PNB's JV partner launches 20th branch in Nepal

New Delhi, Mar 10 (UNI) Nepal's Everest Bank Ltd (EBL), in which public sector Punjab National Bank (PNB) has an equity stake, today opened its 20th branch in Kathmandu.

Mr S C Gupta, Chairman and Managing Director, PNB, inaugurated the branch, which makes EBL the largest network among the private sector commercial banks in Nepal.

With India Remit, the Everest Bank has same day remittance facility with India in association with PNB's 2,200 networked branches at 550 locations, besides draft drawing arrangement with 219 PNB branches across India.

PNB joined hands with the Nepal bank in a joint venture in 1996 and provides the latter top management support under the technical service agreement.

UNI