ING Vysya Bank is likely to increase its presence in Punjab, Maharashtra and Gujarat with aims to fulfill the regulatory norm pertaining to minimum loan exposure to the agriculture segment. The private sector lender has about 13.5% loan exposure to agriculture segment which is less than the minimum exposure of 18% required as per the regulatory norms. The entity is also offering Kisan Credit Cards to famers to cover their credit requirements at the pre- and post-harvest stages.
The bank has reported 35.82% rise in its net profit at Rs 162.33 crore for third quarter ended December 31, 2012 as compared to Rs 119.52 crore for the same quarter in the previous year. Total income of the bank has increased by 22.73% at Rs 1425.46 crore for quarter under review as compared to Rs 1161.45 crore for the quarter ended December 31, 2011.
