Lakshmi Vilas Bank’s decision to amortize the value of Tier-2 bonds ₹Rs 318 crore could increase the cost of borrowing for peers, especially the weaker ones, experts said. The troubled private bank said on Thursday that it has written off all of its Basel III-compliant Tier-2 bonds as advised by …
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Global credit rating agencies have applauded the Reserve Bank of India’s (RBI) decision to merge the capital-hungry Lakshmi Vilas Bank (LVB) with DBS Bank India Ltd (DBIL), the Indian arm of the DBS Bank of Singapore, saying the deal will benefit both lenders. . As part of the merger, DBIL …
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Mumbai / Bangalore / Singapore: DBS Group’s decision to take over the troubled Lakshmi Vilas Bank will give India’s largest Southeast Asian lender the much-desired boost, but aligning the business cultures of the two banks could prove difficult. LVB, which is facing increasing bad loans and governance issues and a …
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As part of the merger process, the Reserve Bank of India (RBI) said that the Union government, at the request of the regulator, has limited withdrawals of deposits in ₹25,000 in LVB for a month. The Reserve Bank’s surprise intervention to force the capital-hungry private lender to merge with a …
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