comprehensive Income 478,233 2,095,688 539,644 1,032,139
Earnings per share
Basic earnings per share 30.74 21.45
Diluted earnings per share 30.74 21.36
Profit attributable to:
Equity holders of the Bank 878,061 2,466,064 677,404 1,516,324
Non-controlling interest - - - -
Profit for the period 878,061 2,466,064 677,404 1,516,324
Unaudited Statement of Comprehensive Income
For the Quarter Ending 30 Chaitra, 2079

Previous Year
Corresponding
Note Upto This Upto This
This
Quarter Quarter
Quarter
(YTD) (YTD)
Profit for the year 1,588,003 260,048 838,920
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 29,452 52,858 (293,567)
Gains/(losses) on revaluation
Actuarial gains/(loss) on defined benefit plans - - -
Income tax relating to above items
Net other comprehensive income that will not be reclassified to profit or loss 29,452 52,858 (293,567)
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 - - -
c) Share of other comprehensive income of associate accounted as per equited method - - -
Other comprehensive income for the year, net of income tax - -
Total comprehensive income for the period 1,617,455 312,906 545,353

Total comprehensive income attributable to: 1,617,455 312,906 545,353

Equity holders of the Bank - - -
Non-controlling interest 1,617,455 312,906 545,353
Total comprehensive income for the period
Basic earnings per share 29.69 17.80
Annualized Basic Earnings per share 29.69 17.80
Diluted Earnings per Share 29.69 17.72
 Unaudited Condensed Statement of changes in equity
For the Quarter Ended 30 Chaitra 2079

Fig in NPR.
Non-
Total
Attributable to equity holders of the Bank controlling
equity
interest

Capital

Total
earning
Share

Share

Fair value

n Reserve

Revaluation

Other
Exchange
equalisation

Debenture
General

Retained
premium

reserve

reserve

reserve

reserve

Reserve

reserve
Regulatory

Redemptio
Balance at Shawan 1, 2078 8,933,717 238,470 4,683,618 38,060 942,127 1,425,444 421,965 971,431 2,364,208 664,565 20,683,605 - 20,683,605
Comprehensive income for the Period
Profit for the period 1,516,324 1,516,324 1,516,324
Other comprehensive income, net of tax - -
Total comprehensive income for the period - - - - - (484,185) - - 1,516,324 - 1,032,139 1,032,139
Contributions from and distributions to
owners 42,832 - (591,544.51) 548,713 - -
Right share issued (Calls in Advance) - -
Right share issued - -
Share based payments - -
Dividends to equity holders - -
Bonus shares issued 533,623 (533,623) - -
Cash dividend paid - -
Dividends to shareholders (ordinary) (384,209) (384,209) (384,209)
Dividends to shareholders
(preference) - - -
Total contributions by and distributions 533,623 - - - - - - - (917,832) - (384,209) - (384,209)
Balance at Chaitra End 2078 9,467,340 238,470 4,726,450 38,060 942,127 349,715 421,965 971,431 3,511,413 664,565 21,331,536 - 21,331,536
Balance at Shawan 1, 2079 9,467,340 238,470 5,335,919 51,738 1,018,468 681,954 468,845 971,431 3,877,116 683,271 22,794,553 - 22,794,553
Comprehensive income for the period
Profit for the period 2,466,064 2,466,064 2,466,064
Other comprehensive income, net of tax - -
Total comprehensive income for the period - - - - - (370,376) - - 2,466,064 - 2,095,688 2,095,688
Contributions from and distributions to
owners 493,213 502,492 - (1,021,578) 25,874 0 0
Share issues - -
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 Chaitra End 2079 10,698,094 238,470 5,829,132 51,738 1,520,959 311,578 468,845 971,431 3,363,358 709,145 24,162,751 - 24,162,751
Ratios as per NRB Directive

