LVB targets Rs 10,000 crore business this fiscal

Tiruchirapalli, Sep 25 (UNI) The Lakshmi Vilas Bank (LVB) has set itself a target of Rs 10,000 crore business in the current fiscal and will introduce new schemes and products to acheive the same, its Chairman and Chief Executive Officer (CEO) R M Nayak said.

Talking to newsmen here, after inaugurating the bank's new main branch, Mr Nayak said to achieve the target, the bank would add new branches, introduce new products and recovery of Non Performing Assets (NPA).

The bank would open 20 new branches during this fiscal.

Mr Nayak said the bank had shown a total business of Rs 7289.20 crore at the beginning of this fiscal compared to Rs 5813.64 crore in the same period previous year.

About 65 branches in smaller towns and semi-urban areas would be covered under Core Banking System, he said.

He said the bank plans to come out with an unique project to cater to the needs of the rural folks particularly Women's Self Help Groups.

Already, eight villages in Karur District of Tamil Nadu had been identified for the project, he added.

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