Karur Vysya Bank (KVB), which has embarked on an ambitious re-engineering plan, will continue to adopt traditional banking approach to deliver modern products, Managing Director and Chief Executive Officer K. Venkataraman said here on Saturday.
Addressing a press conference, Mr. Venkataraman said that the bank was poised on a higher growth trajectory and at present it was engaged in a re-engineering of business process. Based on the recommendations of a consultant, the bank had initiated a process of strengthening organisational structure, building up internal systems and finetuning existing products. It was also redefining its focus on specific products such as housing loans. The CEO was confident that the transformation in a few years would be smooth and customers would have a different experience at KVB's branches.
Mr. Venkataraman said that the bank was not inclined to change its business model but was keen to adapt to the needs of the market. Since the bank, founded in 1916, had a strong foundation, the new look would be a value addition. He felt that competition in the banking sector would be an advantage as it would bring with it new technologies and models.
The bank had 401 branches now, with 50 per cent of them outside Tamil Nadu, and it planned to open 35 more in a few months on its march towards the goal of having 800 branches during its centenary year, 2016.