Current Year Previous Year

Corresponding
Upto
Upto This
This This This
Quarter
Quarter Quarter Quarter
(YTD)
Particulars (YTD)
Capital Fund to RWA 12.22% 12.25%
Non-Performing Loan (NPL) to Total Loan 0.70% 0.26%
Total Loan Loss Provision to Total NPL 250.30% 618.10%
Cost of Funds 8.09% 6.82%
Credit to Deposit Ratio 86.82% 91.78%
Base Rate 9.94% 8.36%
Interest Rate Spread 4.20% 3.55%
Market Share Price (in Rs.) 508.00 519.00
Return on Total Assets (Annualized in %) 1.47% 0.99%
Return on Equity (Annualized in %) 13.61% 9.50%
Net Worth Per share (in Rs.) 225.86 226.27
Total Assets Per Share 2,088.42 2,164.36
 Statement Of Distributable Profit or Loss
For the Quarter end of Chaitra 2079
(As per NRB Regulation)
Bank
Current Year Previous Year
Net profit or (loss) as per statement of profit or loss 2,466,064 1,516,324
Appropriarions:
a. General reserve 493,213 303,265
b. Foreign exchange fluctuation fund
c. Capital redemption reserve 35,163
d. Corporate social responsibility fund 15,763 10,857
e. Employees' training fund 10,111 10,764
f. Other (548,713)
Profit or (loss) before regulatory adjustment 1,946,978 1,704,988
Regulatory Adjustment :
a. Interest receivable (-)/previous accrued interest received (+) (502,492) (322,295)
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 (-)/resersal (+) - 18,837
e. Deferred tax assets recognised (-)/ reversal (+) - 10,507
f. Goodwill recognised (-)/ impairment of Goodwill (+) - -
g. Bargain purchase gain recognised (-)/resersal (+) - -
h. Acturial loss recognised (-)/reversal (+) - 13,054
i. Other - (75,300)
Net profit for the Quarter end Chaitra 2079Available for distribution 1,444,486 1,349,792
Opening Retained Earning as on Shrawan 1 2079 3,877,116 2,364,208
Adjustment (+/-)
Distribution:
Bonus Shares Issued (1,230,754) (533,623)
Cash Dividend Issued (727,490) (384,209)
Total Distributable profit or (loss) as on Quarter end Chaitra 2079 3,363,358 2,796,168
Annualized Distributable Profit/Loss per Share 41.92 39.55
 Unaudited Condensed Statement of Cash Flows
For the Quarter Ended 30 Chaitra 2079 Rs. In ‘000
Corresponding
Upto This Previous Year
Quarter Upto this
Quarter
CASH FLOWS FROM OPERATING ACTIVITIES
Interest received 13,626,513 8,681,612
Fees and other income received 928,592 891,246
Dividend received - -
Receipts from other operating activities 169,707 276,017
Interest paid (10,277,870) (6,717,282)
Commission and fees paid (179,985) (193,065)
Cash payment to employees (1,517,123) (1,275,789)
Other expense paid (652,243) (675,764)
Operating cash flows before changes in operating assets and liabilities 2,097,592 986,975
(Increase)/Decrease in operating assets
Due from Nepal Rastra Bank 3,540,489 22,869,918
Placement with bank and financial institutions (1,057,500) 1,413,000
Other trading assets - -
Loan and advances to bank and financial institutions 1,593,144 (2,522,816)
Loans and advances to customers (15,192,168) (15,468,165)
Other assets 64,455 (281,286)
Increase/(Decrease) in operating liabilities
Due to bank and financial institutions 1,236,623 528,272
Due to Nepal Rastra Bank (2,895,759) 1,768,276
Deposit from customers 13,419,630 1,576,178
Borrowings 66,000 -
Other liabilities (3,666,825) (7,201,257)
Net cash flow from operating activities before tax paid (794,319) 3,669,095
Income taxes paid (1,150,709) (671,405)
Net cash flow from operating activities (1,945,028) 2,997,690
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of investment securities (3,673,404) (3,787,727)
Receipts from sale of investment securities - 629,108
Purchase of property and equipment (40,766) (105,461)
Receipt from the sale of property and equipment - -
Purchase of intangible assets - -
Receipt from the sale of intangible assets - -
Purchase of investment properties - -
Receipt from the sale of investment properties - -
Interest received 1,557,027 1,092,607
Dividend received 2,148 1,323
Net cash used in investing activities (2,154,995) (2,170,150)
CASH FLOWS FROM FINANCING ACTIVITIES
Receipt from issue of debt securities 2,746,830 -
Repayment of debt securities - -
Receipt from issue of subordinated liabilities - -
Repayment of subordinated liabilities - -
Receipt from issue of shares - -
Dividends paid (718,802) (382,510)
Interest paid (552,516) (280,528)
Other receipt/payment - -
Net cash from financing activities 1,475,512 (663,038)
Net increase (decrease) in cash and cash equivalents (2,624,511) 164,502
Cash and cash equivalents at Shawan 1, 2079 14,024,364 9,163,408
Effect of exchange rate fluctuations on cash and cash equivalents held 38,243 55,439
Cash and cash equivalents at Chaitra End 2079 11,438,096 9,383,349
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
Particulars Koshi Province Madhesh Province Bagmati Province Gandaki Province Lumbini Province Karnali Province Province Total

