The size of the issue was Rs. 250 crore including option to retain over subscription. The bonds with combination of tenures of 6 years and 10 years offered a coupon rate of 11.40%. The issue of bonds was made for augmenting Tier-II capital for improving the Capital Adequacy Ratio and enhancing the long-term resources of the Bank.
LVB has a rich track record of 85 years of time tested presence and growth. The Bank has a wide network of 277 branches spread across 15 states and 1 Union territory, supported by 502 ATMs. LVB announced its quarterly results for the quarter ended 31st December 2011 on the 2nd February 2012, reflecting an Y-on-Y growth of 34% on total business which stood at Rs 22625 Cr as at 31st December 2011. Total deposits grew to Rs 13281 Cr (33.43%), with retail deposit growth of 45.93% and gross credit at Rs 9344 Cr grew Y-o-Y by 35%. Net profit for the quarter 31st December 2011 was up 10.35% at Rs 28.35 Cr and for the 9 months was up 11.2% at Rs 82.06 Cr.
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