ING Vysya Bank Net Marginally Up at Rs 167 cr - The New Indian Express

ING Vysya Bank Net Marginally Up at Rs 167 cr

Published: 01st February 2014 06:00 AM

Last Updated: 01st February 2014 01:37 AM

ING Vysya Bank reported a marginal increase in net profit by 3% for the third quarter ended December 31 at Rs 167.3 crore as compared to Rs 162.33 crore for the same period last year.

While net interest margin, after adjustments for interest reversal on restructured accounts stood at 3.35% (3.55%), net interest income rose by 3.3% to Rs 416.1 crore (Rs 402.9 crore).

Total income for the quarter rose by 7.0% to Rs 630.7 crore, while the operating profit grew by 4.2% at Rs 274.3 crore compared to the same period last year. Capital adequacy ratio for Q3 went up to 16.93% (12.47%). Gross NPA stood at 1.68% while Net NPA was 0.21%.

Commenting on the results, Managing Director Shailendra Bhandari said, “The macroeconomic environment continued to be challenging and we were impacted by the restructuring of a few CDR accounts.”

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