Lakshmi Vilas Bank Net Loss Narrows to Rs 334 cr for the Third Quarter ended 31st December 2019


Lakshmi Vilas Bank Net Loss Narrows to Rs 334 cr for the Third Quarter ended 31st  December 2019



Major Performance Highlights
ü  Total Business stood at `.41,100crore.
ü  CASAstood at 25.88% of Total Deposit
ü  No additional slippage on net basis as against `.534 crore in Q2.
ü  Net NPA reduced to 9.81% from 10.47%.
ü  NII for the Q3 FY20increased to `.125.91crore from `.109.67crorein Q2.
ü  Operating and Net loss reduced in Q3.



Lakshmi Vilas Bank (LVB), a south-based private sector Bank, has declared its results for the  Quarter  ended 31.12.2019.



Performance Highlights:

± Total Business of the bank was`.41,100crore as of 31/12/2019, as against `.54,910crore as on 31stDecember 2018.
± CASA as a percentage to total deposits stood higher at 25.88% as on 31/12/2019 as against 22.85% as on 31.12.2018.
± Gross Advancesstood at`.17,535croreas against `24,123 crore as on 31/12/2018, Y-O-Y decline of 27.31%.
± Total Deposits declined from`.30,787crore as on 31/12/2018 to `.23,565crore as on 31/12/2019.
± Net Interest Margin (NIM) of the bank improved and stood at1.97%for the Q3FY20as against 1.47% in  Q2 FY 20and as against the NIM of  1.65 % of the Q3 of the previous year. 
± Operating loss of the bank reduced and stood at `.19.85crore for the quarter ended 31/12/2019 as against Operating loss of `.40.37 crore for the quarter ended 30/09/2019 and the Operating Lossof`25.10crore for the quarter ended 31/12/2018.
± Cost to Income ratio for the Q3 FY20 reduced to 110.38% and forQ2 FY20stood to 124.07%  (sequentially). The Cost to Income Ratio for the Q3 FY19 stood at 112.56% (Y-o-Y).
± Loss before tax provisionreduced to`.334.48for the quarter ended 31/12/2019 as against `.357.17crore for the quarter ended 30/09/2019and `.456.49crore for the QE  31/12/2018 (Y-o-Y).

Capital Adequacy:

The Bank’s total Capital Adequacy Ratio (CAR) as per Basel III guidelines, was at 3.46%as at  31/12/2019,as against 5.56% as at 30/09/2019 and7.57% as at 31/12/2019.

NPA

The Gross NPA stood at 23.27 % as on 31/12/2019 as against  21.25% as on 30/09/2019  sequentially.
Net NPA stoodlower at 9.81% as against 10.47% as on 30/09/2019.
The provision coverage ratio improved to68.70% (62.28% as on 30/09/2019 and 63.08% as on 30/06/2019 and 55.93% as on 31/12/2018).

Other Developments:
Reserve bank of India, vide their letter dated September 27, 2019 has initiated Prompt Corrective Action for Lakshmi Vilas Bank Limited .The Prompt Corrective Action is aimed at improving the performance of the Bank and will not have any adverse impact on the normal day-today operations of the Bank including acceptance / repayment of deposits in the normal course. The Bank managed its liquidity well with the Liquidity Coverage Ratio of over 200%

Bank has bagged an award as“Best Performing Private Bank Award” for performance under “ Atal Pension Yojana” from Pension Fund Regulatory and Development Authority. The Pension Fund Regulatory and Development Authority (PFRDA), a statutory body, is the pension regulator of India which was established by Government of India  and was authorized by Ministry of Finance, Department of Financial Services.

Our Bank has been featured among Top 10 Banks in India on digital transactions by National Payment Corporation of India and  MEIT based on the increasing Debit and Digital transactions surpassing 100% Achievements on budgets set by NPCI & MEIT.

