ING Vysya Bank on Monday reported a net profit of Rs.162 crore in the third quarter ending December 2012, an increase of 36 per cent over the previous year.

Net interest income amounted to Rs.403 crore during the quarter, an increase of 24.5 per cent. The bank’s net interest margin improved from 3.49 per cent to 3.61 per cent. The bank reported an operating profit of Rs.263 crore, a rise of 26 per cent.

Deposits during the third quarter amounted to Rs.37,691 crore, and gross advances Rs.32,153 crore — the former increased by 19.1 per cent and the latter by 20.2 per cent. However, the bank’s capital adequacy ratio declined from 14.08 per cent to 12.47 per cent.

Managing Director Shailendra Bhandari said the low level of NPAs — Gross NPAs at 1.77 per cent and net NPAs at 0.05 per cent — reflected the improvement of the bank’s asset quality.

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