KATHMANDU: Established in 2002 as a regional bank in Birgunj, Laxmi Bank was upgraded as a national level bank in 2005. Today, through 49 branches and a range of digital channels including 62 ATMs, internet and mobile, the bank serves the entire spectrum of the economically active population across the country, as per a statement issued on Thursday.  In this relatively short period, Laxmi Bank has emerged as a major player across all business lines. The bank is widely recognised as one of the best managed banks in Nepal with high standards of corporate governance, risk management systems and strong technology. All key financial indicators are well within prudential and regulatory norms, including non-performing assets of 1.14 per cent as at the end of the second quarter of the current financial year.  Laxmi Bank merged with HISEF Finance in 2004 marking the first ever corporate merger in Nepal. The bank currently has a balance sheet of Rs 47 billion with capital of Rs 3.03 billion. Laxmi Bank’s 15th AGM held on February 11 has approved increasing the paid-up capital to Rs eight billion by July 2017 in line with central bank’s regulations through capitalisation of profits and issue of rights shares.