The Hindu Business Line : Lord Krishna Bank IPO next fiscal

IN order to take care of its incremental business and increase its capital base and net worth, Lord Krishna Bank is planning an IPO next financial year. The move comes in the wake of an absence of a consensus on valuations and calling off its merger proposal with Federal Bank Ltd.

Mr V.K. Gupta, Deputy Managing Director, said it had grown from a small regional bank to a pan-Indian tech-savvy bank, with a customer-friendly and market-oriented image. The bank is having a net worth of Rs 160.12 crore, with a CAR of 11.74 per cent, which is above the benchmark of 9 per cent fixed by the RBI.

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