1/6/2015

Lakshmi Vilas Bank

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Performance Highlights
Board of
Dire ctors
September
2014.
Se nior Manage m e nt

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Annual Report 2013-2014

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Notice to Shareholders and 87th

Annual Report 2013-2014

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Un-Audited Results

Announcement
Un-Audited financial results for the
Dear All,
quarter ended 30th September
2014

It has been found to be increasingly challenging for Economists, Heads of Finance

Ministry and bankers to decipher the changes that have been taking place at a faster

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........................................................... phase due to global trends, technological advances, demographic changes and shifts

in economic power.

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As far as banking is concerned, the industry is feeling the pressure of shrinking

volumes, margins, cases being referred to CDR for mustering support to protect
viability of units. There is bulging of stressed accounts due to elongation of collection
and production cycles and mounting unviable current assets.
In the present Indian Banking scenario of perceptible downturn on the profits of
Scheduled Commercial Banks by NPAs and by provision for superannuation benefits.
Your Bank is not an exception to this. However, we have proved our ability that LVB
could render better service and could produce better results through the following
financial indicators pertaining to the year ended March 2014:

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1.

Total Business improved to Rs.31,610.58 Crs from Rs. 27,511.23 Crs,

growing at 14.90%, Y-O-Y.

2. Total Deposits rose from Rs. 15,618.98 Crs to Rs.18,572.88 Crs, registering

Y-O-Y growth of 18.91%.

3.

Gross Credit expanded from Rs.11,892.25 Crs to Rs.1328,97 Crs registering

Y-O-Y growth of 9.63%.

4.

Interest Income of the bank rose to Rs.1983.95 Crs and up by 12.69% as

compared to that of March 2013.

5.

NII registered Y-o-Y growth at 23.98%.

6.

Total Income of the bank for FY14 was Rs. 2201.94 Crs recording a growth of
over 12.48% FY13.

7.

Operating profit recorded Y-o-Y at 23.03%.

8.

NIM improved from 2.62% for March 2013 to 2.87% for March 2014.

9.

The bank posted a Net profit of Rs.59.66 Crs for of FY14.

10. Yield on Advances improved from 13.00% to 13.21%, Y-o-Y.

11. Cost of deposits has come down from 8.96% for the year ended March 2013 to
8.74% for March 2014.
12. Cost of funds has come down from 8.14% for FY 2013 to 7.96 % for FY 2014.
Under Financial Inclusion Plan, we are falling in line with the expectations of
Government of Tamil Nadu and presently we are servicing 131 villages as allotted by
SLBC Leader.
Customers of our Bank enjoy boutique of products and services like VISA/Rupay
Cards and inward remittances through Times of Money available at all branches,

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RUPAY Card
E tax payment
Financial Inclusion
Unclaimed Dividend
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1/6/2015

Lakshmi Vilas Bank

Prepaid Cards, Mobile Banking (IMPS), Internet Banking, SMS Alerts, ASBA, Demat,
OLT, 3-in-1, Doorstep Banking, New pension scheme etc. Instant Non-personalized
VISA / Rupay cards are available at all Branches to ensure immediate delivery on the
day of opening of the account itself. Further, within a short span, we could install 3141
POS machines and made our presence more visible.

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Branch Expansion:
We had received license from RBI to open 71 branches during 2013-14 and all 71
branches have already been opened. Thus the Bank has a national presence, serving
over 2.45 mn satisfied customers through its 374 branches and 640+ ATMs, spread
across 16 States and 1 Union Territory.
In terms of talent pool management, lots of motivational measures have been taken to
retain and attract the talent in the recent past and as a result; the attritional levels are
very minimal.
Corporate Social Responsibility:
In our commitment towards Corporate Social Responsibility, our Bank has undertaken
several initiatives towards betterment of deprived section of the society, extending
infrastructural and basic amenities to the needy institutions and providing scholarships
to poor meritorious students as elucidated in the annual report.
Road Ahead:
Our Bank is striving hard to achieve perceptible growth in Deposits, Advances,
operating profit and Profit after tax for the year 2013-14. Towards this, we have
proposed for a paradigm shift in business models, in customer experience, in
products, in delivery channels and in technology.
Our proposed major focus areas are enhancing the customer relationship value,
segmental focus, increasing ROA, reduction in overall NPA%, CASA growth, reduction
in cost of funds, growth in core fee income, mass acquisition of new clients through
multi channels and multi products.
I would place on record my sincere gratitude to all the stakeholders for their unflagging
support in our journey towards progressive growth and for overall development of the
bank.
Yours sincerely,
Rakesh Sharma
Managing Director & CEO
Lakshmi Vilas Bank

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