Laxmi Bank
 | This article includes a list of references, related reading or external links, but its sources remain unclear because it lacks inline citations. (November 2017) |
| Type | Public |
|---|---|
| NEPSE: LBL | |
| Industry | Banking |
| Founded | 2002 |
| Headquarters | Laxmi Bank Limited Hattisar , Kathmandu |
Area served | Nepal |
Key people | 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 | 1200+ |
| Website | www.laxmibank.com |
Laxmi Bank is the 16th commercial bank in Nepal, founded in 2002.[1]
In 2004 Laxmi Bank merged with HISEF Finance Limited, a first-generation finance company. This is the first merger in Nepali corporate history.[2] In 2016, the Bank also acquired Professional Diyalo Bikas Bank, a regional development Bank.[3]
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.[4]
The bank also promoted a life insurance company known as in 2007[5] and holds 15% shareholding stake in it.[6]
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) [7]
- 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 [8] Nepal Rastra Bank [9] and “Laxmi Bank – eXpress Money Transfer” (eMT) [10] Bank and Financial Institution Act [11] Prime Life Insurance [12]
- ^ 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.
- ^ http://laxmi.laxmibank.com/
- ^ Laxmi Bank Limited
- ^ Nepal Rastra Bank
- ^ Laxmi Bank - eXpress Money Transfer
- ^ Bank and Financial Institution Act
- ^ Prime Life Insurance
External links[]
- Banks of Nepal
- Banks established in 2002
- 2002 establishments in Nepal