Laxmi Sunrise Bank Ltd. is the 16th commercial bank in Nepal, founded in 2002.
In 2004 Laxmi Bank merged with HISEF Finance Limited, a first-generation finance company. This is the first merger in Nepali corporate history. In 2016, the Bank also acquired Professional Diyalo Bikas Bank, a regional development Bank.
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.
The bank also promoted a life insurance company known as Prime Life Insurance in 2007 and holds 15% shareholding stake in it.
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 â 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 9.81 billion Nepalese rupees (as of FY 2018-19).
The bank's subsidiaries are as follows:
Laxmi Bank Limited Nepal Rastra Bank and âÂÂLaxmi Bank â eXpress Money Transferâ (eMT) Bank and Financial Institution Act Prime Life Insurance