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Private sector lender Lakshmi Vilas Bank’s (LVB) net loss for the fourth quarter FY19 narrowed by 58 per cent to ₹264 crore against a net loss of ₹622 crore recorded for the corresponding period last year.
The bank’s operating loss (before provisions and contegencies) also came down by 69 per cent during the quarter to ₹21 crore from ₹69 crore recorded during March 2018 quarter.
However, LVB’s net loss for the full year widened by 53 per cent to ₹894 crore as on March 2019 (₹585 crore), while it recorded an operating loss of ₹11 crore against an operating profit of ₹355 crore.
The bank’s asset quality continue to worsen. While gross non-performing assets (GNPA) almost doubled to 15.53 per cent (9.98 per cent) during Q4 FY19, net non-perfoming assets (NNPA) increased to 7.49 per cent (5.66 per cent) during the comparable period.
Total income and interest income also saw a marginal drop during the quarter to stand at ₹740 crore (₹741 crore) and ₹682 crore (₹701 crore), respectively. Total business for FY19 fell by 15 per scent to ₹51,235 crore (₹60,314 crore).
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