A recent press report said that Lakshmi Vilas Bank has registered a 30 per cent growth in its operating profit during the first quarter of the current fiscal compared to the corresponding quarter of the earlier fiscal.
Reports said that the bank’s operating profit went up to Rs 69.70 crore from Rs 53.73 crore in Q1 of 2010-11. The profit after tax increased by 5 per cent and was at Rs 24.58 crore. The total income of the bank grew 34.53 per cent to Rs 369.94 crore (Rs 274.99 crore).
Reports added saying that the CASA balances have increased by 19.82 per cent and deposits by 32 per cent to Rs 11,844 crore. The advances went up by 30 per cent to Rs 8,258 crore (Rs 6,342 crore). The banks total business crossed the Rs 20,200-crore mark compared to Rs 15,369 crore, a 31 per cent increase year-on-year.
The gross and net NPAs of the bank as at June 30, 2011, were 2.09 per cent and 0.98 per cent respectively. The loan portfolio of the bank includes home loan, personal loans, personal vehicle loan, education loan etc.