Lakshmi Vilas Bank (LVB), a fast-growing private sector Bank has posted a net profit of Rs 101.14 crore for FY11, an increase of 230% as compared to Rs 30.67 crore for FY10.
The operating profit of the bank for FY11 was Rs 273.86 crore, representing a robust growth of 65% over FY10 (Rs 166.21 crore).
Other income of the bank for FY11 has grown 32% to Rs 137.02 crore.
Total deposits rose from Rs 9,075 crore in FY11 to Rs 11,150 crore, registering y-o-y growth of 23%
Gross credit expanded from Rs 6,350 crore to Rs 8,188 crore registering y-o-y growth of 29%.
The capital adequacy ratio stood at 13.19% under Basel II (12.09% under Basel I) as on March 31, 2011.
The board has recommended a dividend of Rs 2.50 per share (25%) for FY11 as against Rs 0.60 per share (6%) per share for FY10, a growth of 317%.