Lakshmi Vilas bank has received permission from the Reserve Bank of India to open 71 more branches. The new permission allows the bank to open branches in Metro, urban, semi-urban and rural centres.
At present, Lakshmi Vilas bank is serving a customer base of over 2 million through a network of 291 branches as on December 31, 2012. The bank also has 627 ATMs of its own.
Welcoming the RBI's approval, Mr. K.S.R. Anjaneyulu, MD & CEO (interim), Lakshmi Vilas Bank said, "This new set of licenses to open 71 new branches will help the bank in expanding its reach substantially. The expanded network of branches will assist the bank in reaching out to newer demographics.
The Bank has a national presence serving over 2 million customers through its 291 branches, spread across 15 States and 1 Union Territory, and having added more than 300 new ATMs during the FY 2011-12 and has now a total ATM network of 627. The Bank continues to invest on increasing its network for improved reach and customer service. Its shares are already listed on NSE and BSE.