homefinance NewsWill examine risk weighted assets of Indiabulls Housing going forward, says Lakshmi Vilas Bank
Will examine risk weighted assets of Indiabulls Housing going forward, says Lakshmi Vilas Bank
Lakshmi Vilas Bank had looked at various options and opportunities and a deal with Indiabulls Housing Finance appeared to close out earlier, said Parthasarathi Mukherjee, MD and CEO of Lakshmi Vilas Bank.
Lakshmi Vilas Bank had looked at various options and opportunities and a deal with Indiabulls Housing Finance appeared to close out earlier, said Parthasarathi Mukherjee, MD and CEO of Lakshmi Vilas Bank.
The board of Lakshmi Vilas Bank has approved its merger with Indiabulls Housing Finance. If the deal goes through, the shareholders of Lakshmi Vilas Bank will get 14 shares of Indiabulls Housing for every 100 shares held in LVB. discussed the details.
“It is a requirement for the bank to put up an application to Reserve Bank of India (RBI) after looking at all the provisions which is something that we will now be doing. At that point in time, we will have some clarity on what are the issues that RBI would like us to examine. There are a whole host of requirements and we will ensure that we tick all the boxes when we go to RBI,” he added.
In terms of examining the risk weight assets of Indiabulls Housing Finance, Mukherjee said, “We will be examining it at great length going forward. It is too early to comment on this. Overall, they have an extremely profitable franchise and we certainly are expecting to see good value coming out.”
“While we are strongly represented in the south, the other entity – Indiabulls Housing Finance – is better placed in the north and the west. So clearly, there is a huge amount of complementarity that we will be looking at and once the merger is to be consummated, we will then work out our further expansion strategy,” he further mentioned.
First Published: Apr 8, 2019 3:42 PM IST
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