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Lakshmi Vilas Bank opens first commercial branch in city

Press Trust of India  |  Chennai 

Private sector today inaugurated its first commercial branch here, targeted at serving large corporates and small and medium enterprises.

"The commercial business will offer a comprehensive portfolio of products and services to small and medium enterprises engaged in manufacturing, trading and export businesses, a statement said.

The plans to set up Commercial Banking branches at specified centres across the country to handle the entire post sanction credit operations.

"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 to a pan bank", the bank's MD and CEO, P Mukherjee said after inaugurating the branch.

"The bank has taken several initiatives and one such initiative is to centralise the entire credit operations with a clear focus to bring about growth in business.", he said.

The commercial banking branches will be designated as "B Category" branches and would further ensure optimum use of limited resource of skilled staff, standardisation of systems and processes across the bank, the statement added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, August 09 2017. 19:32 IST