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Monday, October 8, 2012

Karur Vysya Bank to open 100 branches, 400 ATMs this fiscal

Karur Vysya Bank plans to open 100 new branches and 400 ATMs during the current fiscal across the country, according to K. Vekataraman, Managing Director and Chief Executive Officer.

“Our target is to reach 540 branches pan-India by March 2013. This is in line with the long-term goal of achieving a total business of Rs 1,25,000 crore by 2016, when the bank celebrates its centenary”, he said.

Speaking at the 96{+t}{+h} Founders’ Day of the bank here, Venkataraman said that the business has grown to over Rs 59,000 crore with a deposit base of Rs 33,450 crore and advances of Rs 25,675 crore.

On the occasion he announced the bank’s corporate social responsibility programme. It is in the process of identifying around 500 Government schools across the country, where the bank will provide basic amenities of ceiling fans and tube lights in classrooms. He added that the roll out will begin shortly.

K.P. Kumar, Chairman, said support from the bank’s valued customers has been instrumental in the progress of KVB.

The bank was started in the year 1916 in Karur, then a small textile town in Tamil Nadu with a seed capital of Rs 1 lakh.


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