NEWS & ADVICE : SAVINGS ACCOUNTS
ING Vysya Bank’s Q3 results: profits rise by 35.8%
By Neelima Shankar
Jan 29, 2013
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The private sector bank, ING Vysya Bank, has announced a 35.8 percent increase in profits in its third quarter financials. Its profits presently stand at Rs. 162.33 crore.

Its total income also increased by 22.73 percent and was recorded at Rs. 1425.46 crore. Meanwhile its earnings per share were reportedly Rs. 10.66, increasing from previous year's figure of Rs. 7.98.

Talking about the bank's financial results, the Managing Director of the Bangalore based bank, Mr.  Shailendra Bhandari said, "We continue to deliver on our core parameters. Our gross advances grew 20 per cent during the year, notwithstanding the repayments in two large accounts."

The bank is maintaining its asset quality, with gross NPA ratio and net NPA ratio being recorded at 1.77 percent and 0.056 percent respectively. On comparing these with the year ago figures, we can see a slight decline in these numbers which were recorded at 2.01 percent and 0.31 percent respectively the year ago.

Its net interest income also recorded an increase by 24.5 percent and presently stands at Rs. 402.9 crore, rising from Rs. 323.6 crore, which was reported last year during the same quarter. Its capital adequacy ratio presently stands at Rs. 12.47 percent.


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