Lakshmi Vilas Bank (LVB), a south-based private sector Bank, has declared its results for the Final Quarter ended on March 31, 2020.
Total Business of the bank was Rs.38,116. crore as of 31/03/2020 as against Rs.51.235. crore as on 31 st March 2019. CASA as a percentage to total deposits stood higher at 26.63 % as on 31/3/2020 as against 25.67% as on 31.3.2019. Gross Advances stood at Rs.16,673 Crore as of 31/03/2020 as against Rs.21,956 crore as on 31/3/2019, Y-O-Y decline of 24.06% mainly due to hiving-off some low yielding bulk advances and conservative approach of selective security based low risk fresh lending.
The Bulk Deposits were reduced by around Rs.2563 crore to Rs.1043 crore from the level of Rs.3606 crore as on 31st March 2019. Operating Profit of the bank stood at Rs.70.32 crore for the quarter ended 31st Mar 2020 as against the operating loss of Rs.19.85 crore for the quarter ended 31/12/2019 and Operating Loss of Rs.21.18 crore for the quarter ended 31/3/2019.
Cost to Income ratio for the Q4 FY20 stood to 71.10 % as against the same in Q3 FY20 stood to 110.38% (sequentially). The Cost to Income Ratio for the Q4 of FY 2019 stood at 110.72 %. (Y-o-Y) Loss before tax provision was at Rs.233.15 crore, for the quarter ended 31/3/2020 as against the Loss of Rs.334.48 for the quarter ended 31/12/2019 and the Net loss Before Tax was Rs.499.96 crore for the QE ended 31/3/2019 (Y-o-Y).
Net Profit after Tax is Rs.92.86 Crore for the quarter ended March 20 as against Net loss of Rs.334 48 crore in the previous quarter ended Dec 2019. Net Interest Margin (NIM) of the bank stood at 1.56 % for the year ended 31st March 2020 as against 1.65 % for the year ended 31st March 2019.
Source: PR