Laxmi Bank
From Wikipedia, the free encyclopedia
Laxmi Sunrise Bank Ltd. 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
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 9.81 billion Nepalese rupees (as of FY 2018-19).[9]
- Promoter Group - 51.05%
- General Public - 48.95%
