Laxmi Bank launches ‘Nepal Police Laxmi Bank Scholarship Fund’
Laxmi Bank has signed an MOU with Nepal Police Welfare Fund to establish the Nepal Police-Laxmi Bank Scholarship AkshayaFund worth NPR 25 lakhs and pledges financial assistance of NPR 7.5 lakhs over the next five years as part of its SupportGirlChild initiative.
The MOU was signed by Mr. Dipesh Amatya, Chief of Retail Financial Services, Laxmi Bank and Mr. KedarDhakal, Deputy Inspector General of Nepal Police in the presence of Inspector General of Nepal Police, Mr. BasantaKunwar and Chief Executive Officer of Laxmi Bank, Mr. Ajaya Bikram Shah. This scholarship fund aims to support deserving female students from the families of incumbent, former, and retired, martyred or disabledjunior level police officers studying in Police Schools.
Nepal Police will manage and oversee the scholarship selection process while Laxmi Bank will provide financial support. The Bank is confident that this initiative will strengthen its SupportGirlChild campaign and empower deserving students from these schools to enhance their education.
About Laxmi Bank
Laxmi Bank was established in 2002 as the 16th commercial bank in Nepal. 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 – LaxmiLaghubittaBittiyaSanstha Ltd, a category D financial institution licensed by Nepal Rastra Bank is in operation since 2012 and has a network of 90 branches with loans of over NPR 7.52 billion.
Similarly, Laxmi Bank’s investment banking subsidiary – Laxmi Capital Market Ltd, licensed by the Securities Board of Nepal manages three mutual fund schemes under Laxmi Mutual Fund Laxmi Equity Fund, LaxmiUnnatiKosh, and open-ended scheme, Shubha LaxmiKosh 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.