Lakshmi Vilas Bank(LVB) recruitment for Probationary Officers posts 2018

Lakshmi Vilas Bank has published Advertisement for below mentioned Posts 2018. Other details like age limit, educational qualification, selection process, application fee and how to apply are given below.

Posts: Probationary Officers

Educational Qualification: Graduates who secured a minimum of 60% (First Class) and studied in regular college affiliated to any recognized university (10+2+3 or equivalent pattern)

Age Limit: Minimum: 20 years, Maximum: 28 years. Candidate born between December 2, 1990, and December 1, 1998 (inclusive of both Dates) are eligible to apply

Application Fee: Rs. 700 /-

Selection Process: Selection will be on the basis of performance in the Online Examination, Group Discussion and Personal Interview. Those candidates who come out successful in the Online Examination shall be called for Group Discussion and Personal Interview thereafter. The Bank reserves the right to make required modification in the selection process.

Important Dates:

Starting Date of Online Application: 05-12-2018

Last Date to Apply Online: 30-12-2018

How to Apply: Interested Candidates may Apply Online Through official Website.

Apply Online: Click Here

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Lakshmi Vilas Bank posts net loss in Q2 as bad loans spike

Lakshmi Vilas Bank(LVB) reported net loss of Rs 132.31 crore in the second quarter ended September 30, on account of mounting bad loans. The private sector lender had registered a net profit of Rs 10.50 crore in the September quarter of 2017-18. Sequentially, the net loss widened from Rs 123.87 crore.

Total income fell to Rs 800.50 crore as against Rs 902.76 crore in the year-ago period, the bank said in a regulatory filing. The gross non-performing assets (NPAs) or bad loans hit 12.31 percent of gross loans by the end of September 2018 from 5.50 percent by the same period of 2017.

Net NPAs also rose to 6.88 percent of net advances from 4.33 percent. In absolute terms, gross NPAs stood at Rs 2,964.89 crore by the end of second quarter this fiscal as compared to Rs 1,277.66 crore in the year-ago period. Net NPAs were at Rs 1,560.08 crore as compared to Rs 993.23 crore.

Thus, provisions for bad loans and contingencies were to be raised to Rs 204.87 crore for the reported quarter as against Rs 187.38 crore set aside for September quarter of 2017-18.

The return on assets (annualised) in the second quarter slipped to (-) 1.34 percent from 0.12 percent in the year- ago period.

The bank has managed to reduce its bulk deposits by Rs 1,800 crore resulting in reduction in interest paid on deposits by Rs 22 crore as compared to June quarter 2018, the lender said.

"This has resulted in net interest income (NII) improving to Rs 150.95 crore in second quarter as compared to Rs 130.20 crore in the first quarter," it said.

The bank said there were fresh slippage of Rs 237.49 crore during the second quarter.

"Residual stress in book is estimated to be around Rs 400 crore only," it said.

Additionally, the bank said it has reduced its exposure in infra/NBFC/real estate sectors by Rs 1,800 crore which is a step for reduction of almost 35 percent of estimated exposure in these sectors during 2017-18.

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Lakshmi Vilas Bank posts loss in Q1FY19

Private sector lender Lakshmi Vilas Bank (LVB) today reported a loss of Rs 123.86 crore for the June quarter on account of a massive jump in bad loans. The bank had logged a net profit of Rs 66.11 crore in the corresponding quarter of the previous fiscal.

Total income during the quarter also declined to Rs 787.50 crore from Rs 927.25 crore in the year-ago period, LVB said in a statement.

With regard to asset quality, the bank's gross non-performing assets (NPAs) surged to 10.73 percent of advances as of June 2018 as against 3.78 percent a year ago. Net NPAs jumped to 5.96 percent as compared to 2.48 percent a year ago.

As a result, provisions for bad loans and contingencies increased to Rs 161.52 crore in the reported quarter from Rs 112 crore in the same period a year ago.

