A recent press report said that Karur Vyasya Bank (KVB), the oldest private sector bank is on a revamp to fit into the new age. Mr. M.Venkataraman, Managing Director and Chief Executive Officer of the Bank said that the bank has undertaken a business re-engineering exercise and has developed a consistent customer relationship model.
He also said that the bank has engaged Boston Consultant Group for the purpose and has embarked upon strengthening the organization’s internal structure, building systems and controls and fine-tuning the existing products to reach the customers on market driven terms.
Mr. M.Venkataraman said that home loans which were not attractive earlier has now been made customer-friendly and that the traditional banking approach is blended with modern technology to deliver new products and services. He also said that a co-branded credit card with State Bank of India will be launched shortly.
He said that the bank’s business was at Rs 47,000 crore, with a deposit base of Rs 27,000 crore and advance to the tune of Rs 20,000 crore . The loan portfolio of the bank includes home loan, personal loans, vehicle loans, mortgage loans, education loan etc.