Himalyan Bank Ltd signs MOU with Laxmi Bank

In view of exchanging and providing state-of-the-art banking services to the customers and exploring possibilities of new banking business for mutual benefit, Himalayan Bank Limited and Laxmi Bank Limited, the two reputed private sector banks of Nepal have signed a memorandum of understanding (MoU) today amidst a function in Kathmandu. Mr. Ashoke SJB Rana, Chief Executive Officer of Himalayan Bank Limited, and Mr. Suman Joshi, Chief Executive Officer of Laxmi Bank Limited were the signatories of the MoU. The agreement shall come into effect from July 20, 2008.

In order to provide banking service to the customers of both the banks, the services of all branches of the two banks will be utilized. In addition to this, customers of both banks will be able to transfer their money from any branch to other branches of both banks.

According to the MoU, customers of both banks will benefit by having access to withdraw their money from any branch of the two banks.

In order to support each other in physical cash management in the Banks' branches within the same territory, each bank's branch will work on obtaining excess liquid fund of another bank to manage its cash position.