Financial Daily from THE HINDU group of publications
Sunday, Feb 08, 2004
Financial Daily from THE HINDU group of publications Sunday, Feb 08, 2004 |
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Corporate Results
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Private Banks Money & Banking - Financial Performance LVB net up 32 pc in Q3 Our Bureau
Chennai , Feb. 7 LAKSHMI Vilas Bank has recorded a 32 per cent rise in net profit for the third quarter of the current year to Rs 30.09 crore from Rs 22.93 crore in the same quarter last year. The bank's net interest margin improved from 2.18 per cent to 2.26 per cent. Its capital adequacy ratio also increased to 15.83 per cent from 12.78 per cent. As at the end of December 2003, the earnings per share was Rs 34.86 compared to Rs 26.45 at the end of December 2002. The bank said in a press release that it hired KPMG "for drawing up the technology roadmap for the bank." It has also bought ICICI Infotech's core banking software, Newton, for networking its branches. "It is proposed to have 100 branches under total bank automation environment and another 100 branches in partial automation by March 2004. 25 branches are to be networked," the release said.
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