Lakshmi Vilas Bank

Post-LVB integration, DBS aiming to treble growth in 5 years: MD & CEO

Surojit Shome, MD and CEO of DBS Bank India, said having crossed the Rs one trillion business (deposit and loans) mark in September, the bank is looking to grow 3x in five years

DBS Bank India seeks three-fold jump in gold loan portfolio in 5 yrs: Exec

Lender's amalgamation with Lakshmi Vilas Bank expanded its reach in South India

DBS reports lower Q1 profits; partners Indian startups to lift business

It was the second-best quarter in the bank's history and net profit was 30% higher compared with the previous quarter, and higher than the average estimate of SGD 1.63 billion from six analysts polled

DBS Bank India migrates to new IFSC and MICR codes of erstwhile LVB

Following the amalgamation with DBIL, the IFSC & MICR codes of all branches of erstwhile LVB have changed. While the new codes have been active since October 25, 2021, the older IFSC codes will remain valid until February 28, 2022, to ensure customers' convenience and ease of transition. Customers will be required to use the new DBS IFSC code from March 1, 2022, onwards to receive funds through NEFT/RTGS/IMPS.The change was communicated to customers through physical letters, emails, and SMS as well as at the branches. They were requested to share the new IFSC code with business partners, associates and vendors to update their records, recurring payments and receivables well in time. All existing cheques issued to the third party will have to be replaced with new cheques before February 28, 2022. Any cheque with old MICR codes presented after the aforementioned date will not be honoured.New cheque books (with new MICR code) have been available since 1st November 2021. Customers ..

DBS Bank India FY21 nearly triples to Rs 312 cr, revenue up 85%

Asset quality under pressure on LVB acquisition

RBI has given us 120 days to operationalise SFB: Centrum's Jaspal Bindra

In an exclusive interview with Business Standard, Jaspal Bindra, executive chairman of Centrum group said it has committed Rs 1,800 cr capital to the SFB, Rs 900 cr of which will come in first year

Ujjivan may move resolution again to appoint Samit Ghosh MD & CEO

The firm is reaching out to shareholders again in this issue after they voted against Ghosh earlier

How to revive PMC Bank

Mired in corruption, politics and with a history of suicides by its hapless depositors, PMC Bank's revival is a challenge very different from Yes Bank and LVB, both for the regulator and the rescuer

DBS faces lawsuits in India after takeover of Lakshmi Vilas Bank

DBS's Lakshmi Vilas acquisition was the first time the Reserve Bank of India turned to a foreign lender to bail out a local bank

Plea in Delhi High Court against Lakshmi Vilas Bank and DBS merger

A plea in the Delhi High Court has challenged the scheme of amalgamation of Lakshmi Vilas Bank with Development Bank of Singapore (DBS), contending that its shareholders have been "left in the lurch"

Lakshmi Vilas Bank will finally delist from bourses on December 18

Move follows a November 25 gazette notification to this effect, issued by Department of Financial Services, Ministry of Finance

RBI, DBS Bank to ask SC to move cases on LVB-DBS merger to one location

Currently petitions challenging the merger were filed in four different high courts in the country

With conglomerates reluctant, PEs may be better source of capital for banks

PEs have deep pockets with the ability to recapitalise the bank as and when needed

Fitch now expects lower GDP contraction in India at 9.4% for FY21

Says Covid vaccines aren't likely to reach majority even in a year, Cautions against weak balance sheets, challenges in financial sector

Lakshmi Vilas Bank name board gets DBS logo, tagline on new ownership

Ad banner carrying DBS Bank's brand ambassador Sachin Tendulkar to spread awareness

Which bank next on the RBI radar?

If shareholders can throw the chairman and MD out, where is the sanctity of the RBI approval for such appointments?

DBS Bank India gets Rs 2,500 cr capital support from parent for LVB merger

The scheme of amalgamation came into effect on November 27, 2020.

Subramanian Swamy asks PM Modi to put LVB merger with DBS on hold

The BJP member also sought to put the LVB-DBS merger on hold in order to facilitate a forensic audit of the takeover of the assets of LVB by DBS.

Lakshmi Vilas Bank comes under Sebi scanner for 'insider trading'

Based on an exchange's surveillance report, the regulator is examining trading in the scrip between 2018 and 2019

Lakshmi Vilas customers to get all services; interest rates unchanged: DBS

The amalgamation of Lakshmi Vilas Bank into DBS Bank India came into effect from November 27