Laxmi Bank Limited
लक्ष्मी बैंक लिमिटेड
TypePublic
NEPSE: LBL
IndustryBanking
FoundedApril 2002
HeadquartersLaxmi Bank Limited
Hattisar , Kathmandu
Number of locations
137 Branches[1]
Area served
Nepal
Key people
Mr. Raman Nepal (chairman)
Mr.Ajaya Bikram Shah (CEO)
Productsconsumer 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
1283 [2]
SubsidiariesLaxmi Capital Market Limited
Websitewww.laxmibank.com

Laxmi Bank is the 16th commercial bank in Nepal, founded in 2002.[3]

In 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

The Bank currently has a paid-up capital of Nepalese Rupees 9.81 Billion (as of FY 2018-19) [9]

  • Promoter Group - 51.00%
  • General Public - 49.00%

Subsidiaries

The bank's subsidiaries are as follows:

  • Laxmi Capital Market Limited (100%)
  • Laxmi Laghubitta Bittiya Sanstha (70%)

References

Laxmi Bank Limited [10] Nepal Rastra Bank [11] and “Laxmi Bank – eXpress Money Transfer” (eMT) [12] Bank and Financial Institution Act [13] Prime Life Insurance [14]

  1. ↑ Annual report of Laxmi Bank (PDF) (Report). 30 November 2022.
  2. ↑ Annual report of Laxmi Bank (PDF) (Report). 30 November 2022.
  3. ↑ Bank, Laxmi. "Overview". Retrieved 31 Dec 2020.
  4. ↑ "Laxmi Bank". Retrieved 31 Dec 2020.
  5. ↑ "Laxmi Bank to Acquire Professional Diyalo Bikas Bank". New Business Age. Retrieved 31 Dec 2020.
  6. ↑ "Laxmi bank limited". Retrieved 31 Dec 2020.
  7. ↑ "LPrime Life Insurance: A Decade in the Making". New Business Age. Retrieved 31 Dec 2020.
  8. ↑ University, Kathmandu. "Senate Members". Retrieved 30 Dec 2020.
  9. ↑ "|| Laxmi Bank Limited ||". Archived from the original on 2016-04-09. Retrieved 2011-05-06.
  10. ↑ Laxmi Bank Limited
  11. ↑ Nepal Rastra Bank
  12. ↑ Laxmi Bank - eXpress Money Transfer
  13. ↑ Bank and Financial Institution Act
  14. ↑ Prime Life Insurance
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