KVB to tweak model of business: MD Babu

logo class24
Class24
Best Online Coaching Platform

Private sector lender Karur Vysya Bank Ltd. (KVB) has started making changes to the model of business to sustain growth, MD & CEO B. Ramesh Babu said.

“We are a 106-year-old bank and have been paying dividends continuously, except for the COVID-19 year due to a RBI advisory,” Mr. Babu told the media. “For the last two years, we have started making changes to asset and liability sides.”

“Earlier, only the branch used to be the main channel for mobilising loans or deposits,” he said.

“Now, we have created a retail liability sales force for mobilising current and savings accounts.

Named ‘Feet On Street,’ the bank, on a pilot basis, has employed 500 people in the last three months with plans to recruit 800 more in 18 months. Their main responsibility would be acquiring new accounts, servicing existing customers and making recoveries.

For FY24, KVB is aiming at a growth of more than 14% in credit and deposits and maintain net interest margin at more than 4%.

The Hindu

(National)

As always, if you have any questions or feedback, we’d love to hear from you. You can reach us on support@class24.study or

Call support - +91 78498 41445,+91 83029 72601,+91 78775 18210

Let's connect with CLASS24

🚀  Download the Class24 App here:

🚀  Telegram Link:

🚀  Facebook Link:

🚀  Instagram Link:

🚀  Twitter Link:

🚀  YouTube Link:

🚀 Youtube channels SSC

🚀  Class24 ā¤†ā¤Ēā¤ŖāĨ‹ ā¤°ā¤žā¤œā¤¸āĨā¤Ĩā¤žā¤¨

🚀  Class24 RAS

Related ArticleBest Online learning platform in India