Laxmi Bank
{{more footnotes needed|date=November 2017}}
{{Infobox company
| name = Laxmi Sunrise Bank Limited
लक्ष्मी सनराईज बैंक लिमिटेड
| logo =
| type = Public|
| traded_as = {{NEPSE|141}}
| foundation = April 2002
| location = Laxmi Sunrise Bank Limited
[https://maps.google.com/maps/place?cid=9352531950903682488&q=laxmi+bank,+Hattisar,+Kathmandu,+Nepal&hl=en&sll=27.67175,85.410782&sspn=0.096951,0.255868&ie=UTF8&ll=27.71575,85.31476&spn=0,0&z=16 Hattisar], Kathmandu|
| num_locations = 265 Branches{{cite report| url=https://www.laxmibank.com/wp-content/uploads/2021/12/Laxmi-Bank-Annual-Report-2020-21-English-1.pdf | title=Annual report of Laxmi Bank | date=30 November 2022 }}
| 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,
| area_served = Nepal
| industry = Banking
| num_employees = 2000+ {{cite report| url=https://www.laxmibank.com/wp-content/uploads/2021/12/Laxmi-Bank-Annual-Report-2020-21-English-1.pdf | title=Annual report of Laxmi Bank | date=30 November 2022 }}
| subsid = Laxmi Capital Market Limited
| homepage = [https://www.laxmisunrise.com/ www.laxmisunrise.com]|
}}
Laxmi Bank is the 16th commercial bank in Nepal, founded in 2002.{{Cite web|url=http://bankkosamachar.com/bfis/laxmi-bank-ltd/|title=Overview|last=Bank|first=Laxmi|access-date=31 Dec 2020}}
History
In 2004 Laxmi Bank merged with HISEF Finance Limited, a first-generation finance company. This is the first merger in Nepali corporate history.{{Cite web|url=http://bossnepal.com/laxmi-bank-limited/|title=Laxmi Bank|access-date=31 Dec 2020}} In 2016, the Bank also acquired Professional Diyalo Bikas Bank, a regional development Bank.{{cite news|title=Laxmi Bank to Acquire Professional Diyalo Bikas Bank|url=https://www.newbusinessage.com/Articles/view/4632|accessdate=31 Dec 2020|work=New Business Age}}
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.{{Cite web|url=http://www.nepalstock.com/company/display/141|title=Laxmi bank limited|access-date=31 Dec 2020}}
The bank also promoted a life insurance company known as Prime Life Insurance in 2007{{cite news|title=LPrime Life Insurance: A Decade in the Making|url=https://www.newbusinessage.com/MagazineArticles/view/2185|accessdate=31 Dec 2020|work=New Business Age}} and holds 15% shareholding stake in it.{{Cite web|url=https://www.ku.edu.np/senate-members/|title=Senate Members|last=University|first=Kathmandu|access-date=30 Dec 2020}}
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) {{Cite web |url=http://laxmi.laxmibank.com/ |title=|| Laxmi Bank Limited || |access-date=2011-05-06 |archive-date=2016-04-09 |archive-url=https://web.archive.org/web/20160409155105/http://laxmi.laxmibank.com/ |url-status=dead }}
- Promoter Group - 51.05%
- General Public - 48.95%
Subsidiaries
The bank's subsidiaries are as follows:
- LS Capital Limited [http://www.lscapital.com.np www.lscapital.com.np]
- Laxmi Laghubitta Bittiya Sanstha[https://laxmilaghu.com.np/# laxmilaghu.com.np]
- Sunrise securities Limited{{cite web | url=https://english.makalukhabar.com/2024/08/205197/ | title=Sunrise Securities Limited launches share trading formally }}
References
{{refbegin}}
Laxmi Bank Limited [http://laxmi.laxmibank.com Laxmi Bank Limited]
Nepal Rastra Bank [http://www.nrb.org.np Nepal Rastra Bank]
and “Laxmi Bank – eXpress Money Transfer” (eMT) [http://www.nepalnews.com.np/contents/2007/englishweekly/spotlight/mar/mar02/national1.php Laxmi Bank - eXpress Money Transfer]
Bank and Financial Institution Act [http://www.nrb.org.np/lgd/acts_ordinances/Bank%20Tatha%20Vittiya%20Sanstha%20Sambandhi%20%5B1%5D...%202063.pdf Bank and Financial Institution Act]
Prime Life Insurance [http://www.primelifenepal.com Prime Life Insurance]
{{refend}}
{{reflist}}
External links
- [https://www.laxmibank.com/ Official Website]
- {{facebook|laxmibank|Laxmi Bank}}
{{Portal|Banks}}