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ING Vysya Bank reports 18% drop in Q4 net profit

30 Apr 2014 Evaluate

ING Vysya Bank has reported results for fourth quarter and year ended March 31, 2014.

The bank has posted a fall of 18.31% in its net profit at Rs 139.11 crore for the quarter ended March 31, 2014 as compared to Rs 170.30 crore for the same quarter in the previous year.  However, total income of the bank has increased by 5.17% at Rs 1,529.45 crore for quarter under review as compared to Rs 1,454.15 crore for the quarter ended March 31, 2013.

For the full year ended March 31, 2014, the bank has reported a rise of 7.32% in its net profit after tax at Rs 657.85 crore as compared to Rs 612.96 crore for FY13. Total income increased by 8.65% at Rs 6,072.34 crore for year under review as compared to Rs 5,588.46 crore for the year ended March 31, 2013.

For the year ended March 31, 2014, on the consolidated basis, the group has posted a rise of 7.29% in its net profit after tax, minority interest and share of profit / (loss) of associate at Rs 657.92 crore as compared to Rs 613.18 crore in FY13. Total income of the bank has increased by 8.65% at Rs 6,072.06 crore for year under review as compared to Rs 5,588.33 crore for the year ended March 31, 2013.

Peers
Company Name CMP
HDFC Bank 780.00
ICICI Bank 1346.80
Axis Bank 1357.80
Kotak Mahindra Bank 398.90
Indusind Bank 947.90
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