Laxmi Bank expands with 2 new extension counters in Madhesh Pradesh

KATHMANDU

Laxmi Bank inaugurates its 12th and 13th extension counters in Mahottari District Court and Siraha District Court on April 19th and 20th respectively. Its 12th extension counter is located within the premises of Mahottari District Court in Jaleshwor-2 of Mahottari district whereas the 13th extension counter is within Siraha District Court premises Siraha-2 of Siraha district.

With the addition of these extension counters, Laxmi Bank network now includes 142 branches across 50 districts, 5 hospital service counters, 13 extension counters, 176 ATMs, over 2500 remittance agents and 63 branchless banking agents 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 2020/21 with a balance sheet size of NPR 152 billion that includes deposits and risk assets of NPR  117 billion and NPR 108 billion respectively. All key financial indicators of the Bank are well within prudential and regulatory norms.

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