Home Credit India (HCIN), a local arm of the internationalconsumer finance provider with operations spanning over Europe and Asia, and committed todrive financial inclusion in India has for the first time tied-up with Karur Vysya Bank (KVB) forjoint lending. The recent RBI guidelines has led the industry to explore partnership avenues inthe new framework with the aim to reach out to the large unbanked customer base.

With the objective of empowering customers, HCIN is committed towards driving creditpenetration and broadening financial inclusion through responsible lending in the country.Keeping in mind the convenience of the customer, under this first of its kind agreement, HomeCredit and KVB will disburse the loan as a single amount to the customer. The uniqueness ofthis partnership is in the end-to-end automated processing by which the customer gets real-timeapproval and disbursement.

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Karur Vysya Bank is opening a new branch at Panjakalipatti, Salem in Tamil Nadu on 04 September 2019.

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Karur Vysya Bank announced that CRISIL has reaffirmed the ratings of certificate of deposit programme of the Bank at CRISIL A1+.

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Net profit of Karur Vysya Bank rose 58.83% to Rs 72.92 crore in the quarter ended June 2019 as against Rs 45.91 crore during the previous quarter ended June 2018. Total Operating Income rose 3.47% to Rs 1492.53 crore in the quarter ended June 2019 as against Rs 1442.53 crore during the previous quarter ended June 2018.

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