Lakshmi Vilas Bank opens 400th branch

The bank which had 362 branches and 636 ATMs at the beginning of the year added another 38 branches and 114 ATMs during the course of the year.

While the 300th branch was opened in September 2013, the 400th branch has taken just 16 more months to get opened.

These branches and ATMs are spread across 16 states and 1 Union Territory signifying the national presence of the bank.

Commenting on the events happening on the Big Day, Rakesh Sharma MD&CEO of Lakshmi Vilas Bank said “ Lakshmi Vilas Bank is on a growth path. Opening of 400th Branch and 750th ATM are symbolic of the aspirations of our Bank to become a truly national Bank by increasing its geographic presence and reach out to more and more customers. Apart from this, we also want to make our Bank as the preferred Bank for different customer segments.The launch of LVB Crown Services is a significant step in that direction. This indicatesthe intent of the management to offer specialized services in line with the requirements of various customer segments.”

“By launching LVB Crown Services, we provide exclusive services, better features and discounted pricing to our premium customers. We have chosen the word Crown to signify the exalted status that we will be providing to this class of customers. This year has been a good year for the Bank under all parameters. The Bank has shown good performance in profit, business and various efficiency parameters. The Gross NPAs which were at a high level of 5.6% as on December 31st, 2013 have come down to 3.4% as at Dec 14 end. We are confident of achieving even better results  under all parameters in future.” Sharma further added.