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Laxmi Bank
From Wikipedia, the free encyclopedia
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Laxmi Bank is the 16th commercial bank in Nepal, founded in 2002.[3]
 | This article includes a list of general references, but it lacks sufficient corresponding inline citations. (November 2017) |
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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.
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Ownership structure
The Bank currently has a paid-up capital of Nepalese Rupees 9.81 Billion (as of FY 2018-19) [9]
- Promoter Group - 51.05%
- General Public - 48.95%
Subsidiaries
The bank's subsidiaries are as follows:
References
External links
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