ING Vysya Bank has received an approval from the Reserve Bank of India (RBI) for increase in investment limit by Flls under PIS from 24% to 30% of paid-up capital of bank. The central bank also pulled out the restrictions placed relating to investment on behalf of FII/NRI/PIO vide their earlier letter dated August 30, 2010 while removing the bank from the RBI Caution list.
The Reserve Bank of India issued the above approval on January 03, 2013
The bank has posted a rise of 30.20% in its net profit at Rs 150.21 crore for the quarter ended September 30, 2012 as compared to Rs 115.37 crore for the same quarter in the previous year. Total income has increased by 24.73% at Rs 1366.49 crore for quarter under review as compared to Rs 1095.53 crore for the quarter ended September 30, 2011.
Gross non-performing assets (NPAs) of the bank declined and stood at 0.13% for the quarter as against 0.31% in the same quarter of previous year. Net non-performing assets (NPAs) of the bank were at 1.26%, higher than 1.12% in the similar quarter of previous fiscal.
