Laxmi Bank opens its 5th Extension Counter in Rajbiraj District Court
Kathmandu : Laxmi Bank Ltd. inaugurated its 5th Extension Counter in the District Court of Rajbiraj today. The new extension counter will offer full range of retail banking services including small businesses. With the new addition, Laxmi Bank network, now, includes 121 Branches, 5 Extension Counters, 4 Hospital Counters, 151 ATMs, 2500 remittance agents, and 61 Branchless Banking Agents spread across 48 districts in the country.
The bank is rapidly expanding to new and underserved markets with the aim of providing quality services to fulfil 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 also actively promotes digital channels such as Internet and Mobile banking to complement the growing number of branches as a part of the “Bricks and Clicks” strategy, allowing customers to reach us through the channel of their choice: Branches, ATMs, Internet or Mobile Banking.
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 67 branches with loans of over NPR 3 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 Value Fund – 1 and Laxmi Equity Fund, 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 2018/19 with a balance sheet size of NPR 102 billion that includes deposits and risk assets of NPR 86.87 billion and NPR 78.46 billion respectively. All key financial indicators of the Bank are well within prudential and regulatory norms.