Siddhartha Gurung

Laxmi Sunrise Bank

Laxmi Bank Ltd. was incorporated in April 2002 as the 16th commercial bank in Nepal. In 2004 Laxmi Bank merged with HISEF Finance Limited, a first generation financial company which was the first merger in Nepali corporate history. Further, the bank acquired Professional Diyalo Bikas Bank in January 2017, a class "B" development bank. Today, through its branches and a host of IT enabled channels, the Bank serves a wide range of customers. Despite a relatively short history, Laxmi Bank has emerged as a major player across all business lines – retail, midmarket, corporate, infrastructure and treasury. The Bank is widely recognized as one of the best-managed banks in Nepal with high standards of corporate governance culture, risk-management systems and a strong technology. 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. Similarly, Laxmi Bank's investment banking subsidiary – Laxmi Capital Market Ltd, licensed by the Securities Board of Nepali's offering various merchant and investment banking services since February 2009. Laxmi Capital also manages Laxmi Value Fund – 1 and Laxmi Equity Fund, the two Mutual Funds sponsored by Laxmi Bank, both of which are listed and traded at the Nepal Stock Exchange. The Bank closed the previous financial year 2021/22 with a balance sheet size of NPR 173 billion that includes deposits and risk assets of NPR 139 billion and NPR 132 billion respectively. All key financial indicators of the Bank are well within prudential and regulatory norms.