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The Lakshmi Vilas Bank stock is under pressure as significant deterioration in asset quality impacts earnings. In an interview to CNBC-TV18, Parthasarathi Mukherjee, MD and CEO of Lakshmi Vilas Bank spoke about the results and his outlook for the company.
NS Venkatesh, ED of Lakshmi Vilas Bank expects to see robust demand on the retail and micro, small & medium enterprises (MSME) side of the business. "We have grown our advances year-on-year to the extent of 15 percent. Hopefully, this year we should close at around 16-17 percent growth", he said.
During the last quarter, there was no sale of loans to any asset reconstruction companies (ARC). There was sale of a standard account to an ARC, says Lakshmi Vilas Bank CFO Palaniappan Manickam.
Parthasarathi Mukherjee, MD and CEO of Lakshmi Vilas Bank says the bank is exploring options towards raising capital for future growth.
Rakesh Sharma, MD & CEO of Lakshmi Vilas Bank spoke to CNBC-TV18 to discuss the quarterly performance and the road ahead.
MD and CEO Rakesh Sharma told CNBC-TV18 that the bank expects net interest margin of around 2.9 percent in Q4 and has no requirement of fresh capital at this point in time.
Private sector lender Lakshmi Vilas Bank's Q4 net profit was at Rs 27 crore versus loss of Rs 21 crore. Its net interest income (NII) was up at Rs 100 crore versus Rs 77 crore. PR Somasundaram, MD & CEO, Lakshmi Vilas Bank in an interview with CNBC-TV18 spoke about the bank's Q4 performance and the road ahead.