LVB Q2 loss widens to Rs 357 cr as bad loans rise, total income declines

Gross NPA at 21.25% of gross advances, compared with 12.31% a year ago; net NPA rise to 10.47% from 6.88%

Lakshmi Vilas Bank (LVB) has reported a loss of Rs 357.17 crore for the quarter ended September 30, 2019, as compared to Rs 177.30 loss during the same quarter last year. The total income declined 17 per cent to Rs 665.33 crore from Rs 800.50 crore during corresponding quarter of last year.

Gross non-performing assets (NPA) grew to Rs 4,091.05 crore, or 21.25 per cent of gross advances, during the quarter from Rs 2,964.89 crore (12.31 per cent) in the same quarter last year. The Net NPA rose to Rs 1,772.66 crore (10.47 per cent) from Rs 1,560.08 crore (6.88