Laxmi Bank receiving the award.
(Photo courtesy: Laxmi Bank)

Laxmi Bank, one of the leading commercial banks of the country has been awarded the ‘Best Presented Accounts 2004-05’ for the second consecutive year.

A press release issued by the Bank said the Bank received the award for presenting another exceptional Annual Report.

Auditor General Gahendra Nath Adhikari presented the award amidst a function held on Tuesday.

“The Bank’s international operating models have yet again set an example of good corporate governance thereby promoting higher standards in Nepal,” the statement adds.

The Institute of Chartered Accountants of Nepal (ICAN), the apex body of accounting professionals has been awarding the ‘Best Presented Award’ to financials and non-financial institutions with the best-presented annual report since the last 4 years with the aim of encouraging Nepalese business sectors to prepare financial statements with a high degree of professionalism and disclosures.

The award is based on points received for disclosures, report presentation, timely issuance of annual report and holding the AGM, and also for maintaining a highest standard of corporate governance.