Branches continue to play key role despite rise of digital banking: KVB MD Ramesh Babu
Karur Vysya Bank (KVB) has expanded its physical branch network by 16 new locations, emphasizing the continued importance of in-person banking for retail and MSME customers. The bank aims to balance physical presence with its growing digital service offerings.
Why it matters
The expansion reflects a strategic hybrid model in the banking sector, countering the trend of total digitalization.
Branches continue to play an important role, particularly for retail, agricultural and MSME customers, despite digital banking making everyday transactions easier, Karur Vysya Bank Managing Director and CEO Ramesh Babu said after opening 16 new branches on Monday.
“We continue to expand our branch network in markets where we see good business potential and an opportunity to deepen relationship with customers. The new branches will help us get closer to customers and offer them the convenience of both personalised service and digital banking,” he said opening the branch in Hyderabad’s Gachibowli and the rest virtually.
The new facilities are in Tamil Nadu, Telangana, Andhra Pradesh, Karnataka and Delhi NCR and take KVB’s nationwide branch network to 919. The expansion is part of its strategy to deepen presence across metropolitan, urban, semi-urban and rural markets, the private sector bank said in a release.
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