Kathmandu, Feb 24. Laxmi Bank inaugurated its 127th Branch in Sarpallo rural municipality of Mahottari district. This branch will offer full range of retail banking services including small businesses. With the above new addition, Laxmi Bank network now includes to 127 branches across 48 districts, 5 hospital service counters, 6 extension counters, 156 ATMs, 2,500 remittance agents and 61 branchless 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, 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 reach 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, midmarket, corporate, infrastructure 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.
Laxmi Bank’s microfinance subsidiary – Laxmi Laghubitta Bittiya Sanstha Ltd, a category D financial institution licensed by Nepal Rastra Bank is in operation since 2012 and has a network of 72 branches with loans of over NPR 4 billion.
Similarly, Laxmi Bank’s investment banking subsidiary – Laxmi Capital Market Ltd, licensed by the Securities Board of Nepali’s offering various merchant and investment banking services since February 2009. Laxmi Capital also manages Laxmi Equity Fund and Laxmi Unnati Kosh, the two Mutual Funds sponsored by Laxmi Bank, both of which are listed and traded at the Nepal Stock Exchange.
The Bank closed the previous financial year 2019/20 with a balance sheet size of NPR 129 billion that includes deposits and risk assets of NPR 100.07 billion and NPR 89.89 billion respectively. All key financial indicators of the Bank are well within prudential and regulatory norms.