ING Vysya Bank 1st Quarter net rised by 35 Percent at Rs 175cr

ING Vysya Bank 1st Quarter  net rised by  35 Percent  at Rs 175cr: One of the Private Bank in India INGVysya  announced  its 1st Quarter June 30, 2013 results, The net profit increased upto 35 percent at Rs 175.1 crore.  The company recorded a net profit of Rs 130.1 crore for the April-June quarter of the previous year, ING Vysya Bank said in a statement.  Total income of the lender rose to Rs 1,553.08 crore for the quarter, from Rs 1,342.36 crore for the same period last year.

Net interest income for the quarter increased by 23.9 percent to Rs 425.4 crore from Rs 343.3 crore in the corresponding quarter of last year. Net interest margin (NIM) was 3.56 percent at the end of the first quarter. On June 30, 2013 gross non-performing assets (NPA) declined slightly to 1.75 percent to 1.79 percent in the same quarter last year.

The net non-performing assets remained unchanged at 0.19 percent.The capital adequacy ratio of the bank (CAR) of 30 June was 12.59 percent.  Bank shares closed at 575.15 rupees each, or 0.17 per cent on the BSE.