| Laxmi Sunrise Bank Limited लक्ष्मी बैंक लिमिटेड | |
| Type: | Public |
| Foundation: | April 2002 |
| Location: | Laxmi Sunrise Bank Limited Hattisar, Kathmandu |
| Num Locations: | 265 Branches[1] |
| 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+ [2] |
| Subsid: | Laxmi Capital Market Limited |
| Homepage: | www.laxmisunrise.com |
Laxmi Bank is the 16th commercial bank in Nepal, founded in 2002.[3]
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.
The Bank currently has a paid-up capital of Nepalese Rupees 9.81 Billion (as of FY 2018-19) [9]
The bank's subsidiaries are as follows:
Laxmi Bank Limited [13] Nepal Rastra Bank [14] and “Laxmi Bank – eXpress Money Transfer” (eMT) [15] Bank and Financial Institution Act [16] Prime Life Insurance [17]