Quarter
Quarter

Quarter

Quarter

Quarter

Quarter

Quarter

Quarter

Quarter

Quarter

Quarter

Quarter

Quarter

Quarter

Quarter

Quarter
Current

Current

Current

Current

Current

Current

Current

Current
Corresponding

Corresponding

Corresponding

Corresponding

Corresponding

Corresponding

Corresponding

Corresponding
Previous Year

Previous Year

Previous Year

Previous Year

Previous Year

Previous Year

Previous Year

Previous Year
Revenues
from external
Customers 1,424,354 894,782 1,100,264 731,510 11,438,277 8,141,757 797,853 544,460 1,541,112 970,362 156,305 111,428 680,693 464,858 17,138,858 11,859,158
Intersegment
Revenue 52,238 19,253 379,353 142,594 8,356,787 6,212,658 75,876 45,098 113,888 38,120 3 - 33,479 12,138 9,011,624 6,469,861
Gross
Revenue 1,476,592 914,035 1,479,617 874,104 19,795,064 14,354,415 873,729 589,558 1,655,000 1,008,482 156,308 111,428 714,172 476,996 26,150,482 18,329,019
Interest
Revenue 1,323,419 805,499 1,028,012 643,676 8,576,575 7,161,106 753,888 498,757 1,433,428 864,447 147,632 101,814 644,822 427,297 13,907,776 10,502,596
Interest
Expenses 545,901 335,018 618,505 391,248 8,196,684 5,352,266 448,245 274,194 782,417 459,684 58,281 36,534 240,216 147,982 10,890,249 6,996,926
Net Interest
Revenue 777,517 470,481 409,507 252,428 379,892 1,808,841 305,643 224,562 651,011 404,764 89,351 65,280 404,606 279,315 3,017,527 3,505,670
Depreciation
&
Amortization 11,170 14,317 7,774 10,070 81,702 74,241 8,726 9,671 17,004 18,285 927 1,426 6,881 7,266 134,183 135,275
Segment
Profit/(Loss) 389,769 193,608 497,132 192,498 2,241,486 1,338,640 152,586 90,840 415,517 152,919 52,450 8,273 165,448 57,289 3,914,388 2,034,068
impairment of
assets 66,006 39,408 73,109 27,474 198,728 288,042 32,754 9,725 122,261 20,068 10,536 1,203 48,106 21,782 551,499 407,703
Segment
assets 19,770,845 15,764,984 15,272,302 12,888,319 158,769,854 143,447,976 11,074,653 9,592,728 21,391,521 17,096,608 2,169,608 1,963,234 9,448,415 8,190,246 237,897,198 208,944,095
Segment
Liabilities 17,762,759 14,155,504 13,721,125 11,572,524 142,643,912 128,803,075 9,949,822 8,613,387 19,218,826 15,351,180 1,949,245 1,762,803 8,488,758 7,354,087 213,734,447 187,612,559
 B. Reconciliation of reportable segment profit or loss

Reconciliations of reportable segment revenues, profit or loss, assets and liabilities

a) Revenue Rs. In '000
Current Quarter Corresponding
Previous Year
Quarter
Total revenues for reportable segments 26,150,482 18,329,019
Other revenues - -
Elimination of intersegment revenues (9,011,624) (6,469,861)
Entity’s revenues 17,138,858 11,859,158

b) Profit or loss Rs. In '000

Current Quarter Corresponding
Previous Year
Quarter
Total profit or loss for reportable segments 3,914,388 2,034,068
Other profit or loss
Elimination of intersegment profits
Unallocated amounts:
Bonus expenses (391,439) (240,686)
Other adjustments 372,796
Profit before income tax 3,522,949 2,166,178

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 30th Chaitra, 2079 30th Chaitra, 2078
Directors:
Director's Sitting Fees 975.00 990.00
Interest Paid to directors on deposits 206,852.31 140,859.00
Key Management Personnel (KMP):
Remuneration and benefits paid 40,947.01 26,956.00
Interest on account balances 1,669.13 1,233.00
PNB Group
TSA Paid 10,080 10,080
Cash Dividend 146,319 76,954
Bonus Share Paid (No of Share.) 2,464,574 1,068,805

Rs. In ‘000
Transactions 30 Chaitra, 2079 30 Chaitra, 2078 Nature of relationship
Deposit 2,691,319.78 2,486,964.00 Director
Deposit 24,361.85 23,302.00 KMP
Loan 11,588.45 8,335.00 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 Chaitra End, 2079.

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 Chaitra End, 2079.