Annual Report 2013-2014 of Laxmi Vilas Bank

It is a broadly described annual report of Laxmi Vilas Bank in the year of 2013-2014. During the financial year, The Bank’s total business of Rs. 31,462.07 Crore in FY 2013-2014 a growth of 15.15% over Rs. 27,321.78 Crore in FY 2012-2013. Deposits grew by 18.91% from Rs. 15,618.98 Crore as at 31^st March 2013 to Rs. 18,572.88 Crore as at 31^st March 2014. The Bank has posted an operating profit of Rs. 309.00 Crore in FY 2013-2014 as against Rs. 251.15 Crore in the previous year FY 2012-13 registering a growth of 23.03%. The net profit for the year, after provisions and taxes, amounts to Rs. 59.66 Crore as against Rs. 91.57 Crore recorded in FY 2012-13. Earnings per Share stood at Rs. 6.11 for the year ended 31^st March 2014 as compared to Rs. 9.39 as on 31^st March 2013.

The Board of Directors of the bank was pleased to recommend a dividend of Rs. 1.00 (@10%) per share for the year ended 31^st March 2014 as against Rs. 3.00 (@30%) per share for the previous year ended 31^st March 2013.

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