L to R: Mr. A.J. Vidyasagar, President, Retail Banking - LVB ; Mr. N.S. Venkatesh, ED & CFO ; Mr.P. Mukherjee, MD & CEO ; Mr R.M.Meenakshisundaram, President, Wholesale Banking ; Mr. Sridhar Rallabandi, President & CRO
Major Performance Highlights
- Business expanded by 14.15% Y-o-Y.
- Operating Profit increased by 58.24%, Y-o-Y.
- Net Profit up by 8.96%, Y-o-Y.
- Net Interest Income (NII) recorded growth of 22.62%, Y-o-Y.
- ROA & ROE stood at 0.74% and 13.14%, respectively.
- NIM stood at 2.74% for Q1FY18.
Chennai, July 2017: Lakshmi Vilas Bank (LVB), a private sector Bank in its transformational journey, has recorded the following performance during the quarter ended June 2017 (Q1FY18) despite the challenging environment.
Year - on - Year Highlights:
* Total Business of the bank reached Rs.52,711.73crore as of 30/06/2017, showing an increase of 14.15%, Y-o-Y.
* Gross Advances increased from Rs.20,182.72 crore to Rs.23,236.19 crore registering Y-O-Y growth of 15.13%.
* Total Deposits rose from Rs.25,995.86 crore as on 30/06/2016 to Rs.29,475.53 crore as on 30/06/2017, registering Y-o-Y growth of 13.39%.
* CASA grew from Rs.4,180.65 crore to Rs.5,707.69 crore, registering Y-o-Y growth of 36.53%.
* CASA as a percentage to deposit improved to 19.36% from 16.08% Y-O-Y.
* Operating Profit for the year went up by 58.24% (from Rs.125.84 crore to Rs.199.13 crore).
* Net profit for the year increased by 8.95%, from Rs.60.68 crore for Q1FY17 to Rs.66.12 crore for Q1FY18.
* Net Interest Income (NII) recorded year on year growth of Rs.40.17 crore (22.62%) from Rs.177.56 crore to Rs.217.73 crore, Y-o-Y.
* Net Interest Margin (NIM) of the bank stood at 2.74% as of 30th June 2017 as against 2.75% as of 30th June 2016.
* Gross NPA & Net NPA of the bank stood at 3.78% and 2.84%, respectively.
* Provision Coverage Ratio of the bank stood at 51.32% for Q1FY18.
Business
Total deposits as of 30.06.2017 stood at Rs.29,475.53 crores, registered a growth of 13.39% over 30.06.2016. CASA deposits has grown significantly by 36.53% (Rs.1,527.04 crore) over the previous year and stood at Rs.5,707.69 crore. Term deposits stood at Rs.22,515.62 crores, an increase of 8.57% over the previous year resulting in CASA proportion to total deposits of 19.36% as on 30.06.2017. Gross Advances as of 30.06.2017 stood at Rs.23,236.19 crores, registered an increase of 15.13% over previous year.
Capital Adequacy:
The Bank’s total Capital Adequacy Ratio (CAR) as per Basel III guidelines, was at 11.67% as at June 30, 2017.
Network
As on date, bank is operating with 506 branches, 7 Extension Counters, 981 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 unaudited financial results for the quarter ended June 30, 2017 at their meeting held in Chennai on Tuesday, July 25, 2017.
