This article includes a list of general references, but it lacks sufficient corresponding inline citations. (November 2017) |
Laxmi Bank is the 16th commercial bank in Nepal, founded in 2002.[3]
| Company type | Public |
|---|---|
| NEPSE: 141 | |
| Industry | Banking |
| Founded | April 2002 |
| Headquarters | Laxmi Sunrise Bank Limited Hattisar, Kathmandu |
Number of locations | 265 Branches[1] |
Area served | Nepal |
Key people | Mr. Raman Nepal (chairman) Mr.Ajaya Bikram Shah (CEO) |
| Products | consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, savings, Securities, asset management, wealth management, Credit cards, |
Number of employees | 2000+ [2] |
| Subsidiaries | Laxmi Capital Market Limited |
| Website | www.laxmisunrise.com |
History
editIn 2004 Laxmi Bank merged with HISEF Finance Limited, a first-generation finance company. This is the first merger in Nepali corporate history.[4] In 2016, the Bank also acquired Professional Diyalo Bikas Bank, a regional development Bank.[5]
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.[6]
The bank also promoted a life insurance company known as Prime Life Insurance in 2007[7] and holds 15% shareholding stake in it.[8]
The bank is primarily recognized for its stringent credit policies, conservative approach to banking and pioneers in technological innovations in banking services. 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.
Ownership structure
editThe Bank currently has a paid-up capital of Nepalese Rupees 9.81 Billion (as of FY 2018-19) [9]
- Promoter Group - 51.05%
- General Public - 48.95%
Subsidiaries
editThe bank's subsidiaries are as follows:
References
editLaxmi Bank Limited [13] Nepal Rastra Bank [14] and “Laxmi Bank – eXpress Money Transfer” (eMT) [15] Bank and Financial Institution Act [16] Prime Life Insurance [17]
- ^ Annual report of Laxmi Bank (PDF) (Report). 30 November 2022.
- ^ Annual report of Laxmi Bank (PDF) (Report). 30 November 2022.
- ^ Bank, Laxmi. "Overview". Retrieved 31 Dec 2020.
- ^ "Laxmi Bank". Retrieved 31 Dec 2020.
- ^ "Laxmi Bank to Acquire Professional Diyalo Bikas Bank". New Business Age. Retrieved 31 Dec 2020.
- ^ "Laxmi bank limited". Retrieved 31 Dec 2020.
- ^ "LPrime Life Insurance: A Decade in the Making". New Business Age. Retrieved 31 Dec 2020.
- ^ University, Kathmandu. "Senate Members". Retrieved 30 Dec 2020.
- ^ "|| Laxmi Bank Limited ||". Archived from the original on 2016-04-09. Retrieved 2011-05-06.
- ^ www.lscapital.com.np
- ^ laxmilaghu.com.np
- ^ "Sunrise Securities Limited launches share trading formally".
- ^ Laxmi Bank Limited
- ^ Nepal Rastra Bank
- ^ Laxmi Bank - eXpress Money Transfer
- ^ Bank and Financial Institution Act
- ^ Prime Life Insurance
