Is LVB bank in trouble?

LVB posted a net loss of Rs 397 crore in the September quarter of FY21, as against a loss of Rs 112 crore in the June quarter. Almost one fourth of the bank’s advances have turned bad assets. Its gross non-performing assets (NPAs) stood 25.4\% of its advances as of June 2020, as against 17.3\% a year ago.

What will happen to Laxmi Vilas bank?

Lakshmi Vilas Bank (LVB) has been merged with DBS Bank India Limited (DBIL), which is a subsidiary of Singapore’s DBS Group Holdings Ltd, owing to serious deteriorations in the former’s financial positions.

What will happen with Laxmi Vilas bank shares?

Shares in Lakshmi Vilas Bank have been suspended, which means investors are no longer going to get any value for their shares. Customers, including depositors of the Lakshmi Vilas Bank Ltd. will be able to operate their accounts as customers of DBS Bank India Ltd. with effect from November 27, 2020.

Why is LVB delisted?

Lakshmi Vilas Bank (LVB) has decided to delist. Due to mounting pressure caused by a spike in NPAs and losses, the regulator has decided to amalgamate the bank with DBS, stating that the move would provide immediate stability to LVB and safeguard ots depositors.

Is Lakshmi Vilas Bank Safe 2020?

(LVB) under a one-month moratorium till December 16, 2020. Added to this, TN Manoharan, the RBI-appointed administrator of Lakshmi Vilas Bank, on Wednesday said that depositors’ money is safe and expressed confidence of completing the lender’s merger with DBS Bank India within the deadline set by the regulator.

What is the latest news of Lakshmi Vilas Bank?

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