Bank has introduced  LVB’s first Exclusive Offer Platform: LVB JOY –“Just Offers for You “ for our customers of specific segment and this program will strengthen our bond with Existing clients and featuring offers from over 40+ most popular Online and Offline Brands across major categories. 
The main objective of LVB JOY are
·       On-boarding New customers to the Bank.
·       Increase the LVB debit card adoption among these focused CASA segments and get a primary card status, thus increasing the Balances in these accounts.
Steps Taken by the Bank and future Plan:-

1.    Bank had already in the process of shifting our lending focus from Corporate clients to MRC and Retail lending.
2.    Bank had taken various measures including the centralization of the  payment of expenses at Head office  to monitor and rationlise the  cost  wherever feasible   and taken  simultanoues  steps to boost other income. Bank has reduced staff strength and  has rationlaised the staff  in administrative office and redeployed them  in branches to  market new customers and to engage  in recovery measures . We expect that these measures  will  results  reduction in  our Cost to Income Ratio.

3.    The Bank raised CET-I capital of Rs.459.59 crores in March, 2019 through QIP route. It also raised another Rs.188.16 crores in CET I capital in July 2019 by a Preferential Allotment process. In the AGM held on 27th September, 2019, the Bank’s shareholders have approved a resolution enabling the management to raise Rs.1000 crores of CET I capital and another Rs.500 crores of Debt capital, simultaneously increasing the authorised capital of the Bank from Rs.500 crores to Rs.650 crores. Bank is considering various option to improve the Capital.

Network

As on 31/12/2019, Bank has 571 branches, 5 Extension Counters, 1019 ATMs in 18 states and 1 union territory, the Bank offers various bouquets of products and services. The Bank is committed to build a sustainable business over the long term and upholding high standards of customer service - Life Smiles Where LVB Serves. Tamil Nadu continues to be the dominant contributor of business for the Bank.

The Board of Directors of The Lakshmi Vilas Bank Limited approved the financial results for the Quarterended 31/12/2019at their meeting held in Chennai on 14th February 2020.

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RERA : Blacklisted Builders South India Part 2


Blacklisted Builders South India Part 2



46
S&G Constructions
Luxuria
Bangalore
Work Stopped
47
EXD Projects
Five Rings
Bangalore
Work Stopped
48
Concept City developers
Midas Exotica
Bangalore
Multiple Funding and Inflated cost sheet; OCR Adjustments; Work stopped
49
First Futuristic Builders
Lotus Palace
Bangalore
Multiple funding & inflated cost sheet
50
Adishree Developers
Adishree sunshine
Bangalore
Work stopped
51
Bella Builders
Bella Tattva
Bangalore
Work stopped
52
KMB Estates
La Palazzo
Bangalore
Inflated Cost sheets
53
Skyline Constructions & Housing Ltd
Bangalore
Fraud Builder
54
Vivaansaa Builders
Vivaansa Balasam, Aurigea
Bangalore
Fraud Builder
55
Pyramid Developers
Mahika
Bangalore
OS No. 25681/2016' Lake & Drain Issue
56
BDA
Kemegowda BDA
Bangalore
Litigation, BBMP Waste Processing, Resale Issue, Drain Issue
57
BDA
Shivaram Karanth BDA
Bangalore
Denotification & Demolition issue
58
BDA
Arkavathy BDA
Bangalore
Denotification & Demolition issue
59
Unicon Shelters
Bangalore
Inflated Cost sheets & OCR fraud. Developer Financial issues
60
Hebron Properties
Bangalore
Profile funding, Multiple funding
61
Elegance developers
Bangalore
Financial issue
62
Sri Krishna Constructions
Sri Krishna Residency Off Kanakpura road, kushalnagaraD Krishna, Sy No. 5/2,
Bangalore
Unauthorised in lake bed; Profile funding, Multiple funding
63
Prisha Properties
Bangalore
Recently NPA and Sarfesi enforced - Financial Issue
64
MV Projects India Pvt Ltd
MV sunridge
Bangalore
Project delayed by 50 months, Issues between customer and developer, Infalted cost, fund raising activity
65
Max India Developers Ltd
Max Sunflower
Bangalore
Profile funding, OCR adjustments; Project delayed, 5 flats NPA
66
Indya Estates
The Greens
Bangalore
O.S. Number, Work Stopped, OCR Adjustments and Inflated costs


