Laxmi Bank opens two new branches in Sunsari, Morang; extension counter in Jajarkot Business 360

Laxmi Bank opens two new branches in Sunsari, Morang; extension counter in Jajarkot

This image shows the building of Laxmi Bank branch office at Shanti Chowk, in Inaruwa Municipality-1, Sunsari district. Photo: B360

KATHMANDU: Laxmi Bank has opened its 139th branch in Inaruwa Municipality of Sunsari district and 140th in Urlabari Municipality of Morang.

The branch located in Shanti Chowk, Inaruwa-1 was inaugurated on December 7 and the another one at Urlabari Chowk, Urlabari-5 on December 8.

In addition to these branches, the bank also inaugurated its 9th extension counter in Sepukhola of Barekot Rural Municipality–8 in Jajarkot District.

These newly opened branches will offer a full range of retail banking services to their customers and expand their services to small and large businesses.

With the above new addition, Laxmi Bank network now includes 140 branches across 50 districts, five hospital service counters, nine extension counters, 170 ATMs, 2,500 remittance agents and 63 branchless banking agents spread across the country.

Laxmi Bank is rapidly expanding to newer and underserved markets with the aim of providing the growing demand for professional financial services such as innovative saving accounts, term deposits, home and auto loans, small business loans, microfinance.

The Bank actively promotes digital channels — internet and mobile banking — to complement the growing number of branches as part of the ‘bricks and clicks’ strategy allowing customers to access the banking services through a channel of their choice: branches, ATM, internet and mobile phones.

About Laxmi Bank

Laxmi Bank was established in Nepal 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 recognised as one of the best-managed banks in Nepal with high standards of corporate governance culture, risk-management systems and strong technology.

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 and has a network of 72 branches with loans of over NPR 4 billion.

Similarly, Laxmi Bank’s investment banking subsidiary – Laxmi Capital Market Ltd, licensed by the Securities Board of Nepali’s offering various merchant and investment banking services since February 2009. Laxmi Capital also manages Laxmi Equity Fund and Laxmi Unnati Kosh, 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 2020/21 with a balance sheet size of NPR 152 billion that includes deposits and risk assets of NPR  117 billion and NPR 108 billion respectively. All key financial indicators of the Bank are well within prudential and regulatory norms.


Share This Post


Business 360 is a magazine that delivers on quality business news content, profiles of entrepreneurs and leaders, features on issues that matter, articles that assess and analyze policy and delivery mechanisms in the world of trade and commerce

Related Post

    Leave a Reply

    Rate this post

    Your email address will not be published. Required fields are marked *