ING Vysya Bank at record high post Q2 earnings

ING Vysya Bank has rallied 6% to Rs 472, its historical high, on reporting 30% year-on-year jump in net profit at Rs 150 crore in the second quarter of current financial year on the back of sound growth in core income.

Net interest income (NII) rose 22% to Rs 369 crore, against Rs 304 crore in the corresponding quarter of the previous year, while the net interest margin (NIM) improved at 3.45%, compared with 3.35% in the year-ago period.

On the non-performing asset (NPA) front, net NPA improved to 0.13% from 0.31% and gross NPA improved to 1.90% from 2.02% during the second quarter.

 

The stock opened at Rs 455 and hit a low of Rs 448 on the BSE. The trading volumes on the counter more-than-double with a combined 279,540 shares have changed hands so far on both the exchanges.