Strong Q1 numbers generate interest in ING Vysya Bank

ING Vysya Bank rose 2.56% to Rs 589.90 at 9:18 IST on BSE after net profit surged 34.6% to Rs 175.12 crore on 15.7% growth in total income to Rs 1553.08 crore in Q1 June 2013 over Q1 June 2012.

The Q1 result was announced after market hours on Monday, 22 July 2013.

Meanwhile, the S&P BSE Sensex was up 163.55 points or 0.81% at 20,322.67.

On BSE, 4,352 shares were traded in the counter as against average daily volume of 4,117 shares in the past two weeks.

The stock hit a high of Rs 598 and a low of Rs 580.20 so far during the day.

ING Vysya Bank's ratio of net non-performing assets (NPAs) to net advances stood at 0.19% as on 30 June 2013, as against 0.03% as on 31 March 2013 and 0.19% as on 30 June 2012. The ratio of gross NPAs to gross advances stood at 1.75% as on 30 June 2013, as against 1.76% as on 31 March 2013 and 1.97% as on 30 June 2012.

ING Vysya Bank's provisions and contingencies jumped 155.28% to Rs 68.11 crore in Q1 June 2013 over Q1 June 2012.

The bank's capital adequacy ratio (CAR) as per Basel II norms stood at 12.81% as on 30 June 2013, as against 13.24% as on 31 March 2013 and 13.35% as on 30 June 2012. CAR as per Basel III norms stood at 12.59% as on 30 June 2013.

ING Vysya Bank is a private sector bank with retail, private and wholesale banking platforms that serve over two million customers.

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