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Blacklisted Builders South India Part 1



 Blacklisted Builders South India Part 1 




 Blacklisted Builders South India feb 2020
SL No
Developer Name
Project Name
Location
Reason
1
Golden Gate Properties
Bangalore
Multiple funding & inflated cost sheet; Work Stopped; Legal issues in many projects
2
Vsan Infrastructure
Bangalore
Cheated Customers ; promises not delivered
3
Sigma Builders
Sigma Serenity
Bangalore
Multiple funding & inflated cost sheet; Work Stopped
4
DS max
Bangalore
Blacklisted in Market; All Projects deviation observed
5
Triguna Properties
Bangalore
Usage Deviation Observed in many projects (Converting residential apartments into hostels)
6
S & S properties
Sands Royal Park, Sands gateway
Bangalore
Multiple funding & inflated cost sheet; Work Stopped
7
CRMS/CMRS Builders
Bangalore
Multiple funding & inflated cost sheet; Work Stopped
8
Dreamz Infra
Bangalore
Fraud Builder
9
TGS developers
Bangalore
Fraud Builder
10
Sumadhura constructions
Bangalore
Multiple Funding; Not to confuse with cat A developer Sumadhura Infra
11
Ittina Mahaveer Builders
Bangalore
Violations in projects and no BESCOM/BWSSB permission; Not to confuse with Cat A developer Mahaveer Group (Reddy Structures)
12
B M Developers
Bangalore
Multiple Funding and Inflated cost sheet
13
Oceanus Developers
Bangalore
All projects work stopped due to financial issues
14
Vajram Builders
Bangalore
Not to confuse with Vajram Estates
15
Terracon Developers
Bangalore
16
SV Edifice Pvt Ltd
Bangalore
17
S2 Group
S2 Avani, S2 Avantika
Bangalore
Multiple funding & inflated cost sheet; Work Stopped
18
Richmond Builders
Richmond Pride
Bangalore
Multiple Funding and Inflated cost sheet
19
Surya Homes
Surya Homes
Bangalore
Multiple funding & inflated cost sheet; Work Stopped
20
Chowriappa Constructions
Chowriappa constellation
Bangalore
Work Stopped & Financial issues
21
AMR Builders & Developers
AMR Oaks, AMR Aster
Bangalore
Project in Anekal work stopped and builder absconding
22
Yashaswini Builders
Yashaswini Meadows
Bangalore
Work Stopped
23
Aditya Developers
Bangalore
Hyderabad Based Developer
24
Aishwarya Shelters
Bangalore
25
Happy Homes
City Square
Bangalore
26
Southern city developers
Bangalore
27
Manasa Shelters
Bangalore
28
Maharaja Builders
Maharaja Enclave
Bangalore
29
Mahima Land & Developers
Bangalore
30
Nikhil Property developers
Bangalore
31
Siera Property developers
Bangalore
32
VDB Developers
VDB Azure, VDB Carnival
Bangalore
Multiple Funding and Inflated cost sheet
33
MVS Builders
Bangalore
Inflated costs in anekal project
34
RR Enterprise
Bangalore
Multiple Funding and Inflated cost sheet; OCR Adjustments
35
Pushpam builders
Pushpam E Town
Bangalore
OC Issue, GP Plan for apartment
36
Neha Builders
Bangalore
OCR Adjustments and inflated costs
37
SPS developers
SPS Enclave
Bangalore
Multiple Funding and Inflated cost sheet; OCR Adjustments
38
Shanders builder
Dwellington
Bangalore
Multiple Funding & Profile funding
39
Shubh Developers
Shubh Enclave
Bangalore
Drain issue only - Some portion of layout only. Demolition happened for flouting buffer norms
40
Tirumala Developers
Thirumala Splendor
Bangalore
Drain issue only
41
Pioneer Developers
Pioneer Sun Blossom
Bangalore
Inflated Cost sheets (Issue is with Pioneer developers and not Pionier); OCR Adjustments
42
Suvastu Housing pvt ltd
Projects like Kingsquare, Oakleaf, astoria parK
Bangalore
Work Stopped
43
Sai Residency
Sai Prithvi Elite
Bangalore
Work stopped, Builder Frauds, Blaclklisted Builder
44
Elite constructions
Elite Shine
Bangalore
Profile funding, Multiple funding, Fake OC
45
Bollineni Developers
Bollineni Silas
Bangalore
Drain Issue and Slow Progress


