Chennai, April 2017: Lakshmi Vilas Bank, one of India’s fast emerging banks, is expanding its footprint rapidly. The 500th branch located, Thoraipakkam, Chennai was inaugurated today by Shri P.Mukherjee, Managing Director of the Bank.
Lakshmi Vilas Bank has been on a growth trajectory and has witnessed a rapid growth. The bank has increased its branch network from 292 branches in March 2013 to 500 branches in 4 years. The Bank has ensured that its growth is not limited to its original strong hold of Tamilnadu. Out of the 500 branches, 271 are located in Tamilnadu while the remaining 229 are spread across 15 States and 1 Union Territory.
The bank has also crossed another milestone by achieving Rs. 50000 cr total business. Along with the number of the branches, the Bank has also been growing its business rapidly and has almost doubled the total business during the last 4 years.
Commenting on the occasion, Shri P.Mukherjee, MD&CEO, Lakshmi Vilas Bank said, “We are delighted to inaugurate the 500th Branch. The main factor that is driving our branch expansion exercise is providing personalized service & excellent customer experience. We plan to increase our branch network to increase penetration, customer reach and strengthen our network. We look forward to bringing a whole new world of convenience and flexibility to customers across the Bank by offering a wide array of specially tailored products along with best of class service.”
He also added, “About the business levels, Mr. Mukherjee said that the bank has set itself aggressive business targets and as a part of VISION 2020, it aims to double its business in the next 3 years”.
About Lakshmi Vilas Bank:
Lakshmi Vilas Bank was founded in 1926 and it has a national presence serving over 2 million customer accounts through its 500 branches, 7 Extension Counters and 965 ATMs in 16 states and Union territory of Pondicherry.
The bank is active across the entire spectrum of customer segments – retail, mid-market and corporate. Through its branches, the bank also offers a host of para-banking products in association with Life, General and Health Insurance companies, mutual funds, stock broking houses, money remittance companies, etc. on a technologically advanced platform.