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| Franchise | http://www.lvbank.com/contactus.aspx |
Important Notes
No details found.Registered Office
Address : The Lakshmi Vilas Bank Ltd. Salem Road,Kathaparai, Karur - 639006 Tamil Nadu.
Landline Number : 04324 - 220051
Fax Number : 04324 - 223607
Email Address : [email protected]
Corporate Office
Address : The Lakshmi Vilas Bank Ltd. LVB House,4/1, Sardar Patel Road, guindy,Chennai - 600032 Tamil Nadu, INDIA
Toll Free Number : 1800-425-2233
Email Address : [email protected]
Past
Lakshmi Vilas Bank was founded in 1926 by a group of seven progressive businessmen of Karur under the leadership of Shri V.S.N. Ramalinga Chettiar. Their objective was to cater to the financial needs of the people in and around Karur who were occupied in trading businesses, industry and agriculture. The Bank was incorporated on November 3, 1926 under the Indian Companies Act, 1913, and obtained the certificate to commence business on November 10, 1926. Subsequent to introduction of the Banking Regulations Act, 1949 and Reserve Bank of India as the regulator for the banking sector, the Bank obtained its banking license from RBI on 19,June 1958, and on 11, August 1958 it became a ‘scheduled commercial bank’ signifying capability to operate as a full-fledged commercial bank.
Lakshmi Vilas Bank saw considerable expansion of its branch network during the period 1961-65, when the Bank took over nine other banks. From 1974, the bank started expanding the branch network beyond Tamil Nadu to benefit from opportunities in the pan-Indian market. Thus, branches were established in the neighbouring states of Andhra Pradesh, Karnataka and Kerala, important financial centres such as Mumbai, New Delhi and Kolkata as well as in other significant business centres in Maharashtra, Gujarat and Madhya Pradesh. Meanwhile, the Bank attained the status of Authorized Dealer in foreign exchange in 1976 enabling it to provide full range of services to customers engaged in international trade and to overseas travellers. Mechanization was introduced in the Administrative Office as early as 1977, and data processing and computerization began in right earnest in 1993 by the bank’s own in-house team. Implementation of Core Banking Solution (CBS) was started in October 2006, and all of the Bank’s branches were migrated to CBS by March 2008.
What They Are Today
The Bank has witnessed substantial improvement across all business parameters in the past six quarters. Mr. Parthasarathi Mukherjee, with over 33 years of experience in the banking industry, having extensive knowledge in the areas of International Trade & Finance , Integrated Treasury and Corporate Banking had taken charge as MD & CEO from 25-Jan-2016. He was earlier with SBI for 12 years, the largest Public Sector Bank and then for 21 years with Axis Bank. Now the top management team comprises of Mr.Parthasarathi.Muhkerjee, supported by Mr.M.Palaniappan -Chief Financial officer, Mr.AJ. Vidyasagar- CGM & COO and Mr. RM Meenakshi Sundaram - Chief General Manager of Whole Sale Banking and General Managers.
Currently, their operations are spread over a network of 463 branches (plus 7 extension counters) with PAN India presence, supervised by 11 Regional Offices. They have 25 “B” Category Branches. They have 926 ATMs and deployed POS machines at various merchant establishments. Their extensive branch network (60%) in Tamil Nadu, one of the more progressive and industrialized states in the country, provides them a solid market base of business and customers. They are active across the entire spectrum of customer segments - retail, mid-market and corporate. Further taking part in all the Government initiated financial inclusion plans. Through their branches, they offer a host of para-banking products in association with Life and General Insurance companies, mutual funds, stock broking houses, money transfer/ remittance companies, etc. With continuous investments in technology, all of their services are offered on a robust technologically advanced platform.
The Bank’s asset size as on March 31, 2015 was to the tune of Rs.24,705 crores, with total income of Rs.2,498.57 crores. They maintained deposits of over Rs.21964.21 crores with them as on March 31, 2015. The operating profit for the same year was to the extent of Rs.376.44 crores; its growth rate at 21.83% during the year being one of the highest among peer banks. During the Financial year ended 31.3.2015 we made net profit of Rs. 132.29 crs. With the anticipated upturn in the economic condition and revival of profitability of businesses in various sectors, we expect marked improvement in the bank’s profitability in the coming period.
They benchmark their operating standards continuously with the best practices in the banking industry, so as to ensure that their customers always receive services with high level of satisfaction. They take special pride in the fact that they are able to offer personalized services drawing inspiration from their rich heritage, even as they have moved over to the latest in technology. They recognize that they are truly in the business of bringing prosperity to all their stakeholders, and seek continuously to live up to the motto ‘life smiles where LVB serves’.
Vision
To be a sound and dynamic banking entity providing financial services of excellence with pan-India presence.
Mission
To develop a range of quality financial services and products to create value for customers, shareholders and the society; to motivate people to achieve excellence in performance leading to sustained profitable growth and build a vibrant organization.
