Laxmi Bank

Laxmi Bank is the 16th commercial bank in Nepal, founded in 2002.^[3]

Laxmi Sunrise Bank Limited
लक्ष्मी सनराईज बैंक लिमिटेड

Company type	Public
Traded as	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 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:

• LS Capital Limited ^[10]
• Laxmi Laghubitta Bittiya Sanstha^[11]
• Sunrise securities Limited^[12]