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H1 Net Profit of Lakshmi Vilas Bank Up by 91.22% to Rs. 59.66 Crs.Gross NPA Reduced by 150 Basis Points, From 5.22% to 3.72%, Y-o-Y. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
India Lakshmi Vilas Bank (LVB), a private sector Bank in its transformational journey, has come out with impressive results for the period ended 30th September 2014.
Quality of Assets: The asset quality of the bank has improved by reducing the Gross NPA by 150 bps from 5.22% as on 30th Sep 2013 to 3.72% as on 30th Sep 2014. The Net NPA of the bank down by 99 bps on Year – on Year basis.
Business: CASA portfolio of the bank has grown by 27.57% from Rs. 2373.64 Crs to Rs. 3027.97 Crs, Y-o-Y. Total Deposits rose from Rs.16455.45 Crs to Rs. 19314.88 Crs registering Y-o-Y growth of 17.38%. Credit portfolio expanded from Rs.12332.77 Crs to Rs. 13724.32 Crs with a Y-o-Y growth of 11.28%. The Total Business Mix improved to `33039.20 Crs from Rs. 28788.22 Crs, increased by 14.77% year on year basis.
Profitability: Net profit increased by 438.46%, to Rs. 31.50 Crs as on 30th Sep 2014 from Rs. 5.85 Crs during the corresponding quarter of previous year. Operating Profit up by 26.45% as of 30th Sep 2014 compared to the same period of last year. Net Interest Income of the bank recorded a Year on Year growth of 12.67% as it improved from Rs. 119.01 Crs in Q2 of FY14 to Rs. 134.08 Crs in Q2 of FY15.
Performance for the quarter ended 30th Sep 2014 Vs quarter ended 30th Sep 2013
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Bird’s eye view of Working Results Rs. In lacs
The Bank has a national presence serving over 2.46 million satisfied customers through its 361 branches, spread across 15 States and 1 Union Territory. The bank has a network of 641 ATMs. The Bank continues to invest behind its network for improved reach and customer service. The limited, reviewed unaudited financial results for the first Half Year of the current fiscal were taken on record by the Board in its meeting held on 17.10.2014 at Chennai.
About Lakshmi Vilas Bank: Lakshmi Vilas Bank is founded in 1926 and it has a national presence serving over 2 million customers through its 361 branches spread across 15 states and one Union territory, and total ATM network of 636 as on 31.08.2014. The bank continues to invest on increasing its network for improved reach and customer services.
The bank is active across the entire spectrum of customer segments - retail, mid-market and corporate. Through its branches, the bank also offers a host of para-banking products in association with Life and General Insurance companies, mutual funds, stock broking houses, money remittance companies, etc. on a technologically advanced platform.
For further information, please contact: Sumit Singh Jamwal / Namita Sharma Adfactors PR Pvt. Ltd. Tel: +91-11-67574444 |
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