Active Stocks
Tue Mar 19 2024 13:01:07
  1. Tata Consultancy Services share price
  2. 4,020.00 -3.01%
  1. Tata Steel share price
  2. 149.90 0.20%
  1. Bharti Airtel share price
  2. 1,230.20 0.42%
  1. Power Grid Corporation Of India share price
  2. 259.90 -1.92%
  1. ITC share price
  2. 410.00 -1.77%
Business News/ Companies / ING Vysya June quarter profit rises 48%, beats forecast
BackBack

ING Vysya June quarter profit rises 48%, beats forecast

ING Vysya June quarter profit rises 48%, beats forecast

Premium

Mumbai: Private sector lender ING Vysya Bank posted a better-than-expected 48% rise in April-June net profit on higher non-core incomes.

Net profit for the June quarter rose Rs602.6 million, up from Rs406.3 million a year ago.

Fee income and other income rose 25% to Rs1.59 billion, helped by treasury gains, it said in a statement.

Net interest income rose 9% to Rs1.71 billion on a 12% loan growth during the quarter, it said. The net non-performing asset rose to 1.27% from 0.84% a year ago.

Its deposits rose 11% in June quarter, it added. The Bangalore-based bank capital adequacy ratio was at 12.55% as on 30 June.

Ahead of the news, shares in the bank ended 1.12% down at Rs185.30 in a Mumbai market that ended down 0.85%.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 21 Jul 2009, 10:30 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie