Aug 10: Private sector lender Laksmi Vilas Bank has lined up new specialized branches, known as “Commercial Banking Branches”, at specified centers across the country to handle the entire post sanction credit operations pertaining to Corporate and MSME Segment.
The bank said that this would further ensure optimum use of limited resource of skilled staff, standardization of systems and processes across the Bank and efficient monitoring and control of non-retail advances centrally which would relieve the branches from credit and related operations. These Commercial Banking Branches will be designated as “B Category” Branches.
Looking to cater to the banking requirements of large corporates, small and medium enterprises and government undertakings, private sector lender Lakshmi Vilas Bank has commenced commercial banking operations at Teynampet in Chennai.
According to a bank statement, the commercial banking business will offer a comprehensive portfolio of banking products and services to Small and Medium Enterprises (SME) engaged in manufacturing, trading, services and export businesses. The bank also offers small ticket gold loans and business loans. Activities relating to post sanction credit administration and monitoring of non-retail advances under Corporate Segment and MSME Segment would be undertaken at the new branch.
Mukherjee, MD & CEO, Lakshmi Vilas Bank said, “the Bank has undertaken an initiative to centralize the entire credit operations with a clear focus to bring about growth in business along with maintaining the health of the credit portfolio. What we aspire to build is a culture of commercial banking that facilitates progress and delivers wealth across social and income groups. Our ultimate aim is to uplift the livelihood of all Indians. We will also focus on corporate customers and hope to revolutionize the manner in which banking in India is perceived by differentiating on the quality we offer our corporate customers. We will offer services based on their convenience and customized in line with their needs”.
Lakshmi Vilas Bank has a national presence serving over 2 million customer accounts through its 509 branches.