Lakshmi Vilas Bank Q1 net profit goes up marginally

The bank currently has 299 branches and an ATM network of 684 across the country.

Written by PTI | Chennai | Published:August 12, 2013 5:05 pm

Private sector lender Lakshmi Vilas Bank (LVB) has reported a marginal increase in its net profit for the first quarter ending June 30,2013 at Rs 25.35 crore.

The Tamil Nadu-based bank had clocked Rs 25.23 crore net profit during the corresponding quarter of previous fiscal.

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The total income of the bank rose to Rs 532.45 crore for the first quarter ending June 30,2013 from Rs 461.25 crore during the corresponding period a year ago,it said today.

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Total deposits of the bank for the first quarter FY’14 stood at Rs 15,688.93 crore,up 11 per cent from Rs 14,135.60 crore during the corresponding period last fiscal.

The gross advances of the bank grew by 12.80 per cent to Rs 11,848.66 crore for the quarter from Rs 10,503.94 crore,during the corresponding period of previous year.

Total business of the bank grew to Rs 27,537.59 crore for the April-June quarter,up 11.76 per cent,from Rs 24,639.54 crore during the same period last year.

Gross Non-Performing Assets (NPA) of the bank as on June 30,2013 stood at 5.27 per cent,while Net NPA stood at 3.74 per cent.

The Net Interest Margin of the bank rose to 2.85 per cent as of June 30,2013 against 2.17 per cent registered during the corresponding quarter of previous year.

LVB currently has 299 branches and an ATM network of 684 across the country.

Shares of the bank closed at Rs 63.10 apiece,up 0.64 per cent over previous close on the BSE.

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