Karur Vysya Bank Targets Expansion with 100 New Branches

Karur Vysya Bank aims to open 100 new branches nationwide in the current financial year. The bank recently inaugurated its 840th branch in Ayodhya, and recorded its highest-ever annual net profit of Rs 1,605 crore. The initiative emphasizes growth, asset quality, and profitability.

Private sector Karur Vysya Bank has set a target of opening 100 new branches during the current financial year across the country, a top official said on Wednesday.

The Tamil Nadu-based bank's 840th branch in Ayodhya was inaugurated by the bank's Chairperson Meena Hemchandra.

Karur Vysya Bank Managing Director and CEO B Ramesh Babu said the bank had opened 39 branches during the current financial year and proposes to add about 100 new branches across the country during the period.

In a statement, here, Babu said the bank recorded the highest-ever annual net profit of Rs 1,605 crore in the last financial year while the net Non-Performing Assets (NPA) were at 0.40 per cent as on March 31, 2024.

''The bank continues its strong growth momentum, consistency in asset quality and profitability,'' he said.

Babu along with Directors of the Bank Sarvashri K S Ravichandran, R Ramkumar and K G Mohan were present at the inauguration of the new branch in Uttar Pradesh, which is also the 35th branch in Delhi division, the statement added.

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