Lakshmi Vilas Bank Net Profit up by 42.08% to Rs. 256 Cr

Major Performance Highlights

ü  Net Profit up by 42.08%, Y-o-Y.

ü  Operating Profit increased by 55.74%, Y-o-Y.

ü  Business expanded by 20.47% over previous year.

ü  Net Interest Income (NII) recorded 21.28%, Y-o-Y.

ü  ROA & ROE stood at 0.83% and 14.39%, respectively.

ü  NIM stood at 2.85% for 2016-17.

ü  Provision Coverage Ratio at 59.51%.

 Lakshmi Vilas Bank (LVB), a private sector Bank in its transformational journey, has recorded the following performance during the financial year 2016-17 (FY17) despite the challenging environment.

Year - on - Year Highlights:

± Net profit for the year increased by 42.08%, from Rs. 180.24 Crs for FY16 to Rs. 256.07 Crs for FY17.

± Operating Profit for the year up by 55.74% (from Rs407.12 Crs to Rs634.06 Crs).

± Net Interest Income (NII) recorded year on year growth of Rs137.35 Crs (21.28%) from Rs645.31 Crs to Rs782.65 Crs, Y-o-Y.

± Net Interest Margin (NIM) of the bank stood at 2.85% as of 31^st March 2017 whereas it was 2.78% as of 31^st March 2016.

± Gross NPA & Net NPA of the bank stood at 2.67% and 1.76%, respectively.

± Total Deposits rose from Rs 25,430.96 Crs in FY16 to Rs. 30,553.35 Crs, registering Y-o-Y growth of 20.14%.

± CASA grown from Rs. 4,415.51 Crs to Rs. 5,838.98 Crs, registering Y-o-Y growth of 32.24%.

± Gross Advances increased from Rs19,818.93 Crs to Rs 23,958.46 Crs registering Y-O-Y growth of  20.89%.

± Total Business of the bank reached `54511.81 Crs as of 31^st March 2017, showing an increase of 20.47%, Y-o-Y.

± Provision Coverage Ratio of the bank stood at 59.51% for FY17 whereas it was 68.55% during previous year.

Business..!

Total deposits as of 31.03.2017 stood at Rs. 30,553.35 crores, registered a growth of 20.14% over 31.03.2016. CASA deposits has grown significantly by 32.24% (Rs.1423.47 Crs) over the previous year and stood at Rs.5,838.98 Crs. 

Term deposits stood at Rs. 22,567.18 crores, an increase of 13.69% over the previous year resulting in CASA proportion to total deposits of 19.11% as on 31.03.2017. Gross Advances as of 31.03.2017 stood at `23958.46 crores, registered an increase of 20.89% over  previous year.

Capital Adequacy..!

The Bank’s total Capital Adequacy Ratio (CAR) as per Basel III guidelines, was at 10.38% as at March 31, 2017.

Dividend..!

The Board of Directors recommended a dividend of 27%, subject to approval, for the year ended March 31, 2017.

Network..!

As on date, bank is operating with 500 branches, 7 Extension Counters, 968 ATMs in 16 states and 1 union territory, the bank offers various bouquets of products and services. The bank is committed to build a sustainable business over the long term and upholding high standards of customer service - Life smiles where lvb serves.

The Board of Directors of The Lakshmi Vilas Bank Limited approved the financial results for the quarter ended March 31, 2017 and the audited results for the year ended March 31, 2017 at their meeting held in Chennai on Wednesday, April 26, 2017.

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