Laxmi Bank Limited

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Laxmi Bank Limited
Type Private
Industry Banking
Founded 2002
Headquarters Laxmi Bank Limited
Hattisar , Kathmandu
Area served Nepal
Key people Sudesh Khaling (CEO)
Products Banking
Employees 350 Plus
Website www.laxmibank.com

Laxmi Bank was incorporated in April 2002 as the 16th commercial bank in Nepal.

In 2004 Laxmi Bank merged with HISEF Finance Limited, a first generation finance company. This is the first merger in the Nepali corporate history.

Laxmi Bank is a Category ‘A’ Financial Institution and re-registered in 2006 under the Banks and Financial Institutions Act of Nepal. The Bank’s shares are listed and actively traded in the Nepal Stock Exchange.

The bank is primarily recognized for its stringent credit policies, conservative approach to banking and pioneers in technological innovations in the banking services.

Ownership structure[edit]

The Bank currently has a paid up capital of Nepalese Rupees 1.61 Billion. In 2009 the Bank distributed dividends for the first time through 20% bonus shares.

  • Promoter Group - 55.42%
  • Citizen Investment Trust - 9.02%
  • General Public - 35.56% (more than 10,000 shareholders)

Bank Network[edit]

The bank has its branch network spread across following locations. The bank's foothold in the Eastern Regions of the country is seen significant in terms of both its bank branch network and Agency Network for Remittance (Domestic Agency Network or International Agency Network) services.

Locations Within Kathmandu Valley

Locations outside Kathmandu Valley

Subsidiaries[edit]

The bank's major subsidiaries are as follows:

  • Prime Life Insurance (15% Shares)
  • Laxmi Capital Market Limited (70% Shares)
  • Laxmi Cares a Not for Profit organization established and run by the employees of Laxmi Bank
  • Laxmi Bank Retirement Funds
  • Laxmi Laghubitta Bittiya Sanstha (100% Share)

References[edit]

Laxmi Bank Limited [1] Nepal Rastra Bank [2] and “Laxmi Bank – eXpress Money Transfer” (eMT) [3] Bank and Financial Institution Act [4] Prime Life Insurance [5]

External links[edit]