Lakshmi Vilas Bank (LVB), the private sector lender is reportedly planning to double its net profit this year. The bank is planning to achieve its targets by focusing on low-cost deposits which would cut out interest outgo, realise non-performing assets (NPA) that were written off, and writing back the reserves. Besides, the bank is also planning to increase its non-interest income by selling more insurance policies of Life Insurance Corporation (LIC) and Bajaj Allianz General Insurance.
Lakshmi Vilas Bank currently has a network of 362 branches (with 8 extension counters), spread over 15 states and the union territory of Puducherry. The bank’s focus is on customer delight, by maintaining high standards of customer service and amidst all these new challenges.
