Lakshmi Vilas Bank net profit rises by 45%; provisions up 86%
Provisions and contingencies was at Rs 62.57 crore, rising by 86.38% yoy and 78% qoq. Gross Non-performing Asset (GNPA) stood at 2.70%, expanding by 81 basis points yoy and 56 basis points qoq.
Lakshmi Vilas Bank reported standalone net profit of Rs 64.84 crore for the second quarter September 30, 2016, registering growth of 44.63% year-on-year (yoy) and 6.85% quarter-on-quarter (qoq).
Provisions and contingencies was at Rs 62.57 crore, rising by 86.38% yoy and 78% qoq. Gross Non-performing Asset (GNPA) stood at 2.70%, expanding by 81 basis points yoy and 56 basis points qoq.
The bank’s net interest income was at Rs 186.67 crore, increasing by 16.44% yoy and 5.13% qoq.
Total income from operations stood at Rs 830.29 crore, recording growth of 18.97% yoy and 7.15% qoq.
Total advances for this quarter stood at Rs 20,069.16 crore, up by 15.32% from Rs 17,402.21 crore a year ago same period.
Shares of Lakshmi Vilas Bank closed at Rs 151.20 on BSE, down by 0.36%.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
04:02 PM IST
Lakshmi Vilas Bank (LVB) logo, website tweaked post DBS merger; customers asked to use existing accounts
On Lakshmi Vilas Bank and Yes Bank, Shaktikanta Das says action taken in depositor interest
How much interest rate will Lakshmi Vilas Bank bank account holders get on their savings accounts and fixed deposits after merger with DBS