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Lord Krishna Bank plans IPO

Staff Reporter

KOCHI: The Lord Krishna Bank plans to come out with its initial public offering next financial year to raise its capital base.

A press release said here that the Bank had a net worth of Rs.160.12 crores with a comfortable CRAR of 11.74 that is above the benchmark level of 9 per cent.

The release also said that the Bank was working consistently to bring down the NPA level and that despite falling interest rates, the Net Interest Income, spread as percentage to average working funds, had increased from 1.71 as on March 31, 2004 to 2.40 as on March 31, 2005. The Bank will shortly open two more branches — in Kolkata and Mumbai.

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