Ing Vysya Bank NPA

Hi I am interested in know the financial position of the ING Vysya Bank as well as the detail about the NPA of the bank?

[Kiran Chandar]

NG Vysya Bank Ltd’s results show the lender has made significant efforts to reduce stressed assets and grow its fee-based businesses.

Analysts anticipate profitability of the bank may be impacted by sluggish growth in other income and higher operating expenses. Asset quality is expected to be maintained while credit growth is likely to be restrained.

Gross non-performing assets (NPAs) as a proportion of advances has declined to 1.59%, the lowest in over 4 years. Upgrades, recoveries as well as write-offs approximately doubled to Rs.486 crore as compared with the June quarter. The realized rate of mid-corporate section accounts sold to asset reconstruction companies stood at around Rs.165 crore.

Analysts also anticipate profit after tax to increase 2.2 percent to Rs 179 crore in June quarter from Rs 175 crore and net interest income may jump 12.6 percent on yearly basis to Rs 479 crore in the quarter gone by.