ING Vysya Bank Q4 net has jump 34% higher

By | March 15, 2011

According to the Q4 results announced by ING Vysya, the banks net profit has gone up by 34 peer cent to Rs 91.3 crore, from Rs 67.9 crore. The bank has reported its growth after taking into consideration the impact of about Rs 36 crore on account of the second pension and enhancement in gratuity limits. The net profit of the bank has become Rs.91.3 from Rs.67.9 crores.

The net interest income of the bank including from its Retail Personal Loan and Home loan products is

has grown by 9 per cent to Rs 268.3 crore from Rs 247.1 crore, while other income was up 15 per cent to Rs 170.5 crore. There has been 37 per cent increase in operating costs which resulted in Rs 295.7 crore. Net interest income including from its Retail Personal Loan and Home loan products is at

The bank has considerably reduced its gross non-performing assets to 2.3 per cent from 2.96 percent. The bank officials said that the lesser fresh slippage and the substantial increase in provisioning helped lower net NPAs. The bank’s capital-adequacy ratio has become 12.94 per cent from 14.91 per cent, with tier-I capital at 9.5 per cent.

Mr Jayant Mehrotra, Chief Financial Officer, ING Vysya Bank said that market conditions will determine the market conditions, and it would be in the form of either equity, loan or a combination of both.

Press release also said that the current full-year results would be after considering an additional charge of Rs 68 crore towards the second pension option and enhancement in gratuity limits.

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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