Kathmandu. Mahalaxmi Bikas Bank has been honoured with the prestigious award of the Indian Chamber of Commerce. The bank has been honoured in the category of ‘Asset Quality’.

The bank received the award at the 3rd Emerging Asia Banking Conclave and Awards held in New Delhi on Friday.

Banks from India, Sri Lanka, Nepal, Myanmar and Bangladesh participated in the banking conclave and award ceremony, which is one of the most prestigious in the BIMSTEC region.

The bank has been awarded for its outstanding work in asset structure, effective mobilization of assets and improving asset quality.

The bank believes that the receipt of this award will help establish the bank’s identity in the international arena.

Recently, Mahalaxmi Bikas Bank and HDFC Bank, India’s leading financial institution, have signed a memorandum of understanding (MoU) to promote cross-border financial services and facilitate payments from India to Nepal.