Lakshmi Vilas Bank, Clix completing due diligence on proposed deal

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New Delhi, Sep 16 | Lakshmi Vilas Bank and Clix Group have substantially completed the due diligence on a proposed amalgamation of the financial services company with the bank.

In June, Lakshmi Vilas bank had signed a preliminary, non-binding letter of intent (LoI) with Clix Capital Services Private Limited and Clix Finance India Private Limited, collectively the Clix Group, in relation to the proposed amalgamation of Clix Group with the Bank.

Under the non-binding LoI, the proposed amalgamation is subject to completion of mutual due-diligence, regulatory and other customary approvals.

The bank had informed the exchanges in July that, as per the mutual understanding between parties, the exclusivity period was extended till September 15 due to the prevailing pandemic situation.

“We wish to inform that the mutual due diligence is substantially complete, and the parties are in discussions on the next steps. The Bank will continue to share any further information as and when they materialise,” LVB informed the exchanges.

Clix Capital had acquired GE Capital’s commercial lending and leasing business in 2016. Pramod Bhasin, formerly of Genpact and GE Capital, is Founder and Chairman of Clix.

Chennai-based Lakshmi Vilas Bnak continues to have significant presence in the state of Tamil Nadu. The bank has presence in 16 states and 3 Union Territories across the country.

The bank was founded in 1926 by a group of seven progressive businessmen in Karur under the leadership of V.S.N. Ramalinga Chettiar.

Source: IANS

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Policybazaar Unveils its new brand campaign "AapKiSideHai"

Policybazaar Unveils its new brand campaign

Akshay Kumar delivers the brand’s promise of always being on the customer’s side

Gurugram, 19th Sept, 2020: Policybazaar.com (Twitter handle: PolicyBazaar), India’s largest online insurance marketplace with over 10 million customers, showcases its commitment to customers in its new television campaign “AapKiSideHai”. The new ad campaign featuring Policybazaar brand ambassador, Akshay Kumar, highlights the brand’s promise of embracing a holistic customer centric approach while helping to bridge the insurance protection gap in India.

Policybazaar’sAapKiSideHai campaign seeks to reassure its customers on being a dependable Insurance partner for them, every step of the way. The brand has always focused on distributing products like term insurance, health insurance, zero commission ULIP’s and motor insurance that are optimal from a customer perspective. Policybazaar is now extending the brand promise beyond the purchase experience to ensure that consumers get the highest levels of service throughout the policy lifecycle.

The new brand campaign reinforces Policybazaar core value of putting the customer first by delivering on its promise of providing a trusted platform for all types of insurance products. The brand is committed to guiding the customer throughout the insurance journey, starting from recommending the right products at affordable pricing, ensuring thatthe policy issuance process is smooth and fast, and, to providing services and claims assistance when needed.

“While we continue to highlight the importance of Health & Term life Insurance through our marketing campaigns, with the brand promise of Policybazaar AapKiSideHai, we also intend to position Policybazaar as a customer centric brand, that is committed to stand by its customers, both pre and post purchase”, said Samir Sethi, Head of Brand Marketing, Policybazaar.com. The new ad series highlights Policybazaar’s unparalleled support to customers, while providing them with the ease of comparing and buying term and health plans online with guidance at each & every step.

Speaking about the TVC launch, Sharat Dhall, Chief Operating Officer, Policybazaar.com said, “Our ultimate aim is to provide 360-degree assistance to customers that starts from when the policy is bought, to provide assistance when the claim is paid out, should such a situation arise. Winning and maintaining customer trust is a strong ethos within the company and this campaign reflects that. At a time when the world is grappling with a crisis like no other, the brand intends to instill confidence in the customers’ buying decisions by assuring them protection of their futures with the right insurance products & thorough assistance throughout the journey.”

The new brand campaign in its series displays moments of indecision that people may have while investing in protection products. It addresses these queries &emphasizes the importance of nurturing a bond with the consumers thereby creating customer delight.

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