Laxmi Laghubitta
Bittiya Sanstha Ltd. 

 Kathmandu-03, Kapan Marg, Maharajgunj, Kathmandu, Nepal
Tel:+977-1-4373682  /  4370548            

Fax 977-1-4374234 
Email: info@laxmilaghu.com.np

second AGM concluded
Jan 27, 2014
second AGM concluded


Press Release

January 14, 2014

 

Second Annual General Meeting

 

The Second Annual General Meeting of Laxmi Laghubitta Bittiya Sanstha Ltd (LLBS), a subsidiary company of Laxmi Bank Limited was held on 14th January 2014at Kathmandu, Nepal.

 

The meeting passed the Board of Directors Report presented by Chairman, Mr. Nirmal Dahal, along with financials of 2012/13. The meeting also adopted the resolution to amend Memorandum of Associations and appointment of Auditor for FY 2013/14.

 

 LLBS had received operating license from Nepal Rastra Bank on 6th March 2012 to operate as "D" class (national level) financial institution. Having Head Office in Kathmandu LLBS is providing microfinance services by establishing 18 branch offices in 15 districts of Nepal. As per the policy to provide financial services in unserved and underserved areas of Nepal it has focused mountain and hilly districts to establish branch networks. The districts that include branch offices of LLBS are: Mustang, Bajhang, Baitadi, Dhading, Sindhupalchok, Dolakha, Dhankuta, Tanahu, Lamjung, Nuwakot, Ilam, Palpa, Kanchanpur, Nawalparasi and Banke districts.

 

LLBS has provided microfinance services to 8,367 clients through 18 branch offices till December 2013. The total loan disbursement till the reporting period is NPR 224 million and saving mobilized from member clients is NPR 31 million. LLLBS plans to add four new branch offices and will go for IPO within this fiscal year (2013/14).

 

According to the Chairman Mr. Nirmal Dahal, Laxmi Laghubitta is trying to take microfinance movement of Nepal in next stage by utilizing information technology, professional management and smart working style. The Laxmi Laghubitta is equally aware about the value and norms of microfinance and wants to achieve social objective while doing the business.