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Choose a safer investment with high returns –PNB Housing Fixed Deposit

Choose a safer investment with high returns 





PNB Housing Fixed Deposit 8.2% 


Fixed deposits - PNB Housing advantage

·         High Safety Assurance:
CRISIL rating - FAAA

·         No Tax to be deducted at source on interest income upto INR 5000 per financial year

·         Loan Facility upto 75% of deposit available from all PNB Housing Branches.

·        Nomination
Facility available


FIXED DEPOSITS INTEREST RATE

Fixed deposit interest rates will determine the fixed amount of money you will earn at the end of your FD tenure. The interest rates are affected by several factors including the type of fixed deposit scheme, the tenure of the deposit and the frequency at which the interest is earned.
PNB Housing FD interest rates are summarized below:
Rate change is effective from 14.02.2020

Deposit upto ₹5 crore
Tenure (Months)
Cumulative Option* ROI (p.a.)
Non-Cumulative Option ROI  (p.a.)

ROI (p.a.)
Tentative yield to maturity
Monthly
Quarterly
Half Yearly
Annual
12 – 23
7.75%
7.75%
7.45%
7.50%
7.60%
7.75%
24 – 35
7.75%
8.05%
7.45%
7.50%
7.60%
7.75%
36 – 47
7.95%
8.60%
7.65%
7.70%
7.80%
7.95%
48 – 59
7.80%
8.76%
7.50%
7.55%
7.65%
7.80%
60 -71
7.80%
9.12%
7.50%
7.55%
7.65%
7.80%
72 – 84
7.75%
9.42%
7.45%
7.50%
7.60%
7.75%
120
7.75%
11.09%
7.45%
7.50%
7.60%
7.75%
* For cumulative option, interest rate is compounded annually on March 31st
# The yield mentioned is calculated using the first month of each tenure grid.
*The above Rates of Interest are subject to change at the sole discretion of PNB Housing.
*PNB Housing offers a 0.25% higher interest rate for senior citizens
Fixed deposit premature withdrawal & applicable Interest Rates
PNB Housing provides for the provision of premature cancellation of your Fixed deposit. There is a compulsory lock-in for 3 months, after which the fixed deposit can be withdrawn. However, the interest rate charged would be lower than the initial agreed about FD interest rate.
The interest rate for premature withdrawals, applicable:
·         Made within six months from the date of deposit, interest paid is at 4% per annum.
·         Made after six months, interest will be paid at 1% less than the FD interest rate applicable on public fixed deposit of the period for which the deposit was held.
FAQ:
·         Can I get monthly interest on PNB Housing Fixed Deposits?
Yes, you can get monthly interest on a non-cumulative fixed deposit. PNB Housing offers the option of monthly, quarterly and annual payouts, allowing you to have a fixed source of income.
·         What are the benefits of PNB Housing Fixed Deposits?
PNB Housing Fixed Deposit carries an FAAA/negative rating from CRISIL. This indicates that the fixed deposits are among the safest investments you can make.
·         Why should I invest in a Fixed Deposits?
The FD rate of interest is not affected by market conditions which means they are one of the most secure investment tools. From the beginning, you are aware of the money you will receive at the end of the tenure.
·         How many years will it take for the FD deposit amount to double?
Let’s assume, If you are earning a post-tax interest of 8.70% per annum on your fixed deposits, the amount will double in 8.27 years. You can use the rule of 72 to estimate the time in which the FD will double. That is, time take for a fixed deposit to double is (72/post-tax FD interest rate per annum)



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