Lakshmi Vilas Bank posted a net profit of Rs 30.66 cr for FY10
Lakshmi Vilas Bank (LVB), the leading, fast-growing private sector Bank has recorded a sound business performance during Q4 of 2009-10. The operating profit of the Bank for the 12 months ended March 31, 2010 registered a growth of 52.71%.
- CASA (current account to savings account) deposits have increased by 34.50% from Rs. 1225 crores Rs. 1649 crores
- Total Deposits of the Bank grew by 23.28% during the year from Rs. 7631 crores to Rs. 9075 crores
- Net Advances stood at Rs. 6277 crores, registering a growth of 19.88% from the previous year of Rs. 5236 crores
- Total Interest Income of the Bank for the year was Rs. 909.32 crores with a growth rate of 38.28% over the previous year position of Rs. 657.61 crores
- Total income had increased by 32.47% to Rs. 1012 crores
- Bank has posted a net profit of Rs. 30.66 crores for the year 2009-10
The Bank has a national presence serving satisfied customers through its 271 branches, spread across 14 states and 1 union territory. During the year Bank had launched VISA International Debit Card, won the Hitachi Diamond award for the best use of innovative technology. It had so far opened 176 ATMs and planned for another 100 ATMs during the current year. Bank has decided to grow aggressively in wealth management, NRI, SME, Agri sectors, DP, online trading activities, etc. to provide broader range of products to customers.
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