Lakshmi Vilas Bank sees the blocking of Indiabulls amalgamation with it by the RBI as bringing uncertainty to an end.
He said, this brought an end to the recent uncertainty and the Bank would continue to work towards raising capital as per the permitted modes in compliance with all applicable Acts and Regulations.
“LVB with legacy of more than nine decades and strong/loyal client base with deposit book close to Rs 26,000 cr has successfully served three generation of clients and while we assure our best services to our clients, we are committed stakeholders’ growth and creating value,” he said.
Noting that the bank had started its journey in 1926, Sundar said “the bank has witnessed lot of business cycles punctuated with booms and recession. LVB continues to stand resilient and stronger as always. LVB was on early adopter of technology during 1980s onwards providing prompt customer service. LVB achieved considerable expansion of branches between 1961-65, when we took over nine other banks. In 974 we expansion outside Tamil Nadu and today we have 57 Branches including seven CBBs and 1045 ATMs spread all across country and will work towards growth every day.”