Kathmandu - Laxmi Bank has signed an MOU with Nepal Police Welfare Fund to establish the Nepal Police-Laxmi Bank Scholarship Akshaya Fund 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. Kedar Dhakal, Deputy Inspector
General of Nepal Police in the presence of Inspector General of Nepal Police,
Mr. Basanta Kunwar 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 disabled junior 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 – Laxmi Laghubitta Bittiya Sanstha 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, Laxmi Unnati Kosh, and open-ended scheme, Shubha Laxmi Kosh 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.