Lakshmi Vilas Bank Celebrates its Big Day

Lakshmi Vilas Bank has celebrated 2nd Feb, 2015 as a BIG DAY. On this Day, the Bank has opened  its 400^th Branch and 750^th ATM at Bommanahalli Bangalore. 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. The Bank has been on a growth path in recent times . While the 300^th branch was opened in September 2013, the 400^th 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.

 Continuing its focus on Alternate Channels, the Bank has also announced on the BIG Day that it has increased its POS terminals to 4000.

Apart from the above, the Bank has also unveiled on this day, its new offering to HNI customers titled “LVB Crown Services”. This proposition has been designed to offer better service and enhanced benefits to its premium customers.  LVB Crown Services enables the customer to avail the services of dedicated Relationship Managers, exclusive LVB Crown lounge services at  select branches, Visa Platinum Debit Card, free Personal Accidental Insurance of Rs. 25 lacs and 25% discount on other facilities like Locker rentals. Bank also offers free family banking accounts viz Lakshmi Mahila and Lakshmi Youth accounts besides providing higher daily ATM withdrawal limits, POS spend limits across merchant establishments and e commerce.

Commenting on the events happening on the Big Day, Sri Rakesh Sharma MD&CEO of Lakshmi Vilas Bank said “ Lakshmi Vilas Bank is on a growth path. Opening of 400^th Branch and 750^th 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 indicates the 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 31^st, 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.” Mr. Sharma further added.

About Lakshmi Vilas Bank:

Lakshmi Vilas Bank is founded in 1926 and it has a national presence serving over 2 million customers through its 400 branches, 7 Extension Counters and 750 ATMs, totaling close to 1100 outlets 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 and General Insurance companies, mutual funds, stock broking houses, money remittance companies, etc. on a technologically advanced platform.