Ad Here  
Curbing steel imports will hurt small business... Gem of social service... Towards peace of mind TVS Logistics – another acquisition to sharpen the business model European crisis is a global crisis! Dynamic e-commerce scenario Carrefour’s quick exit ALL-two launches in a row Need to focus on ease of doing business... Placing the right shoe forward... Indigo stays leader with 40 per cent share Inclusive and forward moving... CUB: towards card-less withdrawal Secured NCDs from Shriram City Four daughters and a proud father People Flow Day- Safety Striking cords for 25 years… Steel loses its sheen OBO Bettermann for better lightning protection Hero Motocorp - smooth ride Ridley marathon to India Brand leaders come forward... More gensets and diesel engines from TAFE Holiday Inn opens in OMR Chennai AirAsia India infuses funds to fight out competition Schwing Stetter India joins hands with US-based Gomaco Chennai to get a roundabout Metro Climate change may change the way businesses work... Make way for the new and dynamic railways An aerospace-defence cluster in Tamil Nadu… Pharma market dozes Adding Zest to Scooty Economic, business and social sustainability When Centre visits the state Well-refined – RIL’s refinery margins zoom Nigeria comes nearer Blue Star plans a new plant in south Backpack laboratory ISRO's 100th mission Waste, a gold mine Changing dynamics in human resource management Bridging the skill deficit in pharma industry Chola MS launches motor app Is Indian telecom industry heading for a monopoly? TiE applauds innovative entrepreneurs ECGC expands operations Scoot offers just Rs.13,500 to ANZ... TN budget pragmatic and moderate on fiscal deficit BRICS development bank Downsizing spree... Big-ticket investments march towards Punjab Durga - India’s largest blast furnace; now operational Flexible labour laws… Investor friendly Japan The new look- 4s Verna LVB gears to become a financial supermarket Celebrating 180 years of relevance Innovation that helped Chennai port Murugappa- a year of consolidation Time to fast-pace the logistics sector Chennai Port is at last decongested! Three more leather clusters… SumInfra- corridor based development... Business Breif Purdue and IIT-M sign the dotted line ALL – truck industry is recovering from degrowth Housing Innovation Challenge, 2015 Realty sector takes a break... Auto test tracks launched at GARC Oragadam campus WABCO’s second Chennai plant Chennai will soon get its World Trade Centre Creating Tamil Nadu Banana brand Reality bytes Business Briefs Economic issues take a back seat at G20 summit An American alliance in the chemical industry? TII’s single largest investment at Thiruthani ALL to launch electric busses A global plastic event in India Realising double digit growth in Tamil Nadu Celebration time at MS Chola Rating of states to be released soon Smart controls for cooling large multi-zone spaces ... Techies trip to India Focus on self-certification and third party inspection On the ‘milky’ way STFC raises money TII-challenging year with flat growth TCS’ revenues cross Rs 100,000 crore Nothing to hide... Industry-well poised to invest on expansion Indian Bank – global businesses crosses Rs 3 lakh crore... World labour laws at a glance Automotive Vision Plan II... Strategy war escalates between Hero and Honda TOP 10 CEO Compensation Illicit markets a concern to growing economy Research needs more funding Applauding enterprise... Veritas Finance- financing the unfinanced Sun Edison launches solar pumps Hyundai excites again Chola MS net crosses 100 crores Digital retail transactions stabilise at higher level… Airlines wage price war Connecting the unconnected Tata Steel commence operations at Kalinganagar IFCI to raise NCDs upto Rs 2000 crore Apple maps – finding its way -
LVB gears to become a financial supermarket

Turning 89, the Chennai-based Lakshmi Vilas Bank (LVB), has posted impressive results for the half year. With deposits growing at 21 per cent, advances at 28 per cent, the overall growth of 24 per cent and with net NPA at just 1.01 per cent, LVB has grown in business and grown healthily. “Our total business is Rs 40,000 crore,” said A J Vidyasagar, CGM and COO of LVB. The bank has licences to open 60 branches and it has opened 21 so far. “Our new branches, along with our existing offices are contributing to our performance. Our slogan is to be a happy bank,” said Vidyasagar.

To mark the entry into its 90th year, LVB has launched new products to enhance its services. An LVB-SBI co-branded credit card will offer credit card facility to LVB customers. These cards will be accepted at two million outlets worldwide and 285,000 outlets in India alone.  LVB has also unveiled the LVB Mobile. Thanks to the mobile banking app, a customer can transfer funds, enquire on balance, pay bills, request for chequebook...  Another initiative launched was the bancassurance initiative by LVB, joining hands with Cigna TTK Health Insurance. By this customers of LVB will benefit from health care and wellness solutions offered by Cigna TTK. By March, the company expects to do business worth Rs 46,000 crore. LVB has recently raised a tier 2 capital of Rs 140 crore by way of bonds and last year a rights issue helped raise a capital of Rs 400 crore.

Author :
Reported On :
Sector :
Shoulder :
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.
Read more
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
S-15, Industrial Estate,
Chennai - 600 032.
PHONE: +91 44 22501236