Reported by: banking|Updated: August 10, 2017
Lakshmi Vilas Bank has opened a branch in Chennai, which is intended to cater to the requirements of corporates only. The bank is aiming to attend to the requirements of the business community in a better manner. The bank said the new branch would cater to the needs of large corporates, MSMEs and government undertakings and will offer trade finance and small ticket gold loans. The bank plans to open six more such branches in metros including Bengaluru and Mumbai by the end of the next year. Parthasarathi Mukherjee, MD and CEO of the bank, said these branches will be designated as B category branches and the intention is to transform the bank from a regional bank to a pan-India bank. The bank will now open an exclusive wealth management division targeting HNIs, said ED N S Venkatesh.