The old generation bank, Karur Vysya Bank, has announced that it will strengthen its branch network by taking its total branches count to 700 by the end of fiscal year 2016. Reportedly, on Wednesday, the bank set up 14 new branches and 100 Automated Teller Machines (ATMs) across the country.
Taking the newly opened branches into consideration, the private sector lender's total branch count has increased to 514 branches. Reportedly, the bank is focusing on increasing its presence in states like Andhra Pradesh, Gujarat, Karnataka, Maharashtra and Tamil Nadu. At present, the bank has a total number of 1400 ATMs covering the length and breadth of the country. In addition to this, about 58 percent of the bank's branches are located in rural and semi-urban areas.
On the matter, the Managing Director and CEO of the KVB, Mr. K. Venkataraman said, "Our focus remains on the southern states and we aim to grow in clusters in order to grow in local areas. We will be adding about 60-70 branches by March 2013."
On improving customer relations, Venkatraman said, "Our basic relationship model of operations will continue as it will help us retain and monitor our customers closely. We are also improving our in-branch experience."