 "Lakshmi Vilas Bank")
Brickwork Ratings has downgraded the ratings for Lakshmi Vilas Bank’s (LVB’s) tier-II bonds from “BB+” to “B+” because of the recent ouster of seven of its directors, including the managing director, weak capitalisation and concerns over asset quality.
The private sector lender has very high levels of gross non-performing assets (NPAs) and reported losses in the 10 previous quarters, except for Q4FY20, according to the rating agency. The bank has filed details of rating action with the BSE.
LVB was placed under Prompt Corrective Action (PCA) by the Reserve Bank of India in September 2019. Its capital position,
The private sector lender has very high levels of gross non-performing assets (NPAs) and reported losses in the 10 previous quarters, except for Q4FY20, according to the rating agency. The bank has filed details of rating action with the BSE.
LVB was placed under Prompt Corrective Action (PCA) by the Reserve Bank of India in September 2019. Its capital position,
