Karur Vysya Bank Limited — Updates, 11-12-2024: Press Release

Karur Vysya Bank has inaugurated four new branches in Tamil Nadu, increasing its total branch network to 862. This expansion is part of the bank's strategy to enhance its banking services, offering a range of products including accounts, deposits, loans, and locker facilities. In the current financial year, KVB has added 24 branches, reflecting its commitment to growth.

The new branches are located in Madurai, Tirupur, Krishnagiri, and Chennai. These locations will support basic banking transactions and cater to the specific needs of customers, enhancing their access to retail, institutional, and consumer lending services. KVB also emphasizes its digital offerings with upgraded Internet and mobile banking solutions through its KVB DLite app, which boasts over 150 features for customer convenience.

The bank's total business reached ₹1,76,138 crore, with a solid deposit base of ₹95,839 crore and advances of ₹80,299 crore. KVB posted a net profit of ₹1,605 crore in the previous fiscal year, with ₹932 crore for the first half of this fiscal, indicating robust financial health. The low net NPA of 0.28% underscores its asset quality. This expansion signals a positive outlook for KVB, positioning it well for future growth.