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The non-performing asset (NPA) slippage for the Karur-headquartered Lakshmi Vilas Bank rose from a level of 2.21 per cent at the end of June 2012 to 3.74 per cent at the end of the first quarter of 2013-14.
Bank sources maintain that these slippages are short term and will be addressed within this fiscal.
Despite concerns, the LVB Managing Director K.S.R. Anjaneyalu said that the growth at the end of the first quarter has been consistent even in a challenging environment.
The bank’s net profit increased albeit marginally at the end of June 2013 to Rs 25.35 crore compared to Rs 25.23 crore a year ago.
Other income grew 29.2 per cent to Rs 54.53 crore (Rs 42.19 crore) and total business to Rs 27,537.59 crore (Rs 24,639.54 crore) .
The net interest margin improved to 2.58 per cent (2.17 per cent)
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