Lakshmi Vilas Bank, a private sector Bank has reported its FirstQuarter results for the current financial year today. The Net Interest Margin of the bank stood at 1.48% as of 30/06/2018 as against 2.74% as of 30/06/2017 while Cost to Income ratio stood at 96.46% (Previous year 46.90%) as against 143.62% in Q4 FY 18. The Bank’s total Capital Adequacy Ratio as per Basel III guidelines, was at 9.45% as at 30/06/2018as against 11.67% as at 30/06/2017.
The Gross NPA stood10.73% as on 30/06/2018, up from 3.78% as on 30/06/17. Sequentially, it has gone up from 9.98%as on 31/03/2018. Net NPA stood at 5.96%, up from 2.84 % in the corresponding period of the previous year, and sequentiallyup from the 5.66% in March 2018. As on30/06/2018, Bank has 561 branches, 5 Extension Counters, 1031 ATMs in 18 states and 1 union territory, the Bank offers various bouquets of products and services.
The Board of Directors of The Lakshmi Vilas Bank Limited approved the financial results for the quarter ended 30/06/2018at their meeting held in Chennai on 26thJuly, 2018.