Lakshmi Vilas Bank is an 83 years young bank with strong foundation and vision to have a Pan India Presence. Bank is in trajectory of sustained growth since its inception and has recorded a total business volume of Rs.15561 Cr as on 31st March 2010. The Bank has a capital base of Rs. 768.30 Crores.
The most significant part of performance is that the Bank could register stupendous net accretion of Rs. 421 Cr in CASA for the year ending 31.03.2010 as against the growth of Rs.106 Cr in the previous year.
In terms of SB, the Bank has registered 37.91% growth (net accretion of Rs 282 cr) and crossed milestone of Rs 1000 cr figure with outstanding of Rs 1025 cr as on 31.03.2010.
In terms of CA, the Bank has registered 32.90% growth (net accretion of Rs 139 cr) and closed with a figure of Rs 624 cr as on 31.03.2010.
In terms of total volume of business, the Bank has registered a growth of Rs 2888 cr during FY 2009-10 which works out to 22.78%.
At present, the bank is having an ATM base of 175 with 270 branches, 1 Satellite branch spread across 15 states and union territory of Puducherry. We are also in the process of strengthening our roots across the nation, to match our vision of having a Pan presence across India.
Bank has been instrumental in extending a blend of traditional and technologically innovative products and services. Bank is extending technology services such as RTGS, NEFT, SMS Alerts, Net Banking, Mobile Banking, E-commerce etc. Bank has launched VISA International Debit cards recently, which will facilitate card holders to withdraw cash across more than 54,000 ATMs in India and 1.2 million ATMs worldwide and make purchase online and at over 29 million merchant outlets worldwide.
In addition to the above, Bank is planning to introduce DP and online trading services shortly. Bank is exploring the possibility of launching Credit Cards and selling of gold coins etc. The Bank is in the process of availing the services of professionals for branding, image building and publicity.
The Bank has planned to focus on increasing non-interest income in geometrical proportion by aggressively selling Life insurance, Mutual funds and General Insurance for the customers and prospects.
Bank’s technological innovations have been duly recognized and as a token of it, Bank has received awards from Hitachi Data systems for most Innovative Implementation of Technology and from Oracle financial services software limited for Sustained Leadership in Quality Banking through Most Appropriate Adoption of Technology.
Keeping customer service in mind, Bank has setup a dedicated NRI –Cell at Thrisoor, exclusively to cater to the needs of our NRI customers. We are also planning to have more dedicated cells and support facilities in place to cater to the needs and requirements of our customers.
To ensure better customer services at branches, we have ensured adequate staffing and front office support. Bank has induced more energetic, Vibrant youngsters with due specialization to cater to the needs of the customer and Bank. The effective work force of the bank is around 2700.
With a strong energetic management, work staff and supportive customers in place, Bank is aspirant of achieving greater feats and translating the bank to one of the strongest banks in the private sector.