September 8, 2017
Lakshmi Vilas Bank was awarded the Best Private Sector Bank – Priority Sector Lending (Excluding Agriculture) yesterday at Dun and Bradstreet – Banking Awards 2017. AJ Vidyasagar, President Retail, Lakshmi Vilas Bank received the award.
The award was for its consistent loan services in the Micro, Small and Medium Scale Enterprises (MSME). According to a bank statement, LVB has a MSME loan book over Rs 5,600cr, of which 87 per cent comes from the South. The bank is targeting an MSME loan book of Rs10,000 crore by 2020.
The bank recently inaugurated its first specialized commercial banking branch in Chennai to handle post sanction credit operations for corporate and MSME segments.
Vidyasagar said, “We are honoured to receive this prestigious recognition. It has been our endeavour to bring the unbanked and under-banked populace into operational banking sector. “
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