Lakshmi Vilas Bank Ltd

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Lakshmi Vilas Bank Ltd is one of the well known private sector banks in India. It offers an array of banking and financial solutions for the customers in a dedicated and professional manner. Due to its high quality facilities and services, Lakshmi Vilas Bank Ltd has become a known name in the Indian banking industry and the customer is steadily increasing over the years.

Growth of Lakshmi Vilas Bank Ltd

Lakshmi Vilas Bank Ltd was established way back in the year 1926 by a group of people from the region of Karur under the managerial post of Mr. V.S.N. Ramalinga Chettiar. The main aim of the bank was to provide financial support to the various segments of the society. In the month of November in 1926, the bank was covered under the Indian Companies Act, 1913. Some days later, it was given the permission to start the business. In the year 1958, the Reserve Bank of India granted it the license and incorporated it into a Scheduled Commercial Bank.

It was in the year 1961 that the Lakshmi Vilas Bank started to increase its branches to various parts of the country. It opened branches in various states like Karnataka, Andhra Pradesh, Maharashtra, Kerala, Gujarat, Pondicherry, West Bengal, Gujarat, Delhi, and Uttar Pradesh. Since then, the bank is steadily adding to its expertise and services. Today, it has a vast network of around 249 branches across 14 states. There are around 6 extension counters and 3 satellite branches.

According to recent surveys, the business of Lakshmi Vilas Bank Ltd amounts to around ` 12,606 crore with a net profit of around ` 50.30 crore. The amount of the net owned fund is around ` 453.70 crore with the loan asset rate of around 1.24%. Due to the increase in the market base, the profits are expected to rise significantly over the next few years.

Products and services of Lakshmi Vilas Bank Ltd

The main focus of the Lakshmi Vilas Bank Ltd is to provide absolute customer satisfaction by providing high class banking and financial services. To keep pace with the changing tends in the market; the bank has come up with new services such as retail banking, insurance, corporate banking and so on.

The headquarters of the bank is located in Tamil Nadu and it coordinates the operations and services of the bank. The loan services of the bank are known for providing short term and long term financial support. Some of the well known loan schemes that are offered by the bank are:

  • Lakshmi Home Loan
  • Lakshmi Car Loan
  • Lakshmi Swarna Abarana Loan
  • Lakshmi Multipurpose Loan
  • Lakshmi Business Credit
  • Lakshmi Professional Credit
  • Lakshmi Home Comfort Loan
  • Lakshmi Start-up Professional Loan
The loan services that are offered by the bank cater to the short term as well as long term needs and preferences of the customers. The rate of interest is also affordable and the period of payment is also convenient.

Lakshmi Vilas Bank Ltd is also a trusted name in the segment of insurance. The bank provides a number of insurance benefits for housing, automobiles, health care and other aspects of lifestyle. The insurance coverage has always been convenient and fulfills the needs of the customers. Some of the popular insurance products and schemes that are offered include:
  • Pension Plus service
  • Easy Life Plus plan
  • Secure Life plan
  • Amar Suraksham plan
  • Life Bond premium insurance plan
The Lakshmi Vilas Bank Ltd also offers high quality credit services through its Lakshmi Vilas Bank Credit Card scheme. Usually, the bank offers two types of credit cards to the customers, namely the general credit card and the Lakshmi Kisan Credit Card. The former has a tie up with Canara Bank while the later provides short term credit to the farmers for the purchase of farming equipments.

To cater to the Non Resident Indians, the Lakshmi Vilas Bank offers a number of facilities and services such as:

  • RFC Deposit services
  • NRE Deposit services
  • FCNR (B) Deposit services

Lakshmi Vilas Bank Informational Data

Name of Bank Lakshmi Vilas Bank
No. of Offices 247
No. of Employees 2433
Business per Employee (in ` Lakh) 510.00
Profit per Employee (in ` Lakh) 2.07
Interest Income (in ` Crore) 658
Other Income (in ` Crore) 107
Interest Expended (in ` Crore) 504
Operating Expenses (in ` Crore) 152
Return on Assets 0.71
CRAR 10.09
Net NPA Ratio 1.24