October 13: Laxmi Bank has inaugurated its new branch in Phungling, Taplejung. The bank said this new branch will offer full range of retail banking services customized to meet the needs of individuals and small businesses.

According to a press statement issued by the bank, this is the first branch of Laxmi Bank in Taplejung district and is operated under the joint initiative of Laxmi Bank and United Nation Capital Development Fund (UNCDF) under the Unnati Access to Finance Project to provide financial access to unbanked and under-banked population of nine districts in the Eastern Development Region.                                  

With this, Laxmi Bank network has spread across 41 district with 72 branches, 3 hospital service counters, 93 ATMs and more than 2500 remittance centers and more than 400 mobile banking agents. The bank is rapidly expanding to newer and underserved markets with the aim of meeting the growing demand for professional financial services such as innovative saving accounts, term deposits, home and auto loans, small business loans, microfinance, insurance, reads the statement.

The bank said it actively promotes digital channels such as internet and mobile banking to complement the growing number of branches as part of the ‘bricks and clicks’ strategy.