2017-05-01 :Lakshmi Vilas Bank looking at acquisition opportunities
Private sector lender, Lakshmi Vilas Bank is planning for further acquisition opportunities. Till now bank has the experience of managing nine mergers and acquisitions on their own. Moreover, the bank is also focusing over its target of achieving growth in their overall loan portfolio to retail, agriculture, MSME (micro small and medium enterprises) and commercial banking segments.
2017-04-28 :Lakshmi Vilas Bank net profit rises by 6%
Lakshmi Vilas Bank has posted a 6 per cent increase in net profit for the March quarter .Net profit for the fourth quarter of this fiscal year stood at Rs. 52 crore as against from Rs. 49 crore a year ago. The profit increase is backed by strong growth in advances, other income and reduced cost of funds. The bank has also reported reduction in its gross and net NPAs due to economic slowdown.
2017-02-28 :Lakshmi Vilas Bank ties with Centrum Group to serve its wealthy clients
Lakshmi Vilas Bank has tied up with a leading Financial Services company, Centrum Group to provide services to its high net worth clients. Centrum Group will provide professional wealth management and family office services to the high net worth clients of the bank. Centrum Group primarily deals in professional wealth management services which include investment advisory across asset classes, portfolio management services,family office services and tax planning.
2016-07-20 :Lakshmi Vilas Bank Q1 net jumps 50 per cent to Rs 61 crore
Lakshmi Vilas Bank has reported a net profit of over 50 per cent at Rs 60.68 crore in the June quarter of FY17. Total income of the bank in the June Quarter increased to Rs 774.87 crore from Rs 693.05 crore in the same period of previous year. Gross NPAs as a percentage to Total Advances decreased to 2.14 per cent. Net NPAs decreased to 1.3 per cent of the Net Advances as against 1.72 per cent in the same period of previous fiscal. Thus, the provision towards bad loans was also reduced to Rs 35.15 crore June quarter of FY17 as against Rs 50.31 crore in the same period of previous year.
2016-04-28 :Lakshmi Vilas Bank Q4 profit up 22.5% on retail, SME growth
Lakshmi Vilas Bank saw its Q4 profit grow 22.5% to Rs 49.07 crore from strength in its retail and SME lending. The commercial lender Q4 net income increased 14.3% to Rs 758.84 crore from Rs 663.97 crore for the same period last year. The bank is seeing lending opportunities in the pharma and real estate sector. And they are looking at broadening the scope of their agricultural loans. The only possible areas of improvement bank can see are with regard to their CASA deposits and their net interest income.
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