NEWS & ADVICE : SAVINGS ACCOUNTS
Karur Vysya Bank on expansion drive, to add 75 branches this fiscal
By Neelima Shankar
May 27, 2013
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Tamil Nadu based lender, Karur Vysya Bank is proposing to open 75 new branches this fiscal after adding 100 branches to its network in 2012-13.

KVB added 445 ATMs to take the total count to 1,303 ATMs in the last financial year. Five-hundred more are proposed to be added by the end of this financial year.

It has already started the work of redesigning select branches to make the service more customer-friendly for its customers.

KVB's business crossed the Rs 68,000-crore mark last fiscal.

On performance, KVB's Managing Director, Mr. K. Venkataraman said that the fourth quarter net profit was up by 8 per cent to Rs 158.58 crore against Rs 146.79 crore during the corresponding period of the earlier fiscal.

Net interest income grew 19 per cent to Rs 310 crore against Rs 261 crore of corresponding quarter of last financial year.

Net interest margin (NIM) fell marginally to 3.03 per cent against 3.08 per cent during the corresponding period of the previous year.


 


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