Lakshmi Vilas Bank profit up by 338.68 % in December quarter

Bank reported 11.82 % jump in credit disbursement

Lakshmi Vilas Bank has reported a 339 per cent jump in net profit during the quarter ended December at Rs 32.6 crore, compared with Rs 7.4 crore a year ago. The total income rose to Rs 635 crore from Rs 552 crore a year ago.

Total deposits rose to Rs 19,511 crore from Rs 17,315 crore, an increase of 12.7 per cent. Gross credit rose by 11.8 per cent to Rs 14,423 crore from Rs 12,898 crore.

Gross non-performing assets reduced from 5.6 per cent to 3.4 per cent and net NPA dropped to 2.4 per cent from 4.3 per cent.

Bank's Capital Adequacy Ratio stood at 1.247% as per Basel III as at December 31, 2014.