Announcing the Q2 results here on Monday, P. Mukherjee, LVB Managing Director and Chief Executive Officer said the bank’s net profit increased to Rs.64.85 crore, while operating profit rose 70 per cent to Rs.158.42 crore. In the period, LVB reported a slippage in its net non-performing assets from 1.01 per cent to 1.87 per cent due to two accounts. This quarter, we have made a provision for one-fourth of the amount and rest is spread over the next three quarters. Total deposits of the bank rose 13.8 per cent to Rs.26,680 crore. Shares of the bank fell about 0.36 per cent to Rs.151.20 on the BSE on Monday.

Source: The Hindu October 17, 2016 18:11 UTC