|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||6.95 - 7.65|
|52-week range||6.95 - 25.40|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||106.64|
DBS Group's move to take over troubled Lakshmi Vilas Bank will give Southeast Asia's largest lender the boost in India it has long desired, but aligning the two banks' business cultures could prove tricky. LVB, facing mounting bad loans and governance issues and a failure to secure capital, is set to be folded into DBS's Indian subsidiary under a plan proposed by India's central bank, which took control of the 94-year old Chennai-based lender on Tuesday, citing a "serious deterioration" in its finances. The plan will accelerate Singapore-based DBS's expansion ambitions in India and potentially transform it from a largely digital bank in the country to one with hundreds of branches.
Lakshmi Vilas Bank <LVLS.NS> is set to be folded into the Indian unit of Singapore's DBS <DBSM.SI> under a plan proposed by the Reserve Bank of India (RBI), which took over LVB on Tuesday due to a "serious deterioration" in its finances. India's government said it had also temporarily capped withdrawals from LVB, which has been scouting for a partner since last year amid mounting bad loan and governance issues. The RBI's proposed plan would give the Singaporean bank's expansion ambitions a fillip as it would vastly increase the footprint of DBS in India, where it only has around 30 branches.
India's Lakshmi Vilas Bank (LVB) has received a non-binding offer from Clix Group, the private sector lender said on Thursday, weeks after the bank's shareholders voted out seven directors from its board. The bank was first approached by lender Clix Capital, a part of the Clix Group and majority owned by Mumbai-based private equity firm AION Capital Partners, with a letter of intent in June. AION is a partnership between New York-based Apollo Global Management and ICICI Venture, a unit of India's ICICI Bank.