Lakshmi Vilas Bank gets indicative non-binding offer from Clix Group

The bank's weakening performance, rising slippages in corporate book and the impact on profitability and risk-weighted asset portfolio may further increase capital requirement

Topics
Lakshmi Vilas Bank | Clix Capital | Srei

T E Narasimhan  |  Chennai 

Lakshmi Vilas Bank (LVB)-Clix Capital merger talks moved one step closer as the lender received an indicative non-binding offer from Clix Group. LVB said further to the process of considering and evaluating the proposed amalgamation with Clix Capital Services Pvt Ltd, Clix Finance India Pvt Ltd and Clix Housing Finance Pvt Ltd (collectively, the Clix Group), the bank has received an indicative non-binding offer from Clix Group.

As of June 2020, LVB's total capital adequacy ratio (CAR) was 0.17 per cent, with negative tier-I and CET-1 ratios. The capital adequacy ratios are ...

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, October 08 2020. 16:16 IST
RECOMMENDED FOR YOU
.