Laxmi Bank was incorporated in April 2002 as a commercial bank. The current shareholding constitutes of promoters holding 55.42 percent, Citizen Investment Trust holding 9.02 percent and the general public holding 35.56 percent. Promoters represent Nepal’s leading business families with diversified business interests. The Bank’s shares are listed and actively traded in the Nepalese Stock Exchange.
Laxmi Bank has grown with branches in Birgunj, Banepa, two in Pokhara, Biratnagar, Narayanghat, Pulchowk, Lalitpur, Teku, New Road, Janakpur, New Baneshwor, Damak, Bhatbhateni, Itahari and Maharajgunj. Following the merger with Hisef Finance Ltd., a decade old first generation finance company, its office in Hattisar, Kathmandu was converted to that of Laxmi Bank. This office was converted to a full branch and our corporate office in October 2005.
With a view to providing safe, seamless, quick and advance banking services, the bank has been heavily investing in contemporary banking technologies. The Bank uses Flexcube as its main banking platform. Flexcube incidentally has been ranked the number one selling core banking solution globally, and has been embraced by over 500 financial institutions across over 90 countries. The Bank provides its services through a host of delivery channels including cell phone, Internet, ATM, Point of Sales (PoS) etc., in addition to a network of physical branches. Our Internet banking facility comes with capabilities of online shopping in addition to regular Internet banking features. Similarly, through the bank's alliance with Smart Choice Technologies (SCT), the ATM/Debit cardholder of Laxmi Bank has access tor a network of ATMs, and PoS terminals located in all major urban centers of the country. The bank is the first in South Asia to have implemented SWIFTNet, the advanced version of the SWIFT technology, which is used for speedy and secure payment and messaging services.
Under a professional management team, the bank has established itself as an emerging key player. Today the bank is recognized as an innovative and progressive bank geared to providing shareholders and customers with quality earnings and value-added services. Transparency, good governance, and sound business growth are our driving forces.Passion For Excellence
Our pursuit of excellence has led us to take several bold steps, sometimes to the extent of pursuing strategies or introducing initiatives, which no Nepali Bank has previously attempted. Our pioneering spirit has been received with tremendous encouragement, evident through awards like the Best Presented Accounts.
Our Mission
We take great pride in the fact that our vision, mission and values are not the sole properties of our leadership. They belong to each and every staff. Our people identify with our business philosophy and have elected overwhelmingly to play their parts to make it a reality. Our mission thus goes as follows:
We are committed to excellence in delivery of entire gamut of financial services in order to achieve sound business growth and maximize stakeholder values by embracing team spirit, progressive technology and good corporate governance.
Our IT capabilities are arguably the best in Nepalese banking industry today, products and services we offer are comprehensive in context of the markets we operate in, we have been recognized for transparency and good governance, we have built a solid foundation for sound business growth. But we are not done yet, we are only beginning the scratch the surface and we believe we can achieve much more and continue setting standards. We Aim For Total Stakeholder Satisfaction
The main pillars of support for Laxmi Bank are its customers, shareholders and our employees. It is our mission to deliver quality banking and stakeholder satisfaction in the true meaning of the word. We fully grasp the ultimate importance of engaging more closely in customer relations at every level, ensuring satisfactory, sufficient profits and ploughing back the fruits of our business successes back to customers, the community, and shareholders.
Our values are built around high standards of corporate governance
Transparency, professionalism and high ethical tone at the leadership are pillars on which our actions are based. Laxmi Bank’s Code of Conduct encapsulates international best practices applicable to Nepali context. The level of commitment of our people to take Laxmi Bank to greater heights has been a huge catalyst. The team spirit within the organization is something we are proud of.
Building a Strong Corporate Identity
Identity is formed by an organization’s history, its beliefs and philosophy, the nature of its technology, its people, ethics, culture and strategies. We have made great efforts to build and protect the integrity and value of our brand in the marketplace and ensure that we do our nation proud as its most proficient representative of the financial community.
We are gratified to note that our corporate reputation is fast becoming a key source of competitive advantage.
And Finally Our Vision
We have envisioned that we shall be / have:
Provider of most integrated financial services
Key player in consumer banking
The best asset book
Best IT capability
Preferred employer in the financial sector
Over a period of time, Laxmi Bank foresees itself to be one of the leading banks in Nepal and eventually a niche player in the South Asian region.
The bank expects to achieve its overall vision through the strength of its strong management pillars, which includes professionalism, team spirit, customer focus, technology support, driven and outward looking culture, good corporate governance, individual challenges and empowerment.
Strategy
At the bank’s management conference 2005, we adopted ‘Growth Thru Efficiency’ as our strategic theme for the current year. The strategy is evolutionary, not revolutionary. It builds on the bank’s strengths and it addresses the areas where further improvement is considered both desirable and attainable.
To improve profitability in future, the bank shall continue to improve its customer services and product deliveries, thereby attracting long-term low cost deposits, and improve fee based revenue streams. The bank also intends to increase its business volume through steady growth in risk assets, while maintaining its quality.
The bank shall continue focusing on quality, and not be too volume driven, given the current business environment in Nepal, which is not conducive for an aggressive growth. Laxmi Bank’s activities and results thereof over last couple of years clearly indicate that the bank is not prepared to compromise on quality for short-term growth.
