Vriddhi group of companies is one of the major co-founders at Laxmi Bank. With the aim to increase its reach in the financial institution market and provide the market with innovative products and technologically progressive system and security, Vriddhi works as a promoter and director at Laxmi Bank.
Laxmi Bank, one of the leading commercial bank of Nepal, was incorporated in April 2002 as the 16th commercial bank of Nepal. The bank was founded with an investment of NPR. 15 billion in Birgunj. In 2004 it merged with HISEF Finance Limited, a first generation financial company. In 2005 it was upgraded to a national level Bank and subsequently moved its head office to the country’s capital – Kathmandu. 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 (NEPSE).
Laxmi Bank is a pioneer in introducing various innovative products and have a claim to many ‘firsts’ in the Nepalese financial market. Laxmi bank is a technologically driven progressive bank. Its technology has been rated ‘’Highly Secure’ by an independent, internationally accredited, information system auditors firms. Laxmi Bank also has very strong risk and corporate governance foundations. Laxmi Bank’s award winning Annual Reports has set the standards for quality, presentation and disclosure for the Nepalese corporate sector to follow since 2005.
Laxmi bank offers various personal and commercial financial services. The major products offered are: loans, deposits, credit and debit cards, savings, bancassurence, and microfinance. With the help of its strong technology, Laxmi Bank also offers ATM services, and various electronic banking and internet banking services to its customers.
Laxmi Bank has been performing very well in the market. Laxmi Bank’s net interest income has risen to NPR 64.25 crore in the second quarter of 2016 as compared to NPR 46.03 crore in the corresponding quarter in 2015. In second quarter of 2016, Laxmi Bank’s earnings per share (EPS) stands at Rs.19.96, net worth per share at Rs.153.77, and P/E ratio at 28.81 times.