LVB total business increases 11.62%

Chennai: Lakshmi Vilas Bank has announced its results for the second quarter and said the Net Interest Income (NII) for the six months period recorded a growth of Rs 86.24 crore (23.68 per cent). The total business of the bank reached Rs 52,386.99 crore which is an increase of 11.62 per cent and Gross Advances increased from Rs 20,253.32 crore to Rs 23,215.88 crore.

‘Total deposits rose from Rs 26,680.14 crore to Rs 29,171.11 crore registering year-on-year growth of 9.34 per cent,’ MD and CEO of LVB, Parthasarathy Mukerjee said.

Commenting about CASA, Mukherjee said that it grew from Rs 4,619.09 crore to 6,117.95 crore, registering a growth of 32.45 per cent. ‘Our operating profit for the six months period rose by 33.16 per cent to Rs 378.51 crore,’ he added.

         

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