Karur Vysya Bank innaugurates 800th branch in Chennai

Karur Vysya Bank

Private sector Karur Vysya Bank innaugurated its 800th brand in Chennai, on Monday, a top official said. The bank 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.

Gopal Srinivasan, Chairman of TVS Capital Funds, formally inaugurated the 800th branch in Anna Nagar East, Chennai.

The first Digital Banking Unit (DBU) operates entirely online, allowing consumers to open savings accounts, receive welcome kits, debit cards, and apply for retail loans.

Ramesh Babu stated that the launch of the digital banking unit is yet another move that would not only improve customer experience but will also be environmentally friendly, which is a key emphasis area of the bank’s corporate social responsibility programmes.

Karur Vysya Bank also opened six additional branches in Tamil Nadu, as well as one in Telangana and one in Andhra Pradesh.

As of March 31, 2023, the bank’s overall business amounted at Rs 1,40,806 crore. According to the statement, it earned the highest four-digit net profit of Rs 1,106.09 crore in the previous fiscal year.

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