Karur Vysya Bank (KVB) has expanded its branch network by inaugurating three new branches, strengthening its presence in Andhra Pradesh, Karnataka, and Tamil Nadu. This expansion aligns with the bank’s ongoing strategy to enhance accessibility and customer service across key regions.
Newly Opened Branches:
- Ongole, Andhra Pradesh (878th branch) – Inaugurated by Dr. Koduru Venkateswara Rao, Commissioner, Ongole Municipal Corporation.
- Bangalore, Karnataka (879th branch) – Inaugurated by Mr. Shiva Kumar, President, Peenya Industries Association.
- Bagayam, Tamil Nadu (880th branch) – Inaugurated by Mrs. Anitha, Joint Commissioner, HR & CE, Vellore.
The new branches will offer a full suite of banking services, including retail and commercial banking, along with third-party tie-ups for insurance products. They are equipped with ATMs, cash deposit machines, and passbook printers for customer convenience.
KVB’s Growth and Digital Initiatives
- Branch Expansion: With these additions, KVB now operates 880 branches.
- Financial Strength: The bank reported a total business of ₹1,81,993 crore as of December 31, 2024, with deposits of ₹99,155 crore and advances of ₹82,838 crore.
- Profitability: KVB posted its highest-ever net profit of ₹1,605 crore in the last financial year, while its net NPA stood at just 0.20%.
- Digital Banking: KVB’s mobile banking app, KVB DLite, has been upgraded with 150+ customer-friendly features for seamless banking.
The move is part of Karur Vysya Bank’s broader strategy to strengthen its footprint and provide efficient banking solutions to customers across India.
TOPICS:
Karur Vysya Bank