A recent press report said that Karur Vysya Bank is focussing more on NRI deposits, Home loan. Mr.K.Venkatraman, Chief Executive and Managing Director of karur Vysya bank said that the process of building this institution will continue. The bank will build on our strength, look at products and structural gaps that need to be addressed we move on.
The report also said that the bank is targeting a network of 800 branches by 2016, when it would be celebrating its centenary year. The branch network stands at 372 at present. Further the KVB chief said that this increase in network needs huge levels of scale, increased product focus and profitability as we scale up. This should happen in a scenario where competition is intense.
When asked about its 2016 business target of Rs 125,000 crore, he seemed quite positive about achieve this target and added that the present level of operation would not take the bank to that height. Further he also said that the bank will take a prudent approach without altering the characteristic of the bank, become more aggressive without compromising on the quality of asset. Margins might shrink, but the bank will not let this impact the asset quality.