KVB's total business to touch Rs 17,500 cr: Chairman

Tiruchirapalli, Mar 8 (UNI) The Karur Vysya Bank Limited (KVB), a leading private sector bank, would touch a business of Rs 17,000 to Rs 17,500 crore before the end of this fiscal, Bank Chairman P T Kuppuswamy said.

Talking to newspersons here today, Mr Kuppuswamy said the target for the current year was only Rs 15,753 crore. However, the bank had netted Rs 16,700 crore business by January end with the opening of 27 new branches.

Of the new 27 branches, 20 were opened in north and western regions of the country, paving way for garnering substantial business volume.

The bank would set up 300 more branches before the close of next financial year and had obtained licences from the Reserve Bank of India in this regard.

Mr Kuppuswamy also launched the bank's new product 'KVB 600 Deposit Scheme' offering ten per cent interest to the deposits of senior citizens for a minimum period of 600 days.

He said a new Division, with Tiruchirapalli as headquarter, to be carved out of the present Salem and Chennai Division, would be operative in two months.

UNI