Laxmi Bank inaugurates 86th branch in Jeetpur, Bara
Laxmi Bank has inaugurated its new branch at Jeetpur in Bara district. This branch will offer full range of retail banking services customized to meet the financial needs of individuals along with small and micro entrepreneurs, in particular involved with the agriculture sector. Laxmi Bank now has two branches in Bara district – Jeetpur and Kalaiya.
The Laxmi Bank network consists of 86 branches and 3 hospital service counters across 43 districts, 104 ATMs, 2,500 remittance agents and 51 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 touch 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, a category D financial institution licensed by Nepal Rastra Bank is in operation since 2012 and has a network of 59 branches with loans of over NPR 2.6 billion.
Similarly, Laxmi Bank’s investment banking subsidiary – Laxmi Capital, licensed by the Securities Board of Nepal is offering various merchant and investment banking services since February 2009. Laxmi Capital also manages Laxmi 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 2016/17 with a balance sheet size of NPR 70.90 billion that includes deposits and risk assets of NPR 59.32 billion and NPR 52.73 billion respectively. The Bank posted a net profit of NPR 1 billion during the period, a growth of 48% over the last year. All key financial indicators of the Bank are well within prudential and regulatory norms.
