Bricknet Ratings: Shadow Rating of Lakshmi Vilas Bank Limited
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Code : INB0013
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Region : India
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Global Recession and Performance of LVB In FY09, all the developing countries were hit hard by the global recession. All over the world, the continuous fluctuation in the prices of crude oil, lower agricultural production, layoffs in industries, cut in incentives, etc., had an adverse effect on the purchasing power of the general public. Financial institutions across several countries were severely affected and many of them collapsed or were taken over by the governments of the respective countries. However, Indian banks and other financial institutions came out relatively unscathed from this slowdown. But there was a significant difference between the performance of public, private, and foreign banks... Network Expansion of Lakshmi Vilas Bank The bank's network grew rapidly and it had 251 branches, including five Satellite Offices, and 118 ATMs as on March 31, 2009. These branches and ATMs were spread over 14 states and one Union Territory. Besides, the bank had obtained a license to open 23 branches and upgrade four Satellite Offices into full-fledged branches to reach a network of 273 branches by March 31, 2010. The bank also had plans to expand its ATM network... Information Technology at Lakshmi Vilas Bank The bank had a good track record in adopting the latest technology. The bank rolled out the Core Banking Solution (CBS) at all its branches within a short span of 15 months (completed in FY08) . With this, the bank said, its entire data was available at one place. LVB said this helped it in introducing a high level management information system, which gave a thrust to its decision support system... |
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