ING Vysya Bank shares down 3% on disappointing earnings

Shares of ING Vysya Bank ended with 3 per cent loss today after the company reported 18 per cent drop in net profit for the June quarter.
The private sector bank's scrip ended 3.08 per cent lower at Rs 600.35 on the BSE. During the day, it plunged 7 per cent 576.
At the NSE, the stock settled with a loss of 2.67 per cent at Rs 600.
ING Vysya Bank had yesterday reported 18 per cent drop in net profit for the June quarter at Rs 143.4 crore due to higher provisioning for bad assets.
The bank had reported a net profit of Rs 175.1 crore in the same period last fiscal.

It's gross non-performing assets in the reporting quarter jumped to 2.39 per cent from 1.75 per cent a year ago.
The provisions for bad and doubtful assets soared 48 per cent to Rs 100.8 crore as against Rs 68.1 crore in the year ago period.
The bank's total income grew a mere three per cent to Rs 690.7 crore, while other income dipped seven per cent to Rs 227.6 crore. The net interest income grew nine per cent to Rs 463.1 crore.