Lakshmi Vilas Bank posts Q2 net loss of Rs 1.32 bn on higher provisioning

Lakshmi Vilas Bank on Wednesday posted a net loss of Rs 1.32 billion during the quarter ended September 30, 2018, as compared to a net profit of Rs 105 million during the same quarter of last year, owing to higher provisioning, among other reasons. The total income declined by 11.3 per cent during the period to Rs 8 billion during the quarter this year, as against Rs 9.02 billion during the corresponding quarter last year.    

The lack of capital to grow the advance book was another issue for the bank, which is currently looking at raising funds to the tune