LKB register 33 per cent growth
Our Banking Bureau
16 May 2004

Kochi: The Lord Krishna Bank, a Kerala-based privet sector bank, has registered a business growth of 33 per cent during 2003-04 fiscal.

The total deposit of the bank registered a growth of 39 per cent during the year, from Rs 1,663 crore to Rs 2,311 crore. This was stated by, R M Nayak, managing director and chief executive officer of the bank.

Advances of the bank also registered a rise of 22 per cent during the
fiscal, from Rs 941 crore to Rs 1146 crore.

The bank, which has 106 branches spread across 11 states and union territory
of Chandigarh, was planning to open more fully automated branches, he said.
LKB has opened 10 branches during the fiscal and holds licence for opening
eight more during the current fiscal, Nayak disclosed.

With a view to ensure more services to NRI customers, the bank has tied up with
Western Union for quick money transfer for NRIs. LKB had also entered into rupee drawing arrangement with well-known exchange house, he added.

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