The Karur Vysya Bank (KVB) opened 10 new branches and expanded its ATM network by 50, across the country on Saturday. The new branches included New Chandapur (Karnataka), Vanasthalipuram in Hyderabad, Saidapet in Chennai, Vuyyuru at Andhra Pradesh, Gugai in Salem and Panruti. Secretary, Department of Economic Affairs, Union Ministry of Finance, R. Gopalan, declared open the bank's new branch at Connaught Circus in New Delhi.
With the Saturday's additions the KVB's branch network has increased to 386 and the ATM network to 583, according to a press release issued here by the KVB Managing Director and Chief Executive Officer K. Venkataraman.The KVB was on the path of installing more ATMs and opening new branches across the country. By the end of the current month, the bank hoped to have 400 branches and 600 ATMs, he said.
The bank has bagged the CNBC – TV 18 Best Bank & Financial Institution Award, 2011, under the old private sector bank category followed by the FIBAC Banking award 2011 for Best Cost Efficient Bank among Private Sector Banks and also the Banking Technology Excellence Award 2011 for being adjudged the Best Bank for Mobile Banking among Small Banks.