Coimbatore:
Lakshmi Vilas Bank (LVB) has recommended a 50-per
cent dividend for the year ended March 2002, as against
45 per cent last year. The matter is subject to approval
by the apex bank.
 The bank
has recorded a net profit of Rs 30.22 crore for the March
2002 fiscal compared to Rs 26.74 crore during the corresponding
period of the earlier year. Its operating profit registered
a 28.78-per cent growth up by Rs 17.29 crore to Rs 77.36
crore (Rs 60.07 crore).
The
total income increased to Rs 357.48 crore (Rs 309.93 crore),
while the total expenditure shot up by Rs 30.25 crore
to Rs 280.11
crore (Rs 249.86 crore). The total business volume surpassed
the Rs 4,000-crore mark, with deposits totalling Rs 2,477
crore (Rs 2,278 crore) and net advances touching Rs 1,565
crore (Rs 1,480 crore).
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