The Hindu : Tamil Nadu News : Lakshmi Vilas Bank to open 12 branches today

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Friday, May 30, 2008
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Tamil Nadu

Tamil Nadu

Lakshmi Vilas Bank to open 12 branches today

Staff Reporter

Customers can transact at 4,400 ATMs across country

It has achieved 100 per cent core banking solution status for the benefit of customers

KARUR: Lakshmi Vilas Bank (LVB) is expanding its network by opening 12 new branches across the nation on a single day on Friday.

The new branches are at Panipat (Haryana), Rohini (New Delhi), Ranchi (Jharkhand), Bilwara (Rajasthan), Kalyan and Kharghar (Maharashtra), Khammam, Anantapur and Adilabad (Andhra Pradesh), Bhubaneshwar (Orissa), Karanodai and Ayodhyapattinam (Tamil Nadu).

The bank now serves the customers in 14 States and one union territory with a total branch network having touched 251.

Today the bank is also dedicating 12 ATMs attached to branches located in various centres taking the total number of ATMs to 50.

The Bank has achieved 100 per cent core banking solution (CBS) status and introduced many attractive, customer-friendly and cost-effective products to meet the growing needs and demands of the customers.

The bank has also inaugurated a state of-the-art technology centre at Chennai recently.

The bank has tied up with “Cash Tree” network of ATMs and over 4,400 ATMs of 12 different member banks across the country were now available to the LVB clients, free of charges. The bank is in an advanced stage of rolling out Internet banking and mobile banking services.

In a press release issued here, LVB Managing Director V. S Reddy informed that the bank has set a total business target of Rs. 15,125 crore for 2008-09.

The Bank has plans to open 25 new branches and create own ATM network of 100.

The dynamic business plan for 2008-09 envisages addition of three lakh clients to its existing customer base of 1.4 million, he added.

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