Karur Vysya Bank Targets Nationwide Growth, To Open 100 Branches This Fiscal Year

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 were at 0.40% 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.