Chennai: Private sector Lakshmi Vilas Bank on Wednesday inaugurated its first commercial banking branch here, targeted at serving large corporates and small and medium enterprises.
"The commercial banking business will offer a comprehensive portfolio of banking products and services to small and medium enterprises engaged in manufacturing, trading and export businesses," a bank statement said.
The bank plans to set up Commercial Banking branches at specified centres across the country to handle the entire post sanction credit operations. "We are on the path of high growth trajectory and are in the process of transforming the bank from the image of a regional bank to a pan India bank", the banks MD and CEO, P Mukherjee said after inaugurating the branch.
"The bank has taken several initiatives and one such initiative is to centralise the entire credit operations with a clear focus to bring about growth in business.", he said.
The commercial banking branches will be designated as "B Category" branches and would further ensure optimum use of limited resource of skilled staff, standardisation of systems and processes across the bank, the statement added.
