Annual Report 2010-2011 of Laxmi Vilas Bank

It is a broadly described annual report of Laxmi Vilas Bank in the year of 2010-2011. During the financial year, The Bank’s total business of Rs. 19,243.96 Crores in FY 2010-11, a growth of 25.35% over Rs. 15,352.88 Crores in FY 2009-10. Deposits grew 23%, from Rs. 9075.38 Crores as at 31^st March 2010 to Rs. 11149.51 Crores as at 31^st March 2011, and total advances expanded by 29%, from Rs. 6277.50 Crores to Rs. 8094.42 Crores in FY 2010-11. The Bank has posted a healthy operating profit of Rs. 273.86 Crores in FY 2010-11 against Rs. 166.21 Crores in the previous year FY 2009-10, an increase of 65%. The net profit for the year ending at Rs. 101.14 Crores as against Rs. 30.67 Crores recorded in the previous year – a growth of 240%. Earnings per Share stood at Rs. 10.37 for the year ended 31^st March 2011 as compared to Rs. 4.95 as on 31^st March 2010.

The Board of Directors of the bank was pleased to recommend a dividend of Rs. 2.50 (@25%) per share for the year ended 31^st March 2011 as against Rs. 0.60 (@6%) per share for the previous year ended 31^st March 2010.

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