Karur Vysya Bank Expands Presence with Four New Branches in Tamil Nadu
Karur Vysya Bank Expands Presence with Four New Branches in Tamil Nadu. Karur Vysya Bank (KVB) marked a significant milestone by inaugurating four new branches in Tamil Nadu, strengthening its commitment to customer service and expanding its presence across the state. These new branches are strategically designed to meet the diverse banking needs of customers, offering comprehensive financial solutions including accounts, deposits, loans, and locker facilities.
Karur Vysya Bank Expands Presence with Four New Branches in Tamil Nadu
Details of the New Branches
The newly inaugurated branches reflect KVB’s proactive efforts in reaching customers in urban and semi-urban areas. The branches were inaugurated by distinguished individuals, further adding to the celebratory occasion. The details of the branches are as follows:
- Madurai (Othakadai):
- Inaugurated by Mrs. N. Usha, Joint Commissioner (Commercial Taxes), Intelligence, Madurai.
- Tirupur (Muthur):
- Inaugurated by Mr. M.S. Shanmugam, Correspondent, Vivekananda Educational Institution, Muthur.
- Krishnagiri (Gandhi Road):
- Inaugurated by Mrs. A. Aftab Begum, Secretary, District Panchayat Office, Krishnagiri.
- Chennai (Kolathur):
- Inaugurated by Mr. Hanish Chaabra, IAS, Managing Director, New Tirupur Area Development Corporation Ltd, Chennai.
With these additions, KVB’s branch network has expanded to 862 locations across India, demonstrating the bank’s robust growth and customer-centric approach. These four new branches are part of the 24 new branches added during the financial year 2024-25.
Enhanced Customer Services and Facilities
Each of these branches is fully equipped to handle essential banking transactions while addressing specific customer needs. The branches will offer a broad range of products and services, including:
- Savings and Current Accounts
- Deposits and Fixed Deposit Schemes
- Retail and Institutional Lending
- Locker Facilities
- Personal and Business Loans
This initiative will empower local communities with access to modern and reliable banking solutions.
Focus on Digital Banking
KVB continues to enhance its digital capabilities, providing customers with seamless banking experiences. The bank’s KVB DLite Mobile Banking App has emerged as a versatile digital tool, offering over 150 features for financial and non-financial transactions.
Recent upgrades to the app have introduced additional customer-friendly functionalities, ensuring greater convenience for users to manage their banking needs anytime, anywhere. From account management to fund transfers, bill payments, and more, the app strengthens KVB’s commitment to digital-first banking.
KVB’s Expanding Network and Growth
With its vast network of 862 branches and over 2,200 ATMs and cash recyclers, Karur Vysya Bank has fortified its presence across the banking landscape in India. The bank’s expansion strategy reflects its focus on offering accessible banking solutions to all.
As of September 30, 2024, KVB reported impressive financial growth:
- Total Business: ₹1,76,138 crore
- Deposits: ₹95,839 crore
- Advances: ₹80,299 crore
In the last financial year, KVB achieved its highest-ever net profit of ₹1,605 crore, underscoring its strong operational efficiency and financial performance. For the first half of the current fiscal year, the bank recorded a net profit of ₹932 crore.
Impressive Asset Quality
One of the highlights of KVB’s performance is its remarkable asset quality, as reflected in its Net NPA (Non-Performing Asset) ratio of 0.28%. This underscores the bank’s prudent risk management and strong recovery efforts.
Conclusion: Strengthening KVB’s Reach
The inauguration of these new branches marks another step forward in Karur Vysya Bank’s growth journey. By expanding its physical presence and enhancing digital offerings, KVB continues to meet the evolving needs of its customers. With a strong focus on innovation, customer satisfaction, and financial performance, KVB is well-positioned to strengthen its role as a leading banking institution in India.
As KVB celebrates this milestone, it reaffirms its commitment to delivering comprehensive and accessible banking solutions to customers across Tamil Nadu and beyond.
