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Lakshmi Vilas Bank Reports 83% Drop in Q2 Profits
October 16, 2017
This Wednesday, private sector Lakshmi Vilas Bank (LVB) reported an 83.4% fall in its net profits during the second quarter of the current financial year owing to higher provisioning for the non-performing assets.
The lender had to make provisioning of Rs. 187.38 crores for the second quarter as compared to Rs. 62.57 crores for the same period during the previous fiscal year. However, its total income stood at Rs. 902.76 crore, which is marginally higher from Rs. 830.29 crores that was recorded for the last year.
