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Lakshmi Vilas Bank to focus on MSME business

Lakshmi Vilas Bank is proposing to give more weightage to its MSME business and aims to target a loan book of Rs 10,000 crore by 2020. The bank has engaged consulting agency McKinsey to advise it on strengthening this business. The bank has Rs5660 crore MSME business as of now and most of the loan disbursals are in the southern states. Parthasarathi Mukherjee, MD and CEO of the bank, said the bank aims to gain market share and better connect with its clients not only for their funding requirement but also offer other solutions such as risk advisory, insurance, forex solutions, etc. He said the bank has exposure to a wide range of SMEs but being a South India-focused bank, most of the clientele is from the textile sector.

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