The Himalayan Bank Limited, a Nepal-Pakistan joint venture, has announced that profits in fiscal 1999/2000 were up 20 percent compared to the previous year's take. Profits reached Rs 199.3 million, up from Rs 165.2 million in fiscal 1998/99. The bank has also announced an interim dividend to shareholders, to be reconciled with the profits expected in the current fiscal year. The bank's deposits in the first six months of this fiscal year reached Rs 19.1 billion and investments, Rs 9.7 billion. The Himalayan Bank, which began operations in January 1993, now has nine branches and one contact office. It also plans to venture into development banking.