Net Profit of the Lakshmi Vilas bank Q3 FY16  up by 41.49% Y-o-Y.

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Operating Profit of the bank for the 9 months ended Dec’15 up by 19.02% and the Net Profit of the bank for the 9 months ended Dec’15 grown by 42.24%, Y-o-Y

Gross NPA (%) and Net NPA (%) reduced from 3.40% to 1.82% and 2.37% to 0.80%, Y-o-Y, respectively.

  1. Total interest income stood at `1901.97 Crores for the nine months ended Dec’15, posting a growth of 15.72%, Y-o-Y.
  2. Other Income of the bank for the period ended Dec’15 grew by 11%, Y-o-Y and stood at `212.02 Crores compared to `191.01 Crores during the same period of previous year.
  3. Total Income of the bank for nine months ended Dec 2015 has registered a growth of 15.23%, stood at `2113.99 Crores compared to `1834.60 Crores during the same period of last year.
  4. Net Interest Income recorded a Y-o-Y growth of `84.83 Crs (21.87%) from `387.78 Crs to `472.61 Crs, Y-o-Y.
  5. Operating profit of the bank for nine months ended Dec’15 grown by 19.02% and stood at `312.98 Crores as against `262.96 Crores during the same period of previous year.
  6. Total Deposits rose from `19511.38 Crs to `23937.67 Crs, registering Y-o-Y growth of 22.69%.
  7. Gross Credit expanded from `14423.18 Crs to `18170.63 Crs registering Y-o-Y growth of 25.98%.
  8. Gross NPA (%) of the bank reduced from 3.40% to 1.82% and Net NPA (%) reduced from 2.37% to 0.80%, Y-o-Y.
  9. The bank posted a Net profit of `131.16 Crs for the nine months ended Dec 2015.
  10. NIM of the bank stood at 2.78% for the 3rd quarter ended Dec 2015.
  11. Cost of Deposit of the bank has come down from 8.60% to 8.23%, Y-o-Y.
  12. Yield on Advances of the bank stood at 12.28% for Dec’15.

Performance for the quarter ended 31st Dec 2015 Vs quarter ended 31stDec 2014

  1. Net profit increased by 41.49% from `32.56 Crs to `46.07 Crs.
  2. Operating Profit of the bank up by 5.05% from 102.80 Crs to 107.99 Crs.
  3. Total income grew by 13.80% from `635.36 Crs to `723.05 Crs.
  4. Interest income of the bank grown by 16.32% from `562 Crs to `653.72 Crs.
  5. Return on Average Assets stood at 0.70% for Q3 of FY15-16, whereas it was at 0.59% during Q3 of FY14-15.
  6. CASA ratio improved to 16.58% as on 31.12.2015 from 14.95% as on 31.12.2014.

As on date, bank is operating with 442 branches, 7 Extension Counters, 821 ATMs in 16 states and 1 union territory, the bank offers various bouquets of products and services. The bank is committed to build a sustainable business over the long term and upholding high standards of customer service – Life smiles where lvb serves.

The unaudited results have been subjected to limited review by the statutory auditors as per clause 41 of the Listing Agreement with the stock exchanges and the same was taken on record by the Board in its meeting held on 22nd January 2016  at Chennai.

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