ING Vysya Bank declines after poor Q3 result

ING Vysya Bank fell 1.25% to Rs 966 at 09:28 IST on BSE after net profit fell 12.93% to Rs 145.69 crore on 13.8% increase in total income to Rs 1693.30 crore in Q3 December 2014 over Q3 December 2013.

The result was announced after market hours yesterday, 21 January 2015.

Meanwhile, the S&P BSE Sensex was up 79.75 points or 0.28% at 28,968.61

On BSE, so far 9,243 shares were traded in the counter as against average daily volume of 1.93 lakh shares in the past one quarter.

The stock hit a high of Rs 980 and a low of Rs 955.85 so far during the day. The stock had hit a 52-week low of Rs 493 on 4 February 2014. The stock had hit a record high of Rs 1,009.90 on 13 January 2015.

The large-cap bank has equity capital of Rs 191.26 crore. Face value per share is Rs 10.

ING Vysya Bank's provisions and contingencies jumped 167.31% to Rs 61.51 crore in Q3 December 2014 over Q3 December 2013. Provisions and contingencies rose 23.86% to Rs 61.51 crore in Q3 December 2014 over Q2 September 2014.

On absolute basis, the bank's gross non-performing assets (NPAs) before technical write off edged up to Rs 764.01 crore as on 31 December 2014, from Rs 635.84 crore as on 30 September 2014 and Rs 582.69 crore as on 31 December 2013. The ratio of gross NPA to gross advances edged up to 1.86% as on 31 December 2014, from 1.59% as on 30 September 2014 and 1.68% as on 31 December 2013. The ratio of net NPA to net advances edged up to 0.66% as on 31 December 2014, from 0.42% as on 30 September 2014 and 0.21% as on 31 December 2013.

The bank's Capital Adequacy Ratio (CAR) stood at 14.02% as on 31 December 2014 as against 14.39% as on 30 September 2014 and 16.93% as on 31 December 2013.

Kotak Mahindra Bank and ING Vysya Bank have announced amalgamation of ING Vysya with Kotak in the ratio of 725 shares of Kotak for every 1,000 shares of ING Vysya.

ING Vysya Bank is a leading private sector bank with retail, private and wholesale banking platforms.

Powered by Capital Market - Live News