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Lakshmi
Vilas Bank
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 |
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Type
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Public
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Trade As
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BSE:
590069
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Industry
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Banking
Financial
services
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Founded
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1926
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Headquarters
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Karur,
India
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Key
people
|
S.
Narayan
(Chairman) P.R. Somasundaram (MD & CEO) |
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Products
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Investment
Banking
Commercial
Banking
Retail
Banking
Private
Banking
Asset
Management
Mortgages
Credit
Cards
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Employees
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1,600
(2010)
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Website
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The Lakshmi Vilas Bank Limited (LVB) was
founded in 1926 by seven people of Karur under the leadership of Shri V.S.N.
Ramalinga Chettiar, mainly to cater to the financial needs of varied customer
segments. The bank was incorporated on November 03, 1926 under the Indian
Companies Act, 1913 and obtained the certificate to commence business on
November 10, 1926, The Bank obtained its license from RBI in June 1958 and in
August 1958 it became a Scheduled Commercial Bank.
During
1961-65 LVB took over nine Banks and raised its branch network considerably. To
meet the emerging challenges in the competitive business world, the bank
started expanding its boundaries beyond Tamil Nadu from 1974 by opening
branches in the neighboring states of Andhra Pradesh, Karnataka, Kerala,
Maharashtra, Madhya Pradesh, Gujarat, West Bengal, Uttar Pradesh, Delhi and
Pondicherry. Mechanization was introduced in the Head office of the Bank as
early as 1977. At present, with a network of 273 branches,1 satellite branch
and 8 extension counters, spread over 16 states and the union territory of
Pondicherry. LVB has a base in the state of Tamil Nadu. LVB has been focusing
on retail banking, corporate banking and bank assurance.
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