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Lakshmi Vilas Bank Ltd.

BSE: 534690 Sector: Financials
NSE: LAKSHVILAS ISIN Code: INE694C01018
BSE 00:00 | 18 Oct 19.00 -0.95
(-4.76%)
OPEN

19.00

HIGH

20.00

LOW

19.00

NSE 00:00 | 18 Oct 19.00 -0.95
(-4.76%)
OPEN

19.00

HIGH

20.40

LOW

19.00

OPEN 19.00
PREVIOUS CLOSE 19.95
VOLUME 1269413
52-Week high 97.35
52-Week low 19.00
P/E
Mkt Cap.(Rs cr) 640
Buy Price 19.00
Buy Qty 4000.00
Sell Price 19.00
Sell Qty 327433.00
OPEN 19.00
CLOSE 19.95
VOLUME 1269413
52-Week high 97.35
52-Week low 19.00
P/E
Mkt Cap.(Rs cr) 640
Buy Price 19.00
Buy Qty 4000.00
Sell Price 19.00
Sell Qty 327433.00

Lakshmi Vilas Bank Ltd. (LAKSHVILAS) - Company History

Lakshmi Vilas Bank Ltd (LVBL) was incorporated in the year 1926. It came into existence to meet the growing demands of agriculture small scale-industries and other priority sectors. To make itself a technology-oriented bank LVB has appointed M/s KPMG as IT consultant to offer consultancy services and also to prepare IT strategy for the bank. The Bank operates into four business segments comprising of Treasury Corporate and Wholesale Banking Retail Banking and Other Banking Operations. The Bank's network spread as on 31st March 2018 stood at 548 branches with 540 General Banking branches 7 Commercial Banking Branches 1 Satellite branch and 7 extension counters with its presence spread across 18 states and the union territory of Puducherry. The Bank has added 62 new ATMs during the Fiscal 2017-18 and the ATM network stood at 1020 which includes 596 Offsite ATMs.To improve customer services it computerised all main branches and administrative offices in all the metros and urban/semi-urban areas. The bank has actively participated in priority sector lendings (PSLs) particularly under various government sponsored programmes for the upliftment and economic development of the rural poor. The bank also opened extension counter at EID Parry (I) Ltd. Pugalur Zion Matriculation Higher Secondary School Selliyur and G S Pillai Engineering College Nagapattinam. The bank has made network to all the branches to provide on-line connectivity. It has made process of converting its DBMS platform to client-server environment to enable anywhere banking at a national level. During December 2002 the bank has obtained Iicense from IRDA for marketing life insurance products of M/s AVIVA Life Insurance Company (formerly Dabur CGU Life Insurance Pvt. Ltd). The bank will sell the insurance products initially in Andhra Pradesh and Tamil Nadu through its 104 branches. It is also planning to enter into Non-life insurance segment through Corporate Agency arrangement. The total numbers of branches as of March 2004 were 224 and out of this one branch were converted into satellite branch.During FY 2015 Lakshmi Vilas Bank launched LVB Crown Services a bespoke suite of products and services designed exclusively for high net worth individuals. The Bank has envisioned a premium value proposition with customers being mapped to either CROWN Relationship Managers or Branch Managers. This would ensure a responsive superior service experience for customers. Also the LVB CROWN Savings Bank account offers Rs 25 lacs Personal Accident Cover 25% discount on locker facilities free RTGS Platinum VISA International Debit card with higher limits on POS and ATM transactions among a host of other benefits. The Bank is also creating LVB CROWN lounges for CROWN customers in select branches. The first LVB CROWN lounge was launched in Cantonment Branch Bengaluru in February'15 and more are slated for launch in the current financial year. The Bank would bring in more products and services as part of LVB CROWN catering to the varied needs of its esteemed customers.During the fiscal 2015-16 the Bank added 60 new branches to its network across the country and as on 31st March 2016 the Bank had a network of 459 branches 1 satellite branch and 7 extension counters spread across 16 states and the Union Territory of Pondicherry.During the year 2017 11985138 equity shares were allotted to Qualified Institutional Buyers (QIBs) in line with Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations 2009. These shares were issued at a premium of Rs 130 to the face value of Rs 10.During the year the Bank had issued equity shares to Qualified Institutional Buyers through Qualified Institutional Placement on 3 January1 2017. The issue was done in order to enhance the capital adequacy ratio in line with the RBI norms and the proceeds of the issue were used primarily to enhance the Bank's Capital Adequacy Ratio and to increase the capacity to lend and for general corporate purposes subject to compliance of applicable laws. There was no variation prompting disclosure under Regulation 32 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015.During the fiscal 2016-17 the Bank added 21 new branches to its network across the country and as on 31st March 2017 the Bank had a network of 480 branches 1 satellite branch and 7 extension counters spread across 16 states and the union territory of Puducherry. The Bank also has ATM network of 958 (362 Onsite & 596 Offsite) in vital / major locations for better service to our customers. During the year 63987006 equity shares were allotted to eligible shareholders on Rights Basis in line with Chapter II (10) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations 2009. These shares were issued at a premium of Rs112/-to the face value of Rs10/-.