Lakshmi Vilas Bank Opens First Commercial Banking Branch in Chennai

CHENNAI:
Lakshmi Vilas Bank, one of the leading private sector bank launched the first commercial banking operations branch at Srinivas Towers, No. 5, Cenotaph Road, Teynampet, Chennai 600018.
It aims at catering comprehensively to the banking requirements of large corporates, small and medium enterprises and government undertakings. The commercial banking business will offer a comprehensive portfolio of banking products and services to Small and Medium enterprises (SME) engaged in manufacturing, trading, services and export businesses. It services farmers across India by providing term loans to purchase tractors. The Bank also offers small ticket gold loans and business loans. With these branches, the entire activities relating to post sanction credit administration & monitoring of non-retail advances under Corporate Segment and MSME Segment are spread across all the branches and are being handled by the Branches.
The Bank aims at setting up specialized branches known as “Commercial Banking Branches” at specified centers across the country to handle the entire post sanction credit operations pertaining to Corporate and MSME Segment. This would further ensure optimum use of limited resource of skilled staff, standardization of systems and processes across the Bank and efficient monitoring & control of non-retail advances centrally which would relieve the branches from credit and related operations. These Commercial Banking Branches will be designated as “B Category” Branches.
Commenting on this, P. Mukherjee, MD & CEO, Lakshmi Vilas Bank said, & We are on the path of high growth trajectory and are in the process of transforming the bank from the image of a regional bank, based out of Tamil Nadu to a pan India Bank. The Bank has undertaken several initiatives in this direction and one such initiative is to centralize the entire credit operations with a clear focus to bring about growth in business along with maintaining the health of the credit portfolio. What we aspire to build is a culture of commercial banking that facilitates progress and delivers wealth across social and income groups. Our ultimate aim is to uplift the livelihood of all Indians. We will also focus on corporate customers and hope to revolutionize the manner in which banking in India is perceived by differentiating on the quality we offer our corporate customers. We will offer services based on their convenience and customized in line with their needs’.