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Journalism of Courage
Private sector lender ING Vysya Bank today reported nearly 35 per cent growth in net profit to Rs 175.1 crore for the first quarter ended June 30,2013.
The company had a net profit of Rs 130.1 crore in the April-June quarter of the previous fiscal,ING Vysya Bank said in a statement. Total income of the lender rose to Rs 1,553.08 crore in the quarter under review,from Rs 1,342.36 crore in the corresponding period of last fiscal.
Net Interest Income for the quarter increased by 23.9 per cent to Rs 425.4 crore from Rs 343.3 crore in the corresponding quarter of the previous year.
The net interest margins NIM stood at 3.56 per cent at the end of the first quarter.
As of June 30,2013,the banks gross non-performing assets NPAs declined marginally to 1.75 per cent of advances as against 1.79 per cent in the same quarter of the previous fiscal.
