Laxmi Bank’s fifth branch office is coming into operational from Thursday on November 10 in Biratnagar.
This is a full fledged branch offering the entire range of banking services including personal and business loans, trade finance and remittances, states a press release. Amit Singh Karki has been designated the branch manager of the branch. Laxmi Bank commenced operation in mid 2002 as a regional bank headquartered in Birgunj. The bank has branches in Pokhara, Banepa and Kathmandu as well.
As of end of the last fiscal year 2004-05, the bank’s total deposits touched Rs 3,500 million, while its lending stood at Rs 3,050 million. Laxmi Bank has successfully completed the first and the only merger in the history of Nepali financial sector. The non-performing assets (NP-A) of the bank stands at 1.3 per cent of the loan portfolio. The NPAs have been sufficiently provided for and net NPA as such is virtually zero, claims the bank.

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