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LVB implements core banking solution
TIRUCHI:
Lakshmi Vilas Bank netted a profit of Rs. 22.47 crore during 2005-06 against Rs. 3.35 crore in the previous year. Stating this at the annual general meeting of the bank held at Karur on Monday, the Chairman and Chief Executive Officer, R. M. Nayak, said deposits registered a growth by 24 per cent from Rs. 3,495.92 crore to Rs. 4,336.38 crore. The credit expanded by 27.4 per cent from Rs. 2,317.71 crore to Rs. 2,952.82 crore. The net worth of the bank improved from Rs. 229.99 crore to Rs. 291.05 crore.The bank has implemented state-of-the-art services through core-banking solution (CBS).
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