LVB net profit up 41% at Rs 46 cr

Gross NPA down to 1.82 per cent during the quarter from 3.40 per cent

Lakshmi Vilas Bank has posted a growth of 41.53 per cent in net profit at Rs 46.07 crore for the quarter ended December, 2015, as compared to Rs 32.55 crore posted during the same period of previous fiscal year. The total income of the Bank stood at Rs 723.05 crore during the quarter, as compared to Rs 635.36 crore during the corresponding quarter of last year, an increase of 13.8 per cent.

The gross non performing asset (NPA) for the quarter has come down to Rs 331.57 crore (1.82 percent of gross advances), as compared to Rs 490.85 crore (3.40 per cent) during the same quarter of previous fiscal year. The net NPA also came down to Rs 143.87 crore (0.80 per cent) as against Rs 336.61 crore (2.37 [per cent) during the same quarter of previous year.

CASA ratio improved to 16.58 per cent as on December 31, 2015 from 14.95 per cent posted during the same quarter of previous fiscal year.

As on date, bank is operating with 442 branches, seven Extension Counters, 821 ATMs in 16 states and one union territory, the bank offers various bouquets of products and services.