Operating Profit of the bank for the 9 months ended Dec’16 up by 48.46%, Y-o-Y
CASA% of the bank increased from 16.58% to 21.42%, Y-o-Y.
NII recorded Y-o-Y growth of 17.40%.
ROA & ROE stood at 0.90% and 16.05%, respectively
24 January 2017, Chennai: The Board of Directors of Lakshmi Vilas Bank Ltd. today approved and adopted its Unaudited Financial Results for the third quarter, ended December 31, 2016.
Key Highlights:
· Total interest income stood at `2113.10 Crores for the nine months ended Dec’16, posting a growth of 11.10%, Y-o-Y.
· Other Income of the bank for the period ended Dec’16 grew by 75.14%, Y-o-Y and stood at `371.33 Crores compared to `212.02 Crores during the same period of previous year.
· Total Income of the bank for nine months ended Dec 2016 has registered a growth of 17.52%, stood at `2484.43 Crores compared to `2113.99 Crores during the same period of last year.
· Net Interest Income recorded a Y-o-Y growth of `82.24 Crs (17.40%) from `472.61 Crs to `554.84 Crs, Y-o-Y.
· Operating profit of the bank for nine months ended Dec’16 grown by 48.46% and stood at `455.70 Crores as against `306.95 Crores during the same period of previous year.
· Net Profit of the bank increased by 55.46%, from `131.16 CRs to `203.91 Crs, Y-o-Y.
· CASA portfolio has grown by `1975.18 Crs from `3968.31 Crs to `5943.49 Crs. CASA composition of the bank increased from 16.58% to 21.42%.
· Total Deposits rose from `23937.67 Crs to `27750.59 Crs, registering Y-o-Y growth of 15.93%.
· Gross Credit expanded from `18170.63 Crs to `19713.57 Crs registering Y-o-Y growth of 8.49%.
· Business Mix expanded by `5355.86 Crs (12.72%) from `42108.30 Crs to `47464.16 Crs, Y-o-Y.
· Gross NPA (%) & Net NPA (%) of the bank stood at 2.78% & 1.82%, respectively.
· NIM of the bank stood at 2.77% for the nine months ended Dec 2016 and 2.72% for the 3rd quarter ended Dec 2016.
· ROA & ROE stood at 0.90% & 16.05%, respectively. (0.69% & 11.34% respectively for the same period of previous year)
· Cost of Deposit of the bank has come down from 8.23% to 7.45%, Y-o-Y. Yield on Advances stood at 11.48% for Dec 2016.
Performance Quarter – on – Quarter
[3rd Quarter ended 31st Dec 2016 Vs 3rd Quarter ended 31st Dec 2015]
· Net profit increased by 70.13% from `46.07 Crs to `78.38 Crs.
· Operating Profit of the bank up by 61.76% from `105.99 Crs to `171.45 Crs.
· Interest income grew by 11.52% from `653.72 Crs to `729.04 Crs.
· Total income of the bank grown by 21.60% from `723.05 Crs to `879.26 Crs.
· Return on Average Assets stood at 0.98% for Q3 of FY16-17, whereas it was at 0.70% during Q3 of FY15-16
· Return on Equity (ROE) of the bank stood at 18.18% for Q3 of FY16-17, whereas it was at 11.64% during Q3 of FY15-16.
As on date, bank is operating with 467 branches, 7 Extension Counters, 927 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 19th January 2017 at Chennai.
