ING Vysya Bank profit up 36 %

January 29, 2013 02:22 am | Updated 02:22 am IST - BANGALORE:

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.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.