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Home / Business News / LVB hires from Citi, ICICI, eyes Rs 20,000 cr balance-sheet

LVB hires from Citi, ICICI, eyes Rs 20,000 cr balance-sheet

South-based private sector Lakshmi Vilas Bank (LVB) has shored-up its top management by inducting two senior personnel from ICICI Bank and Citibank recently even as it is giving the final touches to its plan of entering the home-loans business soon.

business Updated: Jul 04, 2010 11:10 IST
PTI
Hindustantimes

South-based private sector Lakshmi Vilas Bank (LVB) has shored-up its top management by inducting two senior personnel from ICICI Bank and Citibank recently even as it is giving the final touches to its plan of entering the home-loans business soon.

The bank also plans to beef-up its presence by adding 35 more branches to its already existing 271 by end-this fiscal.

"We are strengthening our management bandwidth. We have recently hired Prakash V from ICICI Bank and Rajat Baldi from Citibank and appointed them as Executive Directors," LVB's Managing Director & CEO, K S R Anjaneyulu said.

The bank aims to attain a balance-sheet size of Rs 20,000 crore by end FY 11 and to spearhead and sustain this growth, senior and experienced personnel are needed, he said.

"Presently, our balance-sheet size is Rs 15,000 crore. We aim to grow this to Rs 20,000 crore by end-this fiscal," the LVB Chief said.

As a part of its growth plans, the bank is eyeing the home-finance business and plans to set-up a subsidiary for the purpose. "We might look at roping-in a partner for this business," he said.

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