2017-08-22 :Lakshmi Vilas Bank ropes in McKinsey to double MSME loan book by fiscal 2020
In a bid to strengthen its micro, small and medium enterprises (MSME) loans portfolio, the bank has tied up with McKinsey for consultation on strengthening and reorganising its overall MSME business. Currently, the MSME loan book of the bank is above Rs. 5,660 crore which it aims to double it to Rs. 10,000 crore by FY20.
2017-08-08 :Lakshmi Vilas Bank announces reduction in MCLR rates
Lakshmi Vilas Bank has slashed its marginal cost based lending rate (MCLR). For overnight, one month and three month maturities, the rate has been revised to 9.50 per cent. The new MCLR rate for six month and one year is 9.45 per cent respectively. The new MCLR rates are effective from 1st August, 2017.
2017-07-26 :Lakshmi Vilas Bank reports 9 per cent growth in net profit at Rs. 66 crore
Lakshmi Vilas Bank has reported a significant growth of 9 per cent in its net profit at Rs. 66 crore during the first quarter of FY18 as against Rs. 60 crore during the corresponding quarter of the previous fiscal year. Improvement in net interest income and CASA deposits has tampered the bank’s profit growth.
2017-06-13 :Lakshmi Vilas Bank likely to raise Rs. 1,100 crore via sale of shares
Private sector lender, Lakshmi Vilas Bank, is looking for an opportunity to raise the capital of Rs. 1,100 crore via selling its shares to the institutional investors. The bank has received approval from its board to sell 50 million shares to investors through a Qualified Institutional Placement (QIP). The newly raised funds will be used for expanding its banking activities as well as inorganic growth opportunities.
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.
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