Karur Vysya Bank sets up 800th branch

Chennai: Private sector Karur Vysya Bank on Monday under its expansion drive inaugurated its 800th branch in the city, a top official said.

The Tamil Nadu-based lender also inaugurated its digital banking unit on the occasion. "We are delighted to inaugurate our 800th branch and other new branches today, which will provide our customers improved access and proximity to the bank's services," the bank's managing director and CEO B Ramesh Babu said in a statement. TVS Capital Funds Chairman Gopal Srinivasan formally inaugurated the 800th branch in Anna Nagar East, Chennai today.

The first Digital Banking Unit (DBU) works completely on digital mode and customers would be able to open their savings account, get their welcome kit along with debit cards and can also apply for retail loans. On the unveiling of digital banking unit, Babu said, it is yet another initiative that would not only enhance customer experience but also be environment friendly which is a core focus area of the bank's corporate social responsibility initiatives.

Karur Vysya Bank also inaugurated six new branches in Tamil Nadu and one each in Telangana and Andhra Pradesh. The bank's total business stood at Rs 1,40,806 crore as on March 31, 2023. It recorded the highest ever four digit net profit of Rs 1,106.09 crore in the last financial year, the statement added.