Lakshmi Vilas Bank gets indicative non-binding offer from Clix Group

The bank's weakening performance, rising slippages in corporate book and the impact on profitability and risk-weighted asset portfolio may further increase capital requirement

Lakshmi Vilas Bank (LVB) on Thursday said it has received an indicative non-binding offer from the Clix Group.  Officials of the bank said this is the first time the lender has received an offer officially, while the last one was only Letter of Intent (LoI).

LVB said further to the process of considering and evaluating the proposed amalgamation with Clix Capital Services Private Limited, Clix Finance India Private Limited and Clix Housing Finance Private Limited (collectively, the Clix Group), the bank has received an indicative non-binding offer from Clix Group. 

On September 15, LVB announced that the mutual due diligence with Clix