Laxmi Bank expands with 103rd Branch at Tinpaini of Biratnagar

Laxmi Bank has inaugurated its 103rd branch in Tinpaini, Biratnagar. In the provincial set up, the branch belongs to province number 1. With this new addition the total count of branches in province 1 is now 19.

The new branch will offer full range of retail banking services customized to meet the needs of individuals and small businesses.  

With the above new addition Laxmi Bank network now includes 103 branches across 46 districts, 5 hospital service counters, 125 ATMs, 2,500 remittance agents and 58 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, 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 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 – LaxmiLaghubitta, a category D financial institution licensed by Nepal Rastra Bank is in operation since 2012 and has a network of 66 branches with loans of over NPR 3 billion.

Similarly, Laxmi Bank’s investment banking subsidiary – Laxmi Capital, licensed by the Securities Board of Nepalis 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 2017/18 with a balance sheet size of NPR  81 billion that includes deposits and risk assets of NPR  67.74 billion and NPR 62  billion respectively. All key financial indicators of the Bank are well within prudential and regulatory norms.