Mid Market caters to the needs of medium sized enterprises that fall between the segments of Corporate Banking and Retail Banking. The unit basically focuses on providing services based on relationship as well as semi-programmed credit to meet the needs of the dynamic medium enterprises which is the major source of employment and social stability and driver of growth of the economy.
The risk asset portfolio of mid market consists of sectors like manufacturing, trading, tourism, agriculture and other service sectors. There is a significant market for financial institutions in Nepal for financing small and medium enterprises because the market still depends heavily upon unorganized financial sources. In this regard, there is huge chunk of unbanked customers whose priority is to have access to finance. Aside from existing business units having banking access, Mid Market also cater to unbanked entrepreneurs for their growth and expansion. The unit mainly focuses on contributing to the development of the emerging and productive private sector.
Mid Market also emphasizes on enhancing the value proposition by providing entire gamut of financial and non-financial services to the medium sized enterprises according to their needs.
It also emphasizes on enhancing the value proposition by providing entire gamut of financial and non-financial services to the medium sized enterprises according to their needs. Managed by a team of professionals having sound knowledge of banking and market dynamics. The relationship managers of Mid Market focus on providing financial and managerial advices and consultancy services in need basis to enrich the business of the clients. They also aid in providing business links between potential suppliers and customers availing relationship with the bank. The unit aims to provide high quality customer service and customer satisfaction by offering products that suits their business and market.
Understanding the customer’s need and fulfilling it through customized banking products is one of the main priorities of Mid Market. The product development in mid market is done emphasizing the heterogeneous needs of the market. The unit has been successful to retain, grow and gain the trust of the clientele in varied sectors. The Mid Market centre is located at Teku and its services are available in branches of Laxmi Bank.
The loan portfolio under mid market has low concentrated risk as the loan size is small and invested in diverse sectors. The utilization of loan in productive sectors has scope for the small and medium enterprises to grow even bigger in size. The reward for Mid Market is potentially huge not just for the bank and its overall loan portfolio, but for the economy as a whole.