The bank's net worth (before DTA) stands at Rs 996.14 crore
Private sector lender Lakshmi Vilas Bank
(LVB) on Friday said it was talking to investors other than Clix Group.
Last month, LVB signed an LoI with Clix Group for the proposed amalgamation of Clix Capital Service and Clix Finance
India into the bank. After the merger, the entire shareholders’ fund of Clix Capital of around Rs 1,900 crore and assets of around Rs 4,600 crore, will get amalgamated into the bank.
“In addition to the proposal from Clix Group, the bank’s advisors, we look for few large marquee long term investors as well in mutual consultation,” said the bank’s management. "Therefore, as per current quick estimates of the advisors, after amalgamation of Clix Capital, the CET-1 of the bank might reach a reasonable threshold level stipulated under extant regulatory norms based on the present level of assets and capital,” said the bank.
Net worth of the bank (before DTA) stands at Rs 996.14 crore. Its Capital Adequacy Ratio (CAR), in line with Basel III guidelines, was at 1.12 per cent as of March 31, 2020, against 3.46 per cent as of December 31, 2019, and 7.72 per cent as of March 31, 2019.
LVB on Friday reported a pre-tax loss of Rs 233.14 crore during the March quarter compared to Rs 4,99.96 crore during the corresponding period last year. Its total income dropped to Rs 6,29.75 crore from Rs 739.72 crore. Gross NPA stood at Rs 4,233.31 crore as compared to Rs 3,358.99 crore during the same period last year.