LVB Q3 net profit grows 41%

By: | Published: January 23, 2016 12:14 AM

Lakshmi Vilas Bank (LVB) on Friday reported a 41.49% rise in its net profit for the third quarter at Rs 46.07 crore, compared with Rs 32.56 crore in the same quarter last fiscal.

Lakshmi Vilas Bank (LVB) on Friday reported a 41.49% rise in its net profit for the third quarter at Rs 46.07 crore, compared with Rs 32.56 crore in the same quarter last fiscal.

Total income of the bank grew 13.80% to Rs 723.05 crore during the quarter under review from Rs 635.36 crore.
Gross NPA fell to 1.82% from 3.40%, while net NPA was down to 0.80% from 2.37%. Total deposits rose to Rs 23,937.67 crore from Rs 19,511.38 crore, an increase of 22.69%.

Gross credit expanded to Rs 18170.63 crore from Rs 14423.18 crore, a growth of 25.98%. Interest income rose by 16.32% to Rs 653.72 crore from Rs 562 crore. Return on average assets stood at 0.70% for the latest quarter, compared with 0.59% in the corresponding period last fiscal.

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