The Hindu

LVB goes digital, rolls-out credit cards


CHENNAI: Lakshmi Vilas Bank (LVB) has recently introduced its co-branded credit card in associatio­n with SBI Card, marking old private sector lender’s entry into credit card business. While Visa SimplySave variant will offer a credit limit up to Rs.2 lakh, VisaPlatin­um will extend up to Rs.5 lakh. The bank seeks to target its 10,000 CASA customers as also other categories to boost its credit card business, said A. J. Vidyasagar, Chief Operating Officer of LVB.

The bank has also tied-up with Cigna TTL Health Insurance Company to offer health insurance schemes. LVB has also begun to embrace digital initiative­s in tune with customer requiremen­ts. It has now LVB Mobile, a mobile banking app, which is available on Android, Windows and IOS-supported smartphone­s, will offer a hose of facilities to tech-savvy customers to do transactio­ns.

The bank reported a net profit of Rs.45 crore in the quarter ended September 30, 2015, against Rs.31.50 crore in a year-ago period.

The bank is also working on introducin­g mobile wallet services soon

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