Everest Bank has been awarded Bank of the Year-2006, Nepal by The Banker, a publication of the British Financial Times. The award is given out on the basis of commendable performance, recording consistent business growth, improved asset quality, good governance, and returns to shareholders. Over the last financial year, the bank's disposable net profit increased 39 percent to Rs 237.3 million. Laxmi also saw a 36 percent increase in deposits, a 28 percent increase in advances, and a 21 percent rise in operating profits to Rs 453.1 million from Rs 375.1 million in the previous year. The bank also reports among the lowest non-performing assets of all commercial banks in Nepal. Everest Bank has 18 branches with plans for two more, and its own online remittance service.