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Foreign investment in ING Vysya Bank reaches trigger limit

24 Feb 2015 Evaluate

Reserve Bank of India (RBI) has notified that the foreign shareholding through Global Depository Receipts (GDRs)/American Depository Receipt (ADR)/ Foreign Direct Investment (FDI)/Non Resident Indian (NRI)/Persons of Indian Origin (PIO)/Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) in ING Vysya Bank has reached the trigger limit. Accordingly, further purchases of equity shares of this bank would be allowed only after obtaining prior approval of the RBI on behalf of FII/RFPI/NRI/PIOs and through FDI/ADR/GDRs under Schedule-I of FEMA.

ING Vysya Bank has registered a fall of 12.94% in its net profit after tax at Rs 145.69 crore for third quarter ended December 31, 2014 under review as compared to Rs 167.34 crore for the same quarter in the previous year. Total income of the bank has increased 13.81% at Rs 1693.30 crore for Q3FY15 as compared Rs 1487.85 crore for the corresponding quarter previous year.

Peers
Company Name CMP
HDFC Bank 798.55
ICICI Bank 1342.55
Axis Bank 1360.55
Kotak Mahindra Bank 402.95
Indusind Bank 938.75
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