Lakshmi Vilas Home Loan News - Apr 2021
- 2020-07-30 : Lakshmi Vilas Bank reported a net loss of Rs 112 crore
Lakshmi Vilas Bank reported a net loss of Rs 112 crore for the June quarter. The Bank reported total income backed by retails loans like home, personal, gold, car and two-wheeler loans along with the Business and mudra loans of Rs.538.83 crores during the period ended June 30, 2020, as compared to Rs.629.75 crores during the period ended March 31, 2020. - 2020-02-18 : Lakshmi Vilas Bank reported a Q3 net loss of Rs. 334.47 crores
Lakshmi Vilas Bank posted a net loss of Rs. 334.47 crores for the October- December quarter. The total income of the bank is Rs. 585.76 crores, which was Rs. 762.47 crores in the same period a year ago. The bank is now expected to increase retail loans like personal and home loans and business loans to avert the current slump and earn a profit. - 2020-01-02 : Lakshmi Vilas Bank revised its MCLR by 5bps
Lakshmi Vilas Bank revised its MCLR on January 1, 2020. One-year MCLR stands at 10.60% which was earlier set at 10.55%. One month, 3 months and 6-month MCLR is reduced to 10.25%, 10.30%, and 10.40%, respectively. For an overnight period, MCLR stands at 10.20%. The rate changes will impact the home loans and loan against property. - 2019-08-01 : Lakshmi Vilas Bank loans to become cheaper by 5 basis points from today
Lakshmi Vilas Bank has cut its Marginal Cost of Funds Based Lending Rate (MCLR) by 5 basis points. The move is supposed to make customer loans like home loans and mortgage loans cheaper. The lender has reduced a one-year MCLR rate to 9.95% as against 10.00% earlier. For one-month and three months, the rate has been revised to 9.75% and 9.80% respectively, which is also down by 5 basis points from earlier rates. The rates are effective from August 1, 2019. - 2019-06-21 : CCI approves the merger of Indiabulls Housing Finance with Lakshmi Vilas Bank
The Competition Commission of India (CCI) has approved the proposed merger of Indiabulls Housing Finance with Lakshmi Vilas Bank. After the merger, both the companies are aiming for a more extensive capital base, wider geographical reach, and steady growth across their retail loan book, which currently stands at Rs. 1.23 lakh crore.
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