Kathmandu, May 14 . Laxmi Bank has inaugurated its two new branches in Rural Municipality in Manara, Mahotari and Khadadevi, Ramechap. These new branches will offer full range of retail banking services customized to meet the needs of individuals and small businesses.
With this, Laxmi Bank network now includes 42 district, 82 branches, 3 hospital service counters, 101 ATMs, more than 2500 remittance, 51 branchless banking and 400+ mobile banking agents spread across the country. The Bank is rapidly expanding to newer and underserved markets with the aim of servicing the growing demand for professional financial services such as innovative saving accounts, term deposits, home and auto loans, small business loans, microfinance, insurance etc.
The Bank actively promotes digital channels such as internet and mobile banking to complement the growing number of branches as part of the ‘bricks and clicks’ strategy allowing customers to touch us through a channel of their choice: branches, ATM, internet and mobile phones.
About Laxmi Bank
Laxmi Bank was established in 2002. Today, through its branches and a host of IT enabled channels, the Bank serves a wide range of customers. Despite a relatively short history, Laxmi Bank has emerged as a major player across all business lines – retail, mid market, corporate and treasury.
The Bank is widely recognized as one of the best-managed banks in Nepal with high standards of corporate governance culture, risk-management systems and a strong technology.
Complementing this ‘brick and mortar’ network, Laxmi Bank has championed the use of electronic banking in Nepal. The Bank introduced the first complete internet banking services in the country in 2002 and Mobile Money in 2009.
The Bank closed the previous financial year 2016/17 with a balance sheet size of NPR 70.90 billion that includes deposits and risk assets of NPR 59.32 billion and NPR 52.73 billion respectively. The Bank posted a net profit of NPR 1 billion during the period, a growth of 48% over the last year. All key financial indicators of the Bank are well within prudential and regulatory norms
Laxmi Bank is a green company. The Bank is in a position to offer green friendly banking products and channels by leveraging on technologies such as internet, cards and mobile phones.
Laxmi Bank’s investment banking subsidiary – Laxmi Capital Market Limited has been in operation since February 2009. A second subsidiary – Laxmi Laghubitta Bittiya Sanstha Limited, commenced operations in June 2012 and currently serves over 55,000 microfinance clients through its 51 branches.
Laxmi Bank through Laxmi Capital recently floated its second mutual fund, Laxmi Equity Fund which was subscribed 1.8 times the offering.