Lakshmi Vilas Bank’s total business grows by 23% to Rs 15,561 cr

Lakshmi Vilas Bank (LVB), the leading, fast-growing private sector Bank has recorded a remarkable business performance during the financial year ended 31st March, 2010:

• Total Deposits level rose from Rs. 7,358 crore to Rs. 9,076 crore, increasing by 23% year on year basis.
• CASA deposits have increased from Rs. 1,229 crore to Rs. 1,650 crore registering year on year growth of 34%.
• Credit portfolio expanded from Rs. 5,315 crore to Rs. 6,485 crore, registering year on year growth of 22%. 
• Total Business improved from Rs. 12,673 crore to Rs. 15,561 crore, growing at 23% on year on year basis.

The Bank has a national presence serving around 16 lakh satisfied customers through its 271 branches, spread across 14 states and 1 union territory of the Country.  The bank has a network of 175 ATMs.  Bank has plans to open many offsite ATMs and POS across the country during the current year through the recently introduced VISA enabled International Debit Cards. The Bank has expanded its operations by opening 20 new branches and has plans to expand branch network by opening more branches in various parts of the country in the new financial year.

About Lakshmi Vilas Bank:
Lakshmi Vilas Bank is a leading, fast-growing private sector bank in India, with an over 8 decades old lineage. The Bank caters to the need of both consumer and corporate clients and has a robust technology platform supporting multi–channel delivery capabilities. The Bank enjoys the patronage of several lakh customers across India through a network of 271 branches and over 168 ATMs spread over 14 states and 1 union territory.

The Bank’s focus is on delivering customer delight by maintaining the highest standards of service. As a full service bank, Lakshmi Vilas Bank has a wide product portfolio such as business credit, home loans, rental loans, car loans, education loans, SME credit facilities, NRI Services and online banking. It offers a wide array of mutual fund products from 10 asset management companies (AMCs). The Bank also offers life insurance products of Aviva Life Insurance Co. Ltd. and general insurance products of Bajaj Allianz General Insurance Co. Ltd.

For further information log onto:  www.lvbank.com