Annual Report 2008-2009 of Laxmi Vilas Bank

It is a broadly described annual report of Laxmi Vilas Bank in the year of 2008-2009. During the financial year, The Bank’s total business has increased to Rs. 12606.73 Crores as on 31^st March 2009 from Rs. 9477.27 Crores as on 31^st March 2008 registering a growth rate of 33%. The total deposits during the year have grown from Rs. 5618.49 Crores in 2007-2008 to Rs. 7360.90 Crores registering a growth of 31%. The operating profit for the year 2008-09 is Rs. 108.85 Crores as against Rs. 90.17 Crores of the previous year registering a growth of 20.72%. The net profit for the year after provisions and taxes amounts to Rs. 50.30 Crores as against Rs. 25.27 Crores recorded in the previous year registering a growth of 99%. Basic & Diluted Earnings per Share has improved to Rs. 10.31 as on 31^st March 2009 as compared to Rs. 5.18 as on 31^st March 2008.

The Board of Directors of the bank was pleased to recommend a dividend of Rs. 2.50 per share for the year ended 31^st March 2009 as against Rs. 1.50 per share for the previous year ended 31^st March 2008.

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