Lakshmi Vilas Bank (LVB), the private sector lender, has entered into a 5-year strategic tie-up with Max Life Insurance for distribution of life insurance products through the bank's 400 branches across the country. As per the tie-up, LVB has become a corporate agent for Max Life Insurance and will offer a complete bouquet of life insurance solutions and post-sales services to its customers. The tie up will help Max Life Insurance reach out to an additional 25 lakh customers of LVB and strengthen its multi-channel distribution network, primarily in southern part of the country, where LVB has a strong presence.
Lakshmi Vilas Bank has reported over four fold jump in its net profit at Rs 32.56 crore for third quarter ended December 31, 2014 as compared to Rs 7.42 crore for the same quarter in the previous year. Total income of the bank has increased 14.97% at Rs 635.36 crore for Q3FY15 as compared Rs 552.63 crore for the corresponding quarter previous year
