Karur Vysya Bank extends CSR support to integrated Geriatric & Palliative care facility

Chennai: Karur Vysya Bank has extended support as a part of its CSR initiative to an integrated geriatric and palliative care facility at Visakhapatnam.  A sum of Rs. 1.60 crores has been sanctioned to Sneha Sandhiya Age Care Foundation towards the construction of a block to care for the elderly and terminally ill patients.

Shri B Ramesh Babu, MD & CEO of Karur Vysya Bank handed over a demand draft for a sum of Rs. 50 lakhs to the Trustees of Sneha Sandhiya Age Care Foundation. This is the second tranche of funds released to the Foundation. The first tranche of Rs. 24 lakhs was released in March 2023.

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Speaking on the occasion  Shri Ramesh Babu said, "There are few institutions that offer shelter to senior citizens and the seriously ill patients in times when they require all the care and comfort.  I am glad that Sneha Sandhya Age Care Foundation is offering this facility. KVB is happy to support this noble cause as part of it's CSR initiative.  I commend the work of the trustees,  doctors and staff of the Foundation."

A 100+ bed hospital is under construction at Gambheeram, Visakhapatnam. Geriatric care for elders will include outpatient clinics, Rehabilitation Care, Respite Care, Transitional Care, Long Term Care and Dementia Care.  Palliative care will include Home Care, Institutional Care and End of Life Care.  The facility will be made available to several people of vulnerable sections, free of cost. 

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The final tranche of Rs. 86 lakhs is earmarked for essential medical equipment and will be released once the construction is fully complete. 

About Karur Vysya Bank:  Karur Vysya Bank has touch points in the form of 808 branches and 2230+ ATMs & cash recyclers. The Bank has built its financials around three pillars – Growth, Profitability and Asset Quality.  

The bank’s total business was Rs. 1,40,806 crores as on 31.03.2023 with a deposit base of Rs. 76,638 cr. and advances at Rs. 64,168 cr.  The bank posted the highest first ever four digit net profit of Rs. 1,106.09 cr. last financial year.

Other key financial ratios include ROA – 1.27%, NIM – 4.18%, Net NPA – 0.74%, PCR – 92.14% and slippage ratio – 0.75%.  

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