Private sector Lakshmi Vilas Bank has surpassed the Rs 50,000 crore business mark and set a target to double it in next three years, a top official said. The Tamil Nadu-based bank under its expansion drive also increased the total number of branches to 500 from 292 in 2013, a bank statement said. “The main factor that is driving our branch expansion exercise is providing personalised service and customer experience. We plan to increase our branch network to increase penetration, customer reach and strengthen our network”, Lakshmi Vilas Bank, MD and CEO, P Mukherjee said after inaugurating the bank’s 500th branch here at Thoraipakkam.
On the total business, he said the bank crossed the milestone by achieving Rs 50,000 crore in total business. “The bank has set itself aggressive business targets and as part of Vision 2020, it aims to double the business in the next three years”, he said. Of the 500 branches, 271 are located in Tamil Nadu while the remaining are in 15 States and Puducherry.