2017-09-06 :Lakshmi Vilas Bank reduces MCLR rates across all tenors
Lakshmi Vilas Bank has reduced its marginal cost based lending rate (MCLR) across all tenors. For overnight and one month maturities, the rate has been revised to 9.45 per cent while for three month maturities the rate has been reduced to 9.40 per cent. The new MCLR rate for six month and one year is 9.40 per cent respectively. The new MCLR rates are effective from 1st September, 2017.
2017-08-24 :Lakshmi Vilas Bank targets Rs. 10,000 crore lending to MSMEs by 2020
Eyeing at expanding credit base to the Micro, Small and Medium Enterprises (MSMEs), Lakshmi Vilas Bank has announced its target of Rs. 10,000 crores in the lending book by the FY20. The Bank is in the process of formulating a dedicated framework to expand its roots in MSME lending. For this purpose, the bank has also collaborated with McKinsey for consultation on strengthening as well as reorganizing its engagement with MSMEs.
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.
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