Laxmi Bank has received the approval of the Nepal Rastra Bank to upgrade its Hattisar office into a full-fledged branch and corporate office. The office of HISEF at Hattisar was converted into a Laxmi Bank office in May 2004 following the merger of the two entities. Laxmi Bank began operation in mid-2002 as a regional bank headquartered in Birganj. The bank has branches in Pokhara and Banepa and a fifth branch will open in Biratnagar in November 2005.