Net Interest Income (NII) decreased to Rs 130.20 crore in the quarter under review from Rs 217.73 crore in first quarter of 2017-18. Net Interest Margin (NIM) of the bank also declined to 1.48 percent as against 2.74 percent as on June 30, 2017.

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Lakshmi Vilas Bank posts loss in Q4 as NPA provisions rise

Private lender Lakshmi Vilas Bank today reported a net loss of Rs 622.25 crore for the last quarter of 2017-18 due to multi-fold jump in provisioning for bad loans. The bank had registered a net profit of Rs 52.16 crore in the January-March period of 2016-17.

Income during the quarter ended March 2018 also fell by 14.3 percent to Rs 740.90 crore as against Rs 864.99 crore in year ago period, the bank said in a release.

Provisions for bad loans and contingencies were raised to Rs 921.41 crore in the quarter, a jump of almost nine-time from Rs 108.19 crore kept aside in the same period of preceding fiscal.

For the full year, the bank posted a net loss of Rs 584.87 crore against a net profit of Rs 256.07 crore in 2016-17, it said.

Income stood at Rs 3,388.43 crore in 2017-18 against Rs 3,349.43 crore in 2016-17.

Gross non-performing assets (NPA) as a percentage of gross loans rose to 9.98 percent as on March 31, 2018, from 2.67 percent by end-March 2017.

Net NPAs rose to 5.66 percent from 1.76 percent. In absolute-terms, gross NPAs were at Rs 2,694.21 crore by the end of March 2018 against Rs 640.19 crore at end-March 2017. Net NPAs were Rs 1,457.89 crore from Rs 418.42 crore.

The provision coverage ratio stood at 55.07 by end of March 2018.

The bank said slippages partially increased due to shifting of some of the restructure accounts to NPA as per the RBI direction. NCLT cases were about Rs 584.33 crore and gems and jewellery account exposure was about Rs 30 crore.

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Lakshmi Vilas Bank Ltd Q3 result, reported net loss

Lakshmi Vilas Bank (LVB)slipped into the red during the third quarter of this fiscal.

For the quarter ended December 31, 2017, the bank has reported a net loss of Rs.39 crore, compared with a net profit of Rs.78 crore in the same period of the previous year on the back of lower operating profit. There was a significant drop in other income and higher provisions made for contingencies.

Operating profit of the bank fell significantly to Rs.46 crore from Rs.171 crore. Other income fell to Rs.27 crore, compared with Rs.150 crore in Q3 of the previous fiscal.

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Lakshmi Vilas Bank (LVB) Recruitment for varios posts 2018

The Lakshmi Vilas Bank (LVB), a very well known private sector bank, is inviting applications from eligible aspirants for filling up the posts of Relationship Managers and Branch Heads on permanent basis. All interested aspirants should apply within 10 days of this notification. Check complete details below.

Name of the Posts: Relationship Managers and Branch Heads

Relationship Manager - MSME

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Lakshmi Vilas Bank Q2 net profit down 84%

Lakshmi Vilas Bank Ltd on Wednesday said its net profit in the second quarter fell 83.81% from a year ago due to higher provisioning.

Net profit fell to Rs10.50 crore for the three months ended 30 September from Rs64.85 crore in the same quarter last year.

Profit was lower than the Rs41.70 crore estimated by a Bloomberg poll of an analyst.

The bank increased provisions during the quarter to Rs187.38 crore from Rs62.57 crore a year ago. In the April-June quarter, the bank had set aside Rs112 crore in provisions.

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Lakshmi Vilas bank Q1 profit up 9% at Rs 66 crore

Private sector Lakshmi Vilas Bank today reported a 8.95 per cent rise in net profit to Rs 66.12 crore in the first quarter ended June 30. The bank had registered net profit of Rs 60.68 crore during the corresponding period last fiscal.

Total income of the company rose to Rs 927.25 crore for the quarter from Rs 774.87 crore in the year-ago period.Assets quality deteriorated with gross non-performing assets, as a percentage of net advances by June 30, 2017, rose to 3.78 per cent during the quarter under review, compared to 2.14 per cent in the same period last year.

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