Laxmi Bank enters 13th year of business

ShareSansar, April 1:

Laxmi Bank has entered in its 13th year of operations. The bank, which was established in 2002 as a regional bank in Birgunj, upgraded into a national level bank in 2005.

The bank currently has a balance sheet of Rs 39 billion and plans to increase its paid-up capital to Rs 5 billion. As per the press release issued by the bank, all key financial indicators are well within “prudential” and regulatory norms as at the end of the second quarter of the current financial year.

Laxmi Bank owns 2 subsidiaries, Laxmi Laghubitta Bittiya Sansthan, a licensed microfinance institution and Laxmi Capital Market Limited.

Laxmi Laghubitta issued its Initial Public Offering in 2015 and its shares are already listed in the Nepal Stock Exchange. Laxmi Bank’s first mutual fund–Laxmi Value Fund-1--was offered in 2015 and received overwhelming response from the market.