India
Lakshmi Vilas Bank (LVB), a private sector Bank in its transformational journey, has registered the following business performance during the financial year 2014-15 (FY15) in a challenging environment.
Y-o-Y Results:
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Net profit for the year increased by 121.74%, from Rs 59.66 Crs for FY14 to Rs 132.29 Crs for FY15.
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Operating Profit for the year up by 21.83%, Y-o-Y.
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Total income for FY15 was at Rs 2498.57 Crs, with a growth of 14.22% over the previous year Rs 2187.54 Crs.
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Interest Income improved by 11.62% over the last fiscal.
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Cost of Deposit of the bank has come down from 8.74% to 8.58%, Y-o-Y.
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Yield on Advances stood at 12.76%, as of 31st Mar 2015.
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Gross NPA declined from 4.19% to 2.75% and Net NPA from 3.44% to 1.85%.
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Total Deposits rose from Rs 18572.88 Crs in FY14 to Rs 21964.21 Crs, registering Y-o-Y growth of 18.26%.
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CASA grown from Rs 2640.90 Crs to Rs 3661.84 Crs, registering Y-o-Y growth of 38.66%.
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Gross Advances increased from Rs 13037.70 Crs to Rs 16512.84 Crs registering Y-O-Y growth of 26.65%.
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Total Business of the bank reached Rs 38477.05 Crs, showing an increase of 22% on a Y-o-Y basis – Both Deposits and Advances Targets achieved.
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The Capital Adequacy Ratio stood at 11.34%, under Basel III (11.57% under Basel II) as at 31st Mar 2015.
Q4 Results:
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Net Profit up by 90.54%, from Rs 21.03 Crs to Rs 40.07 Crs, Y-o-Y.
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Operating Profit up by 45.17% from Rs 78.17 Crs to Rs 113.48 Crs, Y-o-Y.
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Total income grown from Rs 571.43 crores to `663.97 crores.
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Other income of the bank increased by 61.55% from Rs 57.58 Crs to Rs 93.02 Crs, Y-o-Y.
Branch Expansion
Bank has opened 38 new branches and installed 180 ATM’s during the financial year 2014-15 and as of 31st March 2015, the bank has a network of 400 branches and 820 ATMs. The bank is envisaged to open another 100 branches during this fiscal.
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