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ING Vysya Bank reports 44% rise in Q3 net profit

17 Jan 2012 Evaluate

ING Vysya Bank, private sector lender has reported results for the third quarter ended December 31, 2011

The bank’s net profit for the third quarter jumped 43.9% at Rs 119.52 crore as compared to Rs 83.01 crore for the corresponding quarter last year. Its total income has increased by 35.44% to Rs 1161.45 crore for the quarter under review from Rs 857.51 crore for the similar quarter of the previous year.

Gross NPA of the bank reduced to 2.01% in the third quarter from 2.66% a year ago period. Similarly, net NPA also improved to 0.31% from 0.64% earlier.

ING Vysya Bank is one the leading banks in India. In the year 1985, it became the largest private sector bank. In 2002, Dutch banking giant ING took over the management of the bank and the name was changed to ING Vysya Bank. Today it has its presence in over 5 countries, employing over 1,20,000 people and serving 75 million customers across the globe.

Peers
Company Name CMP
HDFC Bank 772.35
ICICI Bank 1256.00
Axis Bank 1269.60
Kotak Mahindra Bank 370.45
Indusind Bank 914.40
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