LVB Q2 net soars 300% to Rs 45 cr

Lakshmi Vilas Bank (LVB), a leading private sector bank has reported a net profit of Rs 44.66 crore for the six months ended September 2009, compared to Rs 11.21 crore in the same period last year, registering a 298 per cent growth.
 
Total income for the first half year ended September 2009 has grown at 48 per cent to Rs 484.31 crore from Rs 326.78 crore in the corresponding period the previous year, a press release from LVB said here today.
 
Interest on advances has grown from Rs 221.38 crore to Rs 349.49 crore,registering a year on year growth of 58 per cent.
 
Deposits rose from Rs 6,004 crore to Rs 8,441 crore, increasing by 40.58 per cent year-on-year basis.
 
Credit portfolio expanded from Rs 4,367 crore to Rs 5,795 crore, registering year-on-year growth of 32,70 per cent, the release said adding that total business of the bank has improved to Rs 14,236 crore from Rs 10,371 crore, growing at 37.26 year